SUNCORP GROUP LIMITED — Capital/Financing Update 2009

May 18, 2009

19 May 2009

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CONVERTIBLE PREFERENCE SHARE ISSUE DATE VWAP ADJUSTED

Following capital raising activities, completed March 2009, Suncorp has adjusted the issue date volume weighted average market price (VWAP) of its convertible preference shares (SUNPB).

The issue date VWAP adjustment, from $14.79 to $14.38, was made in accordance with clause 6.5 of the SUNPB terms.

The institutional and retail entitlement offers were included in this adjustment but the institutional placement was excluded as it did not satisfy the SUNPB terms for an adjustment to the issue date VWAP.

ENDS

For more information, analysts / investors should contact: Nicole Marques – 07 3835 5797

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