Perpetual Limited — Director's Dealing 2011

Feb 16, 2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

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 30/09/01 Amended 01/01/11

Name of entity PERPETUAL 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	Philip Twyman
Date of last notice	16 December 2010

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 and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Units held by spouse of Philip Twyman, through a Colonial First State Super account Units held by First Dunedin Superannuation Fund of which P J Twyman and C J Twyman are the only members Units held by Philip Twyman, through a Colonial First State Super account Shares held by Queensland Trustees Pty Limited as trustee for Perpetual’s Non- Executive Share Purchase Plan Shares held by Carolyn Twyman, spouse of Philip Twyman Shares held by First Dunedin Superannuation Fund
Date of change	15 February 2011

• See chapter 19 for defined terms.

01/01/2011 D11/680

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	Held by C R Twyman, spouse of Philip Twyman, through a Colonial First State Pension account 311,075.83 units in Perpetual Wholesale Balanced Growth Fund 301,622.06 units in Perpetual Split Growth Fund Held by First Dunedin Superannuation Fund of which P J Twyman and C J Twyman are the only members 692,773.16 units in Perpetual Wholesale Balanced Growth Fund 324,412 units in Perpetual Wholesale Split Growth Fund Held by Philip Twyman, through a Colonial First State Super account 13,371.26 units in Perpetual Wholesale Balanced Growth Fund 8,654.18 units in Perpetual Wholesale Split Growth Fund Direct 1,335 shares held by Philip Twyman Indirect 6,272 shares held by Queensland Trustees Pty Limited as trustee for Perpetual’s Non- Executive Share Purchase Plan. 500 shares held by Carolyn Twyman, spouse of Philip Twyman
Class	Units
Number acquired	Nil
Number disposed	Held by C R Twyman, spouse of Philip Twyman, through a Colonial First State Pension account 4,266.67 units in Perpetual Wholesale Balanced Growth Fund 4,609.92 units in Perpetual Split Growth Fund

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

D11/680

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	4,266.67 units in Perpetual Wholesale Balanced Growth Fund @ $1.508 per unit 4,609.92 units in Perpetual Split Growth Fund @ $1.212 per unit
No. of securities held after change	Held by C R Twyman, spouse of Philip Twyman, through a Colonial First State Pension account 306,809.16 units in Perpetual Wholesale Balanced Growth Fund 297,012.14 units in Perpetual Split Growth Fund Held by First Dunedin Superannuation Fund of which P J Twyman and C J Twyman are the only members 692,773.16 units in Perpetual Wholesale Balanced Growth Fund 324,412 units in Perpetual Wholesale Split Growth Fund Held by Philip Twyman, through a Colonial First State Super account 13,371.26 units in Perpetual Wholesale Balanced Growth Fund 8,654.18 units in Perpetual Wholesale Split Growth Fund Direct 1,335 shares held by Philip Twyman Indirect 6,272 shares held by Queensland Trustees Pty Limited as trustee for Perpetual’s Non- Executive Share Purchase Plan. 500 shares held by Carolyn Twyman, spouse of Philip Twyman
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Rebalancing of portfolio

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.

• See chapter 19 for defined terms.

01/01/2011 D11/680

Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

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

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed Not applicable above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade Not applicable to proceed during this period? If prior written clearance was provided, on what date was this Not applicable provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 4

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D11/680