NO.068

APPOINTMENTS TO THE BOARD OF THE AUSTRALIAN REINSURANCE POOL CORPORATION

I am pleased to announce the reappointment of Mr Joseph Gersh, AM, Mr Andrew Lumsden and Mrs Marian Micalizzi to the Australian Reinsurance Pool Corporation (ARPC) for a further three years.

The ARPC was established by the Terrorism Insurance Act 2003 to administer the Australian Government’s terrorism insurance scheme. Through the ARPC, insurers are able to reinsure any liability for losses arising from declared terrorist incidents under the scheme.

Mr Gersh has been reappointed as the part-time Chairman of the ARPC. Mr Gersh has extensive experience in law and commerce, and is the Managing Director of Gersh Investment Partners Limited. Mr Gersh currently holds a range of senior appointments, including membership of the Reserve Bank of Australia’s Payments System Board.

Mr Lumsden has been reappointed as a part-time member of the ARPC. Mr Lumsden is a partner of Corrs Chambers Westgarth, and specialises in corporate and securities law and mergers and acquisitions. Mr Lumsden holds a number of senior appointments, and is an acknowledged expert in the field of corporate governance.

Mrs Micalizzi has been reappointed as a part-time member of the ARPC. Mrs Micalizzi is a former partner of PricewaterhouseCoopers and a chartered accountant with over twenty years experience. Mrs Micalizzi currently holds a number of senior appointments, including to the Takeovers Panel.

The reappointment of these members allows the ARPC to retain the high level of diligence, skill and private sector experience that it requires to administer this important scheme.

CANBERRA

30 June 2006

Contact: Renae Stoikos

03 9650 0244