SUNCORP GROUP LIMITED — Capital/Financing Update 2008

May 13, 2008

Wednesday, 14 May 2008

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Suncorp CPS bookbuild completed

Further to its ASX release on 6 May 2008, Suncorp is pleased to announce that the bookbuild for the proposed offer of convertible preference shares (CPS) was completed yesterday.

Full details of the offer can be found in the replacement prospectus 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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