TELSTRA GROUP LIMITED — Board/Management Information 2002

Nov 28, 2002

Office of the Company Secretary

29 November 2002 The Manager Company Announcements Office Australian Stock Exchange 10th Floor, 20 Bond Street SYDNEY NSW 2000

Level 41 242 Exhibition Street MELBOURNE VIC 3000 AUSTRALIA

Telephone 03 9634 6400 Facsimile 03 9632 3215

ELECTRONIC LODGEMENT

Dear Sir or Madam

Telstra's changes to better serve customers

In accordance with the listing rules I attach an announcement for release to the market.

Yours sincerely

North braking

Douglas Gration Company Secretary

Telstra Corporation Limited ACN 051 775 556 ABN 33 051 775 556

Media Release

29 November, 2002

Telstra's changes to better serve customers

Telstra Corporation today announced organisational changes which will better serve all customers.

Telstra CEO Dr Ziggy Switkowski said the three existing groups of Telstra Retail, Telstra Mobile and Telstra Country Wide would be realigned to better serve customer needs for convenient and effective contact and service from Telstra.

Dr Switkowski said: "The Australian telecommunications industry is completing its correction phase and preparing to enter a new era of growth fuelled by exciting new wireless, broadband, entertainment and information products.

"It is timely now for Telstra to adjust the organisational framework to ensure we execute successfully on our integrated full service strategy and continue to lead in all our businesses, taking account of the different needs of our various customer groups, while permitting our senior leaders to operate at their full potential and deliver improving business results.

"These changes are a sensible next step in the organisational development and evolution of this company and our efforts to continue the improvements we have made in our customer service."

A new Group, Telstra Consumer and Marketing, is created with responsibility for serving consumer customers with Telstra products including fixed and wireless and data, the management of Telstra's brands, advertising and sponsorships, and for implementing the Company's product bundling initiatives. The existing Telstra Mobile Group, excluding Corporate sales, will form the core of this organisation, which will also include Customer Care, and product management groups.

Mr Ted Pretty is appointed Group Managing Director, Telstra Consumer and Marketing.

Telstra Enterprises is also created out of the former Telstra Retail Group with responsibility for serving Telstra's corporate, business, small to medium enterprises and government customers with the full range of Telstra products and systems of interest to this group of customers.

Mr David Thodev is appointed Group Managing Director, Telstra Enterprises.

The sales and service area of Telstra Country Wide is increased to include the following communities:

•Old: Sunshine Coast, Redcliffe, Ipswich, Logan, Gold Coast.

•NSW: Newcastle, Central Coast, Penrith/Nepean Hawkesbury Valley, Wollongong, Canberra.

•Vic: Werribee, Geelong, Outer Northern Melbourne, Cranbourne, Pakenham, Mornington Peninsula

$1...2$

396/2002

Dr Switkowski said: "This extends the successful TCW customer focused business model involving local management to more provincial and outer metropolitan areas."

Mr Doug Campbell continues as Group Managing Director, Telstra Country Wide, and Group Managing Director, Telstra Technology.

The Networks and Technology Group is renamed Telstra Technology and will give increasing priority to innovation, new product commercialisation and the maintenance of Telstra's competitive advantage from its world class networks and engineering.

Dr Switkowski said Telstra would also bring together its broadband, online and media businesses in a new Group comprising Telstra's broadband and online services business, its directories and advertising business Sensis, and Telstra Media (including Telstra's Foxtel investment).

The new group will be headed by Mr Bruce Akhurst who becomes GMD Broadband, On-line and Media Services while continuing with his current responsibilities of GMD Wholesale and General Counsel. Mr Akhurst relinquishes Regulatory from his portfolio.

Mr Bill Scales will take on additional responsibilities for Regulatory Affairs with his appointment as Group Managing Director, Regulatory, Corporate and Human Relations.

The portfolios of Group Managing Directors David Moffatt, Chief Financial Officer, Dick Simpson, President of Telstra International, and Michael Rocca, Infrastructure Services, remain unchanged.

Dr Switkowski said: "As this organisational structure is implemented, our priorities remain continuity of service improvements, building momentum in our revenues and profits and achieving ever higher levels of customer satisfaction.

"Evolution of our structure will also see continuing reduction in management layers, elimination of duplicate activities and reduction of corporate overheads through process improvement.

"As well as ensuring that strategy and structure are properly aligned, these adjustments to individual GMD responsibilities continue the process of ensuring a balanced senior team of leaders with widening telecommunications experiences across many elements of our businesses."

The portfolio changes take place from January 1, 2003.

Media contact: Michael Grealy, National Manager Media Relations 02 9206 0106

Telstra media releases are posted on the Telstra Newsroom. The address is: www.telstra.com.au/newsroom