The National to Tender for External Audit Services - 22 March 2002

National Australia Bank announced today it is reviewing the provision of external audit services for the Group for the 2002/03 financial year onwards and has decided to open the contract for tender.

The review of external audit services is an integral part of the National's commitment to good corporate governance.

KPMG, our existing auditors, will be invited to participate as will other leading audit firms.

The review process will start in April 2002 and be completed in time for the 2002 Annual General Meeting.