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Nat.Australia Bank (NAB)

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Monday 20 November, 2006

Nat.Australia Bank

Purchase of DRP shares

National Australia Bank Ld
20 November 2006

ASX Announcement

Melbourne, Friday 17 November 2006

Purchase of shares on-market for Dividend Reinvestment Plan

As announced on Friday 3 November 2006, National Australia Bank Limited 
('National') intends to neutralise the capital impact of its obligations under
the National's Dividend Reinvestment Plan.

UBS AG, Australia Branch ('UBS') has been appointed as broker to undertake the
purchase and transfer of up to approximately $100 million worth of National
shares on-market under this Plan.

Purchases by UBS will commence today and will continue through the 7 day pricing
period of the Dividend Reinvestment Plan to the close on Monday 27 November

The terms of the Dividend Reinvestment Plan require the number of shares to be
allocated to participants in the Plan to be rounded up to the next full share.
This will lead to a difference at the end of the pricing period that will be
balanced by UBS prior to close on Tuesday 28 November 2006. The number of shares
that will be subject to rounding will not be material.

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

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

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