National Announces Two New Directors - 2 March 2000

National Australia Bank Limited today announced that Dr Kenneth J Moss and Mr Geoffrey A Tomlinson have accepted invitations to join its Board of Directors.

Mr Tomlinson joins the Board on 22 March, while Dr Moss will join in August this year, upon his retirement from Howard Smith Limited.

Mr Tomlinson, 52, was Group Managing Director and Chief Executive Officer of National Mutual Holdings Limited, now AXA Australia, from 1995 until his retirement in 1998. He joined National Mutual in 1970 and throughout his career he gained extensive experience in financial services in Australia and overseas.

Dr Moss, 54, has been the Managing Director of Howard Smith Limited since 1993. Under his leadership, Howard Smith has benefited from a strong focus on growth and shareholder value, having significantly restructured its business activities and expanded internationally. It has a major focus on retailing and distribution, being a market leader in hardware supplies in Australia and has one of the largest port towage businesses in the world.

The National's Chairman, Mr Mark Rayner, welcomed the new appointments, saying: "Mr Tomlinson's experience in insurance, superannuation, savings and investment products and services in Australia, New Zealand and East Asia is an excellent match with a key aspect of the National's strategic direction.

"Dr Moss brings to the Board wide experience gained in senior management roles in Australia and the United Kingdom, leading major corporate restructuring and change management activities.

"The top level management experience of Dr Moss and Mr Tomlinson will complement the extensive experience of the current Board members".

Dr Moss is an honours graduate in Engineering from the University of Newcastle, where he also obtained a PhD in Mechanical Engineering. He is a Fellow of the Institution of Engineers (Australia) and a Fellow of the Australian Institute of Company Directors.

Dr Moss is also a Director and the Chairman-elect of Boral Limited, an Advisory Board Member of the Graduate School of Business at the University of Newcastle, and a Board Member of Hunter Medical Research Limited and the Australian Maritime Safety Authority.

Mr Tomlinson is a graduate in Economics from the University of Western Australia.

Since his retirement from AXA, Mr Tomlinson has joined the Boards of Amcor Limited, Mayne Nickless Limited and Neverfail Springwater Limited. He is also the Chairman of the e-Commerce company, Reckon Limited and of Programmed Maintenance Services Limited.