ASX Announcement - National to Select a New External Auditor - 7 April 2004

The National Australia Bank has announced that it intends to change its external auditor at the end of the current financial year ending 30 September 2004.

The Chairman of the Board Audit Committee, Mr John Thorn, said a process will now be undertaken to select a new auditor to commence at the start of the 2004-2005 financial year.

"KPMG will continue as external auditor for the current financial year but we have decided as part of the National's change program that KPMG will not be invited to participate in the selection process for a new external auditor," Mr Thorn said.

"KPMG have been the National's external auditor for many years and the decision to seek a new external auditor does not in any way call into question the quality of KPMG's audit.

"Shareholders will be asked to approve the appointment of the new external auditor at the National's next Annual General Meeting."

For further information:

Brandon Phillips
Corporate Relations Manager
Group Corporate Affairs
03 8641 3857 work 
0419 369 058 mobile