SUNCORP GROUP LIMITED — Board/Management Information 2008

May 7, 2008

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Thursday 8 May 2008

SUNCORP WEALTH MANAGEMENT EXECUTIVE CHANGES

Suncorp today announced the retirement of Group Executive Wealth Management, Dennis Fox - after a career spanning over 35 years in financial services. Mr Fox will retire on July 31 this year.

Suncorp has appointed Geoffrey Summerhayes, most recently Australian General Manager Specialised Businesses for the National Australia Bank and MLC, to succeed Mr Fox.

In announcing these senior management changes, Suncorp chief executive John Mulcahy noted the outstanding contribution of Dennis Fox to Australia’s financial services industry.

He also acknowledged the key contribution Mr Fox had made to Promina and, more recently, to the growth of Suncorp Wealth Management.

“Dennis played a key role in the growth of brands such as Tyndall and Asteron in Australia and New Zealand. He was also a former chief executive of Royal & Sun Alliance Financial Services.

“This depth of experience has been invaluable in integrating the Promina and Suncorp wealth management businesses. All at Suncorp thank Dennis for his contribution and wish him well for his retirement,” Mr Mulcahy said.

Dennis Fox said, “The integrated businesses of Suncorp Wealth Management are ideally placed to capture the inherent growth in asset management, life insurance and financial planning as Australians and New Zealanders continue to protect and grow their long term assets to enjoy in retirement.

“Our businesses are now ready and able to increase their share of this growth. Now is the right time for me to retire and hand over to Geoffrey Summerhayes who can lead Suncorp Wealth Management into this exciting future.”

Prior to his most recent position, Geoffrey Summerhayes had a number of investment management, corporate development, strategy, mergers and acquisitions and marketing roles with NAB, MLC and Lend Lease.

In announcing his appointment, John Mulcahy said Geoffrey Summerhayes brought a range of skills to Suncorp that would enhance the recent progress in its wealth management business.

“Geoffrey has the necessary mix of strategic, corporate development and marketing experience to build on our current strengths in wealth management. He also has strong technical knowledge in the wealth management area.

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“His appointment will be an important addition to the highly experienced group of senior managers we have across Suncorp,” Mr Mulcahy said.

Mr Summerhayes will begin with Suncorp on May 26 providing an opportunity to transition with Mr Fox.

For further information, please contact:

Media enquiries: Analyst enquiries: Natasha Schmid 0434 073 045 Mark Ley 0411 139 134

About Suncorp:

Suncorp is one of Australia and New Zealand’s largest diversified financial services providers, supplying banking, insurance and wealth management products to around 7 million customers through well-established and recognised brands such as AAMI, Australian Pensioners Insurance Agency, Shannons, Vero, Asteron and Tyndall, as well as Suncorp and GIO. Today Suncorp is Australia's sixth largest bank and second largest domestic general insurance group, with over 16,000 staff. Suncorp has representation in 450 offices, branches and agencies throughout Australia and New Zealand.

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