National Australia Bank Brings Forward 2008 Full Year Results Announcement

Thursday, 16 October 2008

Three weeks ago, while markets were experiencing extreme levels of volatility and uncertainty, NAB decided to commence efforts to bring forward its September 2008 full year results announcement in order to provide the market with additional clarity on its financial position.

As a result of these efforts, NAB will complete its year end results for announcement on 21 October 2008.

Whilst the details of the full year results continue to be finalised, NAB is able to provide the following guidance to the market:

• Cash earnings will be around consensus, which NAB estimates to be approximately $3.9 billion
• The Group will report strong capital and liquidity ratios, with Tier 1 clearly above 7%
• The Group's September 2008 final dividend per share is expected to match its March 2008 half year dividend per share 
• NAB intends to further strengthen its capital position having regard to ongoing global economic uncertainty.  Consistent with this objective, the Group notes:
  • The current Tier 1 ratio benefited from capital raised equal to the DRP shortfall on the Group's first half dividend payment.  The Group intends to continue this general strategy for the next two dividend payments; and
  • The Group will continue to explore opportunities to utilise Tier 1 hybrid capacity

The decision to bring forward the release of the 2008 full year results has been made in the interests of providing certainty to the market and does not foreshadow any proposed material announcement.

For further information:

Media
Brandon Phillips
M: +61 (0) 419 369 058

Investor Relations
Nehemiah Richardson
M: +61 (0) 427 513 233

Hany Messieh
M: +61 (0) 414 446 876