Perpetual Limited — Director's Dealing 2005

Mar 14, 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	Jane Couchman
Date of last notice	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	Direct
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.
Date of change	3 March 2005
No. of securities held prior to change	Direct
	Nil – Perpetual's Industrial Share FundNil - Perpetual's Smaller Companies Fund
Class	units
Number acquired	462.75 units - Perpetual's Industrial ShareFund
	598.80Perpetual'sSmallerunits$\overline{\phantom{a}}$Companies Fund
Number sold	NIL

Value/Consideration	$1,000 ($2.161 per unit in Perpetual's
Note: If consideration is non-cash, provide details and estimated valuation
	Industrial Share Fund)
	$1,000 ($1.670 per unit in Perpetual's
	Smaller Companies Fund)
No. of securities held after change	462.75 units in Perpetual's Industrial Share
	Fund
	units in598.80SmallerPerpetual's
	Companies Fund
Nature of change	Purchase of units in managed funds
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 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