TELSTRA GROUP LIMITED — Capital/Financing Update 2005

Mar 6, 2005

MARKET RELEASE

7 March 2005

Telstra Corporation Limited

Commencement of Official Quotation

Official quotation of the following securities issued by Telstra Corporation Limited will commence on Wednesday 9 March 2005:

• A\$500,000,000 6.25% Fixed Rate Notes maturing 15 November 2013

ASX Code: TLSHA: ISIN: AU0000TLSHA5

These Notes are issued under euro 8,000,000,000 Debt Issuance Program.

The minimum trading consideration for the Notes is A\$500,000 and thereafter increments of A\$5,000 face value. The Notes are quoted on ASX's Wholesale Loan Securities Bulletin Board and currently not eligible to be settled in CHESS.

Bob Biven Market Co-ordinator Trading Market Development