Perpetual Limited — Director's Dealing 2005

Aug 29, 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
IABN	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	David Deverall
Date of last notice	31 May 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 relevantinterest.	IndirectShares held by Queensland Trustees PtyLimited as trustee for Perpetual's ExecutiveShare PlanDirectOptions held in Perpetual's Executive OptionPlan
Date of change	29 August 2005
No. of securities held prior to change	39,646 ordinary shares63,242 options
Class	Ordinary shares and options

Number acquiredNumber disposed	Indirect7,036 ordinary shares at an issue price of$56.85 eachDirect28,144 options at an exercise price of $56.85eachNil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvalustion	28,144 options and 7,036 shares weregranted under Perpetual's Executive OptionPlan and Executive Share Plan. The optionsand shares were granted pursuant to the termsof long term incentive arrangements as setout in David Deverall's executive serviceagreement and approved by shareholders.The options and shares constitute part of thelong term incentive for the financial yearcommencing 1 July 2005. Vesting ofsecurities is subject to performance hurdles inaccordance with long term incentivearrangements.
No. of securities held after change	46,682 ordinary shares91,386 options
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Acquisition of sharesandoptionsinaccordance with remuneration arrangements.

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 towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed

Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation
Interest after change