NO.014

I am pleased to announce the appointment of Mr Donald McGauchie as a member of the

Board of the Reserve Bank of Australia for a term of five years, beginning from

30 March 2001.

Mr McGauchie is a former President of the National Farmers’ Federation, and is

presently Chairman of Telstra Country Wide Advisory Board and Woolstock Australia. He is

also Deputy Chairman of Austalian Wool Testing Authority and Director of Telstra

Corporation, Ridley Corporation, Grain Corporation, National Foods, and Australian Centre

for International Agricultural Research.

I believe that with his background and wide experience in rural matters, Mr McGauchie

will make a valuable contribution to the Reserve Bank Board.

The Board appointment is made in accordance with section 14 of the Reserve Bank Act

1957 which provides for nine Board members including the Governor, the Deputy

Governor, the Secretary to the Department of the Treasury, and six other members appointed

in writing by the Governor-General.

With this appointment, the membership of the Board consists of:

• Mr IJ Macfarlane, Chairman
• Dr SA Grenville
• Mr EA Evans AC
• Ms JR Broadbent
• Mr FP Lowy AO
• Mr DG McGauchie
• Mr HM Morgan AO
• Mr RFE Warburton

CANBERRA

22 March 2001