SUNCORP GROUP LIMITED — Capital/Financing Update 2008

May 13, 2008

Wednesday, 14 May 2008

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Suncorp CPS Update

Suncorp refers to media speculation in respect of the proposed offer of Convertible Preference Shares (CPS). Media speculation suggested that the offer size would be increased to $700 million and the margin will be set at 3.20%

Suncorp is yet to make a final decision on the size of the offer and margin for the CPS.

Subject to finalisation of the offer, a replacement prospectus is expected to be lodged with the Australian Securities and Investments Commission later today and further details will be released to the ASX at that time.

For further information, please contact:

Analyst enquiries: Mark Ley 0411 139 134

Media enquiries: Jamin Smith 0409 170 035

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