1. Full Year Results – 30 June 2003 Presentation to Media David Murray 20 August 2003 www.commbank.com.au

2. Full Year Results 20 August 2003 2 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 2003. 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

3. Full Year Results 20 August 2003 3 Agenda Results  Group  Business Segments Outlook  Operating Environment  Financial Services Industry Direction

4. Full Year Results 20 August 2003 4 3% 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

5. Full Year Results 20 August 2003 5 Another record dividend Dividends per Share Dividend Payout Ratio Jun 2003 154cps 75.9% Jun 2002 150cps 76.2% Change 3% - 42 60 82 90 102 104 115 130 136 150 154

6. Full Year Results 20 August 2003 6 Banking performance drives a 9% underlying growth

7. Full Year Results 20 August 2003 7 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

8. Full Year Results 20 August 2003 8 Steady operating margins and improving investment returns for life insurance

9. Full Year Results 20 August 2003 9 Implementation of strategic initiatives Redesign of our branch telling system Small business and corporate process redesign Home loan process redesign ATM replacement NetBank upgrade

10. Full Year Results 20 August 2003 10 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

11. Full Year Results 20 August 2003 11 Privatisation Value Creation Phases EfficiencyOnline Service Wealth Management Service Transformation

12. Full Year Results 20 August 2003 12 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

13. Full Year Results 20 August 2003 13 Colonial merger, added banking, funds and life insurance to an existing product mix

14. Full Year Results 20 August 2003 14 Customer service culture, the next transformation Customer Service through Engaged People supported by Simple Processes

15. Full Year Results – 30 June 2003 Presentation to Media David Murray 20 August 2003 www.commbank.com.au