TELSTRA GROUP LIMITED — Director's Dealing 2010

Dec 12, 2010

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13 December 2010

The Manager

Company Announcements Office Australian Securities Exchange 4[th] Floor, 20 Bridge Street SYDNEY NSW 2000

Office of the Company Secretary

Level 41 242 Exhibition Street MELBOURNE VIC 3000 AUSTRALIA General Enquiries 08 8308 1721 Facsimile 03 9632 3215

ELECTRONIC LODGEMENT

Dear Sir or Madam

Appendix 3Y – Change in Director’s Interest Notice

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

Regards

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Carmel Mulhern

Company Secretary

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

Appendix 3Y Change of Director’s Interest Notice

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	RUSSELL HIGGINS
Date of last notice	17 SEPTEMBER 2009

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 INTEREST
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	PURCHASE OF SHARES, ON MARKET, BY CLARITY RESEARCH PTY LTD
Date of change	8 DECEMBER 2010
No. of securities held prior to change	DIRECT – 5,320 INDIRECT – 17,672
Class	ORDINARY SHARES
Number acquired	8,960
Number disposed	NIL
Value/Consideration Note: If consideration is non‐cash, provide details and estimated valuation	$25,028.35
No. of securities held after change	DIRECT – 5,320 INDIRECT–26,632
Nature of change Example: on‐market trade, off‐market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy‐back	ON MARKET PURCHASE OF SHARES

Part 2 – Change of director’s interests in contracts

NIL

• See chapter 19 for defined terms. 30/9/2001

Appendix 3Y Page 1