ASX Announcement - National's hybrid Tier 1 capital issue

National Australia Bank today released an offer document for a proposed issue of Tier 1 National Capital Instruments ("NCIs") to wholesale investors.

The proposed issue of hybrid Tier 1 capital is consistent with the National's objective of efficient capital management and is part of National's ongoing capital management program.  The proceeds from the proposed Tier 1 issue will be used for general business purposes.

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