National Announces Change to Board of Directors - 25 February 2000

National Australia Bank Limited announced today that Mr Thomas P Park would stand down from its Board of Directors on 29 February 2000.

Mr Park has accepted an executive appointment with Southcorp Holdings Limited commencing on 6 March 2000. This would result in two Non-Executive Directors of the National holding executive positions at Southcorp. Mr Graham Kraehe, who was appointed to the National's Board in 1997, is Managing Director and Chief Executive Officer at Southcorp.

As a matter of good corporate governance, Mr Park tendered his resignation. The Board of the National has accepted Mr Park's resignation with great regret.

The National's Chairman, Mr Mark Rayner, said: "Mr Park has contributed significantly to the National's strong performance. We have benefited greatly from his broad industry experience and thank him for his support over the last three years. We wish him all the best in his new role at Southcorp."

Prior to his new appointment Mr Park had been Executive Vice President North Asia, South-East Asia, Australia and New Zealand for Kraft Foods International.