Concise Financial Report

The financial statements and specific disclosures included in this report have been derived from the annual financial report 2001. The concise financial report cannot be expected to provide as full an understanding of the financial position, and financing and investing activitites of the entity as the annual financial report 2001.

A copy of the annual financial report 2001 is available on request without charge at any time from Shareholder Services and is also available from the website (www.national.com.au).