TELSTRA GROUP LIMITED — Director's Dealing 2006

Nov 23, 2006

24 November 2006

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

Appendix 3Y - Change in director's interest notices

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

The table below summarises the purchase of instalment receipts by Telstra directors under the Telstra 3 share offer.

	Direct interest	Indirect Interest	Total IRs
D McGauchie	27,800	3,000	30,800
S Trujillo	250,000	$\overline{\phantom{0}}$	250,000
B Hutchinson		155,000	155,000
C Livingstone	10,000	10,000	20,000
C Macek		50,000	50,000
J Stocker		24,150	24,150
P Willcox		12,500	12,500

Yours sincerely

Pont brak

Douglas Gration Company Secretary

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

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity TELSTRA CORPORATION LIMITED

ABN 33 051 775 556

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	BELINDA HUTCHINSON
Date of last notice	24 AUGUST 2006

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	CHANGE TO INDIRECT INTERESTS ONLY
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	PURCHASE OF T3 INSTALMENT RECEIPTS
Date of change	24 NOVEMBER 2006
No. of securities held prior to change	DIRECT - 38,912 (FPO) INDIRECT - 40,426 (FPO)
Class	INSTALMENT RECEIPTS
Number acquired	155.000
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$310,000
No. of securities held after change	DIRECT - 38,912 (FPO) INDIRECT - 40,426 (FPO) & 155,000 (IR)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	PURCHASE OF T3 INSTALMENT RECEIPTS

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity TELSTRA CORPORATION LIMITED

ABN 33 051 775 556

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	CATHERINE LIVINGSTONE
Date of last notice	24 AUGUST 2006

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	CHANGE TO INDIRECT AND DIRECT INTERESTS
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	PURCHASE OF T3 INSTALMENT RECEIPTS
Date of change	24 NOVEMBER 2006
No. of securities held prior to change	DIRECT-11,637 (FPO) INDIRECT $-27,800$ (FPO)
Class	INSTALMENT RECEIPTS
Number acquired	DIRECT- 10,000 INDIRECT - 10,000
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$40,000
No. of securities held after change	DIRECT $-11,637$ (FPO) & 10,000 (IR) INDIRECT - 27,800 (FPO) & 10,000 (IR)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan. participation in buy-back	PURCHASE OF T3 INSTALMENT RECEIPTS

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001

Name of entity TELSTRA CORPORATION LIMITED

ABN 33 051 775 556

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	CHARLES MACEK
Date of last notice	24 AUGUST 2006

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	CHANGE TO INDIRECT INTERESTS ONLY
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	PURCHASE OF T3 INSTALMENT RECEIPTS
Date of change	24 NOVEMBER 2006
No. of securities held prior to change	DIRECT-NIL INDIRECT $-53,704$ (FPO)
Class	INSTALMENT RECEIPTS
Number acquired	50,000
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$100,000
No. of securities held after change	DIRECT-NIL INDIRECT - 53,704 (FPO) & 50,000 (IR)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan. participation in buy-back	PURCHASE OF T3 INSTALMENT RECEIPTS

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity TELSTRA CORPORATION LIMITED

ABN 33 051 775 556

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	DONALD MCGAUCHIE
Date of last notice	24 AUGUST 2006

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	CHANGE TO DIRECT AND INDIRECT INTERESTS
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	PURCHASE OF T3 INSTALMENT RECEIPTS
Date of change	24 NOVEMBER 2006
No. of securities held prior to change	DIRECT - 1,866 (FPO) INDIRECT - 68,278 (FPO)
Class	INSTALMENT RECEIPTS
Number acquired	DIRECT-27,800 INDIRECT - 3,000
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$61,600
No. of securities held after change	DIRECT $-1,866$ (FPO) & 27,800 (IR) INDIRECT - 68,278 (FPO) & 3,000 (IR)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan. participation in buy-back	PURCHASE OF T3 INSTALMENT RECEIPTS

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity TELSTRA CORPORATION LIMITED

ABN 33 051 775 556

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	JOHN STOCKER
Date of last notice	24 AUGUST 2006

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	CHANGE TO INDIRECT INTERESTS ONLY
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	PURCHASE OF T3 INSTALMENT RECEIPTS
Date of change	24 NOVEMBER 2006
No. of securities held prior to change	DIRECT-2,953 (FPO) INDIRECT - 99,985 (FPO)
Class	INSTALMENT RECEIPTS
Number acquired	24,150
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$48,300
No. of securities held after change	DIRECT - 2,953 (FPO) INDIRECT - 99,985 (FPO) & 24,150 (IR)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan. participation in buy-back	PURCHASE OF T3 INSTALMENT RECEIPTS

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity TELSTRA CORPORATION LIMITED

ABN 33 051 775 556

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	SOLOMON TRUJILLO
Date of last notice	4 JULY 2005

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	CHANGE TO DIRECT INTERESTS ONLY
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	PURCHASE OF T3 INSTALMENT RECEIPTS
Date of change	24 NOVEMBER 2006
No. of securities held prior to change	DIRECT-NIL INDIRECT - NIL
Class	INSTALMENT RECEIPTS
Number acquired	250,000
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$525,000
No. of securities held after change	DIRECT - 250,000 (IR) INDIRECT - NIL
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	PURCHASE OF T3 INSTALMENT RECEIPTS

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity TELSTRA CORPORATION LIMITED

ABN 33 051 775 556

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	PETER WILLCOX
Date of last notice	24 AUGUST 2006

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	CHANGE TO INDIRECT INTERESTS ONLY
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	PURCHASE OF T3 INSTALMENT RECEIPTS
Date of change	24 NOVEMBER 2006
No. of securities held prior to change	DIRECT-NIL INDIRECT - 31,897 (FPO)
Class	INSTALMENT RECEIPTS
Number acquired	12,500
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$25,000
No. of securities held after change	DIRECT-NIL INDIRECT - 31,897 (FPO) & 12,500 (IR)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	PURCHASE OF T3 INSTALMENT RECEIPTS