Full Year Results – 30 June 2003 Presentation to Media David Murray 20 August

Full Year Results 20 August The material that follows is a presentation of general background information about the Bank’s activities current at the date of the presentation, 20 August It is information given in summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate. Disclaimer

Full Year Results 20 August Agenda Results  Group  Business Segments Outlook  Operating Environment  Financial Services Industry Direction

Full Year Results 20 August % increase in cash profit in line with expectations at last AGM Statutory Net Profit After Tax Net Profit After Tax (cash basis)* Earnings per Share (cash basis)* Jun 2003 $2,012m $2,579m 203cps Jun 2002 $2,655m $2,501m 197cps Change (24%) 3% *excluding goodwill amortisation of $322 million and reduction in appraisal value of the wealth management businesses of $245 million

Full Year Results 20 August Another record dividend Dividends per Share Dividend Payout Ratio Jun cps 75.9% Jun cps 76.2% Change 3%

Full Year Results 20 August Banking performance drives a 9% underlying growth

Full Year Results 20 August Lower results in funds management consistent with tough market conditions Income to FUM stable at 116 basis points FirstChoice growing rapidly to $3.2bn Net Funds Flow $bn *Cash Management Trusts ^ Non-UK includes New Zealand and Asia

Full Year Results 20 August Steady operating margins and improving investment returns for life insurance

Full Year Results 20 August Implementation of strategic initiatives Redesign of our branch telling system Small business and corporate process redesign Home loan process redesign ATM replacement NetBank upgrade

Full Year Results 20 August Outlook Operating Environment Australian economy reasonably resilient but remains dependent on US recovery  Positive signs emerging  Significant potential financial imbalances from US deficits Financial Services Industry Highly competitive Environment of reducing margins Possible slowing of credit growth

Full Year Results 20 August Privatisation Value Creation Phases EfficiencyOnline Service Wealth Management Service Transformation

Full Year Results 20 August Online banking, integral to the way customers transact First major bank to launch internet banking 2.8m customers registered for NetBank 1.3m customers registered for our other internet services including:  CommSec  First Net and First Net Adviser Over half of all bill payments now being done online Almost half of all home loan redraws now done online

Full Year Results 20 August Colonial merger, added banking, funds and life insurance to an existing product mix

Full Year Results 20 August Customer service culture, the next transformation Customer Service through Engaged People supported by Simple Processes

Full Year Results – 30 June 2003 Presentation to Media David Murray 20 August