ASX Announcement - NAB completes sale of MLC Hong Kong and MLC Indonesia

National Australia Bank Limited today announced the completion of the sale of its life insurance companies in Asia, MLC Hong Kong and MLC Indonesia, to AXA Asia Pacific.

The sale, announced on 21 February 2006, was subject to certain regulatory approvals which have been obtained.

Settlement was effected today and completion of the sale has occurred on terms consistent with the original sale announcement.

For further information:

Brandon Phillips
Group Manager, External Relations
T  03 8641 3857
M  0419 369 058

Hany Messieh
Head of Investor Relations
T  03 8641 2312
M  0414 446 876

Kim Lovely
External Relations Manager
T  03 8641 4982
M  0406 035 243