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Nat.Australia Bank (NAB)

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Friday 03 November, 2006

Nat.Australia Bank

Amendment to DRP package

National Australia Bank Ld
03 November 2006

Friday, 3 November 2006


National Australia Bank Limited ('National') today announced it had completed an
update of its Dividend Reinvestment Plan, Bonus Share Plan and UK Dividend Plan 
('Dividend Package') (attached).

The updates principally relate to non-material market conforming changes.  These

•         National now has the flexibility to arrange for participants to
receive shares under the Dividend Reinvestment Plan which are bought on market 
and transferred to them.  Previously participants could only be issued new 

•         Several non-material changes have been made to the pricing mechanism
when share entitlements are determined:

•         the price will now be determined over a seven day trading period
(previously it was calculated over four trading days);

•         the pricing period will now commence on the day after the record date
(previously it was two days after); and

•         the Directors of the National have the discretion to adopt a different
pricing period in respect of any dividend.  If they do so, the new pricing 
period will be announced to the ASX.

•         National will now notify participants of any material changes to the
plans.  Previously participants were required to be advised of all changes, no 
matter how minor.  All changes will continue to be announced to the Australian 
Stock Exchange in accordance with the Listing Rules.

At the same time, National has updated its Dividend Package shareholder booklet
which explains how each plan works.  A copy is available on the National's

For further information:

Brandon Phillips                                    Hany Messieh
Group Manager, External Relations                   Head of Investor Relations
T  03 8641 3857                                     T  03 8641 2312
M  0419 369 058                                     M  0414 446 876

or visit

This statement does not constitute an offer of any securities for sale.  The
securities offered will not be registered under the U.S. Securities Act of 1933
and may not be offered or sold in the United States absent registration or an 
applicable exemption from the registration requirements.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                  

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