Perpetual Limited — Major Shareholding Notification 2005

Jun 26, 2005

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

Perpetual Trustees Australia Limited ĬΟ ACN/ARSN 000 431 827

1. Details of substantial holder

Name.	Barclays Global Investors Australia Limited on behalf of the Barclays Group ("BGI")
ABN	33 001 804 566 (Barclays Global Investors Australia Limited)

The holder ceased to be a substantialholder on	-22 June 2005
The previous notice was given to thecompany on	9 June 2004
The previous notice was dated	9 June 2004

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interests of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of	Person whose	Nature of	Consideration	Class and	Person's
change	relevant	change	given in	number of	votes
	interest		relation to	securities	affected
	changed		change	affected
22/6/05	$BG \vdash$ see	Reduction in	Average price	604,560	1.55%
	Annexure A	vofing power	$55.39	ordinary

3. Changes in association

The persons who have becomes associates of, ceased to be associates of, or have changed the nature of their association with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN	Nature of association
(if applicable)
	See Annexure A

4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
	Barclays Giobal Investors 1/111 Harrington Street, Sydney NSW 2000
Australia Limited

Andrew Kuo Company SecretaryBarclays Global Investors Australia $Date$

This is "Annexure A" of 1 page referred to in Form 605 Notice of ceasing to be a substantial holder

Relevant interest in Perpetual Trustees Australia Limited ("PPT") held by the members of the Barclays Group.

The list of Barclays entities with relevant interest are as follows:

Barclays Global Investors Japan Trust & Banking Barclays Global Investors Japan Ltd Barclays Life Assurance Co Ltd Barclays Global Investors, N.A. Barclays Global Investors Ltd Barclays Capital Securities Ltd Barclays Global Fund Advisors Barclays Global Investors Australia Ltd

The JP Morgan Chase Bank Inc. and various other custodians (Custodians) hold shares in PPT as custodian and for which the members of the Barclays Group are either:

• the responsible entity or trustee of pooled investment products such as reaistered managed investment schemes (Funds); or
• the investment manager of Portfolios held for a number of institutional investors. The $\bullet$ institutional investors are generally superannuation funds regulated under the Superannuation Industry Supervision Act 1993.

The holding of shares in PPT was acquired as part of the wide portfolio of Australian shares and units acquired for the Funds and the Portfolios.

The members of the Barclays Group and the Custodians may hold relevant interests due to the capacity of these entities to dispose of the shares in PPT.

Each investor in a Fund owns an undivided interest in the Fund's assets, no client directly owns any asset of the Fund. The unitholding of each Fund varies from time to time as clients enter and withdraw from the Funds. The various institutional investors with portfolios delegate the management of the portfolios to the members of the Barclays Group.

Andrew Kuo Company Secretary Barclays Global Investors Australia

Date