NO.011

I am pleased to announce the re-appointment to the Financial Sector Advisory Council

(FSAC) of Mr Maurice Newman (Chairman), Mr Terry Budge,

Mrs Patricia Cross, Mr Les Hosking, Mr Richard Sheppard and

Mr John Trowbridge.

The Council is a non-statutory body established in March 1998. It brings together

a range of financial market participants to provide advice to the Government on policies

to facilitate the growth of a strong and competitive financial sector. Members are

appointed for two years in a personal capacity subject to their continued direct

involvement in the financial sector.

Since these members were first appointed in 1998, they have each made a valuable

contribution, bringing to the Council a wealth of knowledge and experience of the

financial sector and its operations. I look forward to their ongoing contribution to the

Council and its role in continuing the development of effective policies for the

Australian financial system.

With these re-appointments, the full membership of FSAC will be:

• Mr Maurice Newman, Chairman of Deutsche Bank and the ASX (Chairman);
• Mr Paul Batchelor, Managing Director and Chief Executive Officer, AMP Limited;
• Mr Terry Budge, Managing Director, Bank of Western Australia Ltd;
• Mrs Patricia Cross, Director, Suncorp-Metway Ltd;
• Mr Les Hosking, Chief Executive Officer, Australian Centre for Global Finance;
• Mr Ian Macfarlane, Governor, Reserve Bank of Australia;
• Mr David Murray, Managing Director, Commonwealth Bank of Australia;
• Mr Richard Sheppard, Deputy Managing Director, Macquarie Bank Limited; and
• Mr John Trowbridge, Executive Chairman, Trowbridge Consulting Pty Ltd.

CANBERRA

8 March 2000