Perpetual Limited — Director's Dealing 2005

Mar 16, 2005

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
IA BN	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	Philip Twyman
Date of last notice	15 March 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	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Units in Perpetual Wholesale IndustrialShare Fund, Perpetual Wholesale BalancedGrowth Fund and Perpetual WholesaleInternational Fund held by spouse of PhilipTwyman, through a Colonial Firststate Superaccount
Date of change	9 March 2005
No. of securities held prior to change	34,361.31 units in Perpetual WholesaleIndustrial Share Fund106,411.28 units in Perpetual WholesaleBalanced Growth FundNil- Perpetual Wholesale International Fund
Class	units

Appendix 3Y

Number acquired	16,831.21 units - Perpetual's WholesaleIndustrial Share Fund
	35,269.68 units - Perpetual's WholesaleBalanced Growth Fund
	18,444.09 units - Perpetual's WholesaleInternational Fund
Number sold	NIL
Value/ConsiderationNote: If consideration is non-eash, provide details and estimated valuation	$19,815.38 ($1.1773 per unit in PerpetualWholesale Industrial Share Fund)
	$40,020.50 ($1.1347 per unit in PerpetualWholesale Balanced Growth Fund)
	$20,035.82 ($1.0863 per unit in Perpetual'sWholesale International Fund)
No. of securities held after change	51,192.52 units in Perpetual WholesaleIndustrial Share Fund
	141,680.96 units in Perpetual WholesaleBalanced Growth Fund
	18,444.09 units in Perpetual's WholesaleInternational Fund
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 in managed funds

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 and anestimated valuation
Interest after change