NAB confirms approval to purchase 20% stake in UTI

National Australia Bank Limited today confirmed it has received regulatory approval to acquire a 20% stake in Union Trust & Investment Limited (UTI) based in China.

UTI is part of China's evolving trust sector and primarily originates and manages property trusts. The investment fits within nabCapital's business portfolio - the NAB Group's capital markets and institutional banking division - and aims to leverage its capabilities in structured property finance.

The transaction, announced on 10 September 2007, is in the final stages of completion.

For further information:

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Brandon Phillips
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Investor Relations
Hany Messieh
M: +61 (0) 414 446 876