National Australia Bank Director Retires - 30 March 2000

Mr David Macfarlane retired as a Director of National Australia Bank Limited on 27 March 2000, having reached the normal retirement age of 70 years under the National's Constitution.

Mr Macfarlane joined the Board in 1985 and was elected Vice Chairman in 1992.

The National's Chairman, Mr Mark Rayner, said: "Mr Macfarlane has served the company with distinction during a period of significant growth and globalisation at the National. His contribution and breadth of experience will be missed."

Mr Macfarlane brought to the Board a wealth of management experience, having been the Managing Director of James Hardie Industries Limited for 12 years until 1990.

Mr Macfarlane also served as Chairman of the Audit Committee, and as Chairman of National Australia Asset Management Limited during a time of major achievements and business expansion.

As previously announced, Mr Geoffrey Tomlinson joined the Board of the National on 22 March 2000.