Perpetual Limited — Director's Dealing 2005

Jul 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	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.	DirectUnits in Perpetual Wholesale Industrial ShareFundIndirectUnits in Perpetual Industrial Share Fund byPollard Strategy Associates Pty Ltd as trusteeof PSA Superannuation Fund.LindaNicholls is a member of thePSASuperannuation Fund.Units in Perpetual's Industrial Share Fund,by Seventh Bardo Pty Ltd. Linda Nicholls issole director of Seventh Bardo Pty Ltd.
Date of change	4 July 2005

No. of securities held prior to change	Direct
	49,793.60 units - Perpetual's WholesaleIndustrial Share Fund
	Indirect
	22,788.20 units - Perpetual Industrial ShareFund (PSA Superannuation Fund)
	46,829.02 units - Perpetual Industrial ShareFund (Seventh Bardo Pty Ltd)
Class	units
Number acquired	4117.95 unitsin Perpetual WholesaleIndustrial Share Fund (Seventh Bardo PtyLtd
Number sold	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Indirect
	$8,100.00 - Perpetual Wholesale IndustrialShare Fund (Seventh Bardo Pty Ltd)
No. of securities held after change	Direct
	49,793.60 units - Perpetual's WholesaleIndustrial Share Fund
	Indirect
	22,788.20 units - Perpetual Industrial ShareFund (PSA Superannuation Fund)
	46,829.02 units - Perpetual Industrial ShareFund (Seventh Bardo Pty Ltd)
	4,117.95 units - Perpetual WholesaleIndustrial Share Fund (Seventh Bardo PtyLtd
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Purchase of units

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