Perpetual Limited — Director's Dealing 2005

Oct 5, 2005

Appendix 3Y

Rule 3.19A.2

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	Linda Nicholls
Date of last notice	4 July 2005

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

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct/Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Direct Units in Perpetual Wholesale Industrial Share Fund Indirect Units in Perpetual Industrial Share Fund by Pollard Strategy Associates Pty Ltd as trustee of PSA Superannuation Fund. Linda Nicholls is a member of the PSA Superannuation Fund. Units in Perpetual's Industrial Share Fund, by Seventh Bardo Pty Ltd. Linda Nicholls is sole director of Seventh Bardo Pty Ltd.
Date of change	30 September 2005

No. of securities held prior to change	Direct
	49,793.60 units - Perpetual's Wholesale Industrial Share Fund
	Indirect
	22,788.20 units - Perpetual Industrial Share Fund (PSA Superannuation Fund)
	46,829.02 units - Perpetual Industrial Share Fund (Seventh Bardo Pty Ltd)
	4,117.95 units – Perpetual Wholesale Industrial Share Fund (Seventh Bardo Pty $Ltd$ )
Class	units
Number acquired	8,218.91 units in Perpetual Wholesale Industrial Share Fund (Seventh Bardo Pty Ltd
Number sold	10,183.72 units in Perpetual Wholesale Industrial Share Fund (Linda Nicholls)
Value/Consideration Note: If consideration is non-cash, provide details and estimated	Direct (Sale)
valuation	\$19,512.00 - Perpetual Wholesale Industrial Share Fund (Linda Nicholls)
	Indirect (Purchase)
	\$15,994.00 - Perpetual Wholesale Industrial Share Fund (Seventh Bardo Pty Ltd)

No. of securities held after change	Direct
	39,609.89 units - Perpetual's Wholesale Industrial Share Fund
	Indirect
	22,788.20 units - Perpetual Industrial Share Fund (PSA Superannuation Fund)
	46,829.02 units - Perpetual Industrial Share Fund (Seventh Bardo Pty Ltd)
	12,679.26 units - Perpetual Wholesale Industrial Share Fund (Seventh Bardo Pty Ltd)
Nature of change	Purchase and sale of units
Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in buy-back

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph $(ii)$ of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
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