TELSTRA GROUP LIMITED — Director's Dealing 2007

Aug 21, 2007

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22 August 2007

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 change to the Director’s indirect holdings in Telstra GrowthShare Pty Ltd as trustee for the Telstra DirectShare plan represent an allocation of Telstra shares to Directors on 17 August 2007 under the DirectShare Plan.

Yours sincerely

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Douglas Gration Company Secretary

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

Rule 3.19A.2

Appendix 3Y Change of Director’s Interest Notice

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	GEOFFREY COUSINS
Date of last notice	28 FEBRUARY 2007

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.	ALLOCATION OF SHARES TO TELSTRA GROWTHSHARE PTY LIMITED ATF TELSTRA DIRECTSHARE PLAN.
Date of change	17 AUGUST 2007
No. of securities held prior to change	DIRECT – NIL INDIRECT – 1,747 (FPO)
Class	ORDINARY
Number acquired	3,143 (FPO)
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$13,641
No. of securities held after change	DIRECT – NIL INDIRECT – 4,890(FPO)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	ALLOCATION OF TELSTRA SHARES UNDER THE DIRECTSHARE PLAN.

Part 2 – Change of director’s interests in contracts NIL

Rule 3.19A.2

Appendix 3Y Change of Director’s Interest Notice

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	28 FEBRUARY 2007

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.	ALLOCATION OF SHARES TO TELSTRA GROWTHSHARE PTY LIMITED ATF TELSTRA DIRECTSHARE PLAN.
Date of change	17 AUGUST 2007
No. of securities held prior to change	DIRECT – 40,576 (FPO) INDIRECT – 42,857 (FPO) & 155,000 (IR)
Class	ORDINARY
Number acquired	3,913 (FPO)
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$16,982
No. of securities held after change	DIRECT – 40,576 (FPO) INDIRECT – 46,770(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	ALLOCATION OF TELSTRA SHARES UNDER THE DIRECTSHARE PLAN.

Part 2 – Change of director’s interests in contracts

NIL

Rule 3.19A.2

Appendix 3Y Change of Director’s Interest Notice

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	28 FEBRUARY 2007

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.	ALLOCATION OF SHARES TO TELSTRA GROWTHSHARE PTY LIMITED ATF TELSTRA DIRECTSHARE PLAN.
Date of change	17 AUGUST 2007
No. of securities held prior to change	DIRECT – 3,744 (FPO) &10,000 (IR) INDIRECT – 40,349 (FPO) & 10,000 (IR)
Class	ORDINARY
Number acquired	4,067 (FPO)
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$17,651
No. of securities held after change	DIRECT – 3,744 (FPO) &10,000 (IR) INDIRECT – 44,416(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	ALLOCATION OF TELSTRA SHARES UNDER THE DIRECTSHARE PLAN.

Part 2 – Change of director’s interests in contracts

NIL

Rule 3.19A.2

Appendix 3Y Change of Director’s Interest Notice

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	16 AUGUST 2007

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.	ALLOCATION OF SHARES TO TELSTRA GROWTHSHARE PTY LIMITED ATF TELSTRA DIRECTSHARE PLAN.
Date of change	17AUGUST 2007
No. of securities held prior to change	DIRECT – 1554 (FPO) INDIRECT – 56,728 (FPO) & 70,000 (IR)
Class	ORDINARY
Number acquired	4,374 (FPO)
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$18,983
No. of securities held after change	DIRECT – 1,554 (FPO) INDIRECT – 61,102(FPO)& 70,000(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	ALLOCATION OF TELSTRA SHARES UNDER THE DIRECTSHARE PLAN.

Part 2 – Change of director’s interests in contracts

NIL

Rule 3.19A.2

Appendix 3Y Change of Director’s Interest Notice

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	28 FEBRUARY 2007

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.	ALLOCATION OF SHARES TO TELSTRA GROWTHSHARE PTY LIMITED ATF TELSTRA DIRECTSHARE PLAN.
Date of change	17 AUGUST 2007
No. of securities held prior to change	DIRECT – 4,373 (FPO) & 27,800 (IR) INDIRECT – 77,159(FPO) & 3,000 (IR)
Class	ORDINARY
Number acquired	10,880 (FPO)
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$47,219
No. of securities held after change	DIRECT – 4,373 (FPO) & 27,800 (IR) INDIRECT – 88,039(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	ALLOCATION OF TELSTRA SHARES UNDER THE DIRECTSHARE PLAN.

Part 2 – Change of director’s interests in contracts

NIL

Rule 3.19A.2

Appendix 3Y Change of Director’s Interest Notice

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	28 FEBRUARY 2007

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.	ALLOCATION OF SHARES TO TELSTRA GROWTHSHARE PTY LIMITED ATF TELSTRA DIRECTSHARE PLAN.
Date of change	17 AUGUST 2007
No. of securities held prior to change	DIRECT – 6,178 (FPO) INDIRECT – 101,821 (FPO) & 24,150 (IR)
Class	ORDINARY
Number acquired	4,836 (FPO)
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$20,988
No. of securities held after change	DIRECT – 6,178 (FPO) INDIRECT – 106,657(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	ALLOCATION OF TELSTRA SHARES UNDER THE DIRECTSHARE PLAN.

Part 2 – Change of director’s interests in contracts

NIL

Rule 3.19A.2

Appendix 3Y Change of Director’s Interest Notice

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	28 FEBRUARY 2007

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.	1. ON-MARKET PURCHASE OF ORDINARY SHARES BY THE PETER JOHN WILLCOX SUPERANNUATION FUND. 2. ALLOCATION OF SHARES TO TELSTRA GROWTHSHARE PTY LIMITED ATF TELSTRA DIRECTSHARE PLAN.
Date of change	1. 16 AUGUST 2007 2. 17 AUGUST 2007
No. of securities held prior to change	DIRECT – NIL INDIRECT – 35,523 (FPO) & 12,500 (IR)
Class	ORDINARY
Number acquired	1. 10,000 (FPO) 2. 3,451(FPO)
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	1. $43,000 2. $14,977
No. of securities held after change	DIRECT – NIL INDIRECT – 48,974(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	1. ON-MARKET TRADE. 2. ALLOCATION OF TELSTRA SHARES UNDER THE DIRECTSHARE PLAN.

Part 2 – Change of director’s interests in contracts

NIL

Rule 3.19A.2

Appendix 3Y Change of Director’s Interest Notice

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 ZEGLIS
Date of last notice	28 FEBRUARY 2007

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.	ALLOCATION OF SHARES TO TELSTRA GROWTHSHARE PTY LIMITED ATF TELSTRA DIRECTSHARE PLAN.
Date of change	17 AUGUST 2007
No. of securities held prior to change	DIRECT – 16,500 (FPO) INDIRECT –5,355 (FPO)
Class	ORDINARY
Number acquired	3,297 (FPO)
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$14,309
No. of securities held after change	DIRECT – 16,500 (FPO) INDIRECT – 8,652(FPO)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	ALLOCATION OF TELSTRA SHARES UNDER THE DIRECTSHARE PLAN.

Part 2 – Change of director’s interests in contracts

NIL