Perpetual Limited — Director's Dealing 2004

Apr 7, 2004

Rule 3.19A.1

Appendix 3X

Initial 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.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Sandra McPhee
Date of appointment	1 April 2004

Part 1 - Director's relevant interests in securities of which the director is the registered holder

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

Number & class of securities

Nil

Part 2-Director's relevant interests in securities of which the director is not the registered holder

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

+ See chapter 19 for defined terms.

Name of holder & nature of interestNote: Provide details of the circumstances	Number & class of Securities
giving rise to the relevant interest.	Nil

Part 3-Director's interests in contracts

Detail of contract	Nil
Nature of interest
Name of registered holder(if issued securities)
No. and class of securities to whichinterest relates

$\div$ See chapter 19 for defined terms.