ASX Announcement - National Terminates Share Purchase Plan - 12 November 2003

National Australia Bank Limited (the National) ASX: NAB) has terminated the Share Purchase Plan.

The National has previously announced an ongoing policy of buying back capital issued under the Share Purchase Plan and various other schemes. Discontinuing the Share Purchase Plan will reduce the amount of new capital issued and subsequently bought back.

The National will maintain the Dividend Reinvestment and Bonus Share Plans which provide an easy and cost effective way for shareholders to increase their Shareholdings. The participation cap of 15,000 shares will continue to apply to the Dividend Reinvestment Plan and the Bonus Share Plan.