ASX Announcement - MLC Completes Sale of Thailand Business - 3 February 2005

MLC has completed the sale of its interest in its Thailand joint-venture insurance company (Advance MLC Assurance Company Limited) to joint-venture partner the Soon Hua Seng International Company Limited.

This completes MLC's withdrawal from the Thai insurance market following a strategic review in 2003, which resulted in a decision to cease new business sales in May 2003.

For further information contact:

Tanny Tsanis
MLC Corporate Affairs    
02 8908 6162 work     
0419 862 000 mobile

Samantha Evans
Group Corporate Affairs
03 8641 4982 work
0404 883 509 mobile