Perpetual Limited — Director's Dealing 2004

Sep 7, 2004

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	Perpetual Trustees Australia Limited
ABN	86 000 431 827

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Sandra McPhee
Date of last notice	15 April 2004

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	Queensland TrusteesPurchase$\mathbf{b} \mathbf{v}$PtyLimited as trustee for Perpetual's Non-Executive Share Purchase Plan.
Date of change	6 September 2004
No. of securities held prior to change	1,000
Class	Ordinary
Number acquired	305
Number disposed	÷
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	$14,376.82
No. of securities held after change	1,305
Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestment plan,participation in buy-back	On-market trade

Part 2 - Change of director's interests in contracts

Detail of contract	Not Applicable
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to changeNote: Details are only required for a contractin relation to which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, providedetails and an estimated valuation
Interest after change