Perpetual Limited — Director's Dealing 2004

Apr 20, 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	8 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	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	15 April 2004
No. of securities held prior to change	Nil
Class	Ordinary shares
Number acquired	1,000
Number disposed	$\overline{a}$
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$43,382.01

J:\OPS\EXECSEC\DATA\GC\ASX\McPhee Appendix 3Y Disclosure April 04.doc

⁺ See chapter 19 for defined terms.

No. of securities held after change	1,000
Nature of change Example: on-market trade, off-market trade, exercise of options, 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 change
Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

JAOPS\EXECSEC\DATA\GC\ASX\McPhee Appendix 3Y Disclosure April 04.doc