ASX Announcement AMP - 28 August 2001

The National Australia Bank is subject from time to time to media speculation about its strategic intentions. The National has a policy of not commenting on such market speculation. However, the National keeps the market fully informed in compliance with its continuous disclosure obligations.

Notwithstanding this, in response to a specific requirement of the Australian Securities Exchange query made of the National today, we advise that the National is not in merger discussions with the AMP.