TELSTRA GROUP LIMITED — Board/Management Information 2005

Sep 25, 2005

26 September 2005

The Manager

Company Announcements Office Australian Stock Exchange 4^th Floor, 20 Bridge Street SYDNEY NSW 2000

Office of the Company Secretary

Level 41 242 Exhibition Street MELBOURNE VIC 3000 AUSTRALIA

Telephone 03 9634 6400 Facsimile 03 9632 3215

ELECTRONIC LODGEMENT

Dear Sir or Madam

Employment contract of CEO

On 9 June 2005 Telstra entered into and released to the market an employment contract appointing Sol Trujillo as Chief Executive Officer with effect from 1 July 2005. It has been drawn to Telstra's attention that clause 8.8 of the contract, relating to termination of the contract in the most unlikely event of a takeover of Telstra, is inconsistent with ASX Listing Rule 10.18. The inconsistency was inadvertent. Mr Trujillo has agreed to waive his rights under clause 8.8 to ensure that Telstra is in compliance with the Listing Rules.

Yours sincerely

Pont brak

Douglas Gration Company Secretary

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