NO.137

JOINT PRESS RELEASE

TREASURER &

MINISTER FOR FINANCE AND ADMINISTRATION

MR JOHN PATERSON APPOINTED AS A MEMBER OF THE FUTURE FUND BOARD OF GUARDIANS

The Government is pleased to announce its decision to appoint Mr John Paterson as a member of the Future Fund Board of Guardians.

Mr Paterson’s appointment fills a vacancy on the Board that arose following the resignation of Mr Robert Elstone, subsequent to his appointment as Managing Director and CEO of the merged Australian Stock Exchange and Sydney Futures Exchange organisations in July 2006.

Mr Paterson has been appointed for a period of three years and will formally commence his appointment on 18 December 2006.

Mr Paterson has over 30 years of financial services experience at Goldman Sachs JBWere, where he worked until 2003. During this time, Mr Paterson filled various roles including: Vice Chairman, Goldman Sachs JBWere; Managing Director, Corporate Finance; Managing Director, Were Stockbroking Ltd; and Managing Director, Institutional Stockbroking.

Mr Paterson is currently a Director of the Australian Foundation Investment Company and Djerriwarrh Limited. He is also a Member of the External Advisory Board to the Salvation Army (Southern Region).

We consider that Mr Paterson is well credentialed for appointment to the Board and that his skills and experience will complement those of existing Board members.

MELBOURNE

15 December 2006

Contact: Renae Stoikos – Treasurer’s Office – 03 9650 0244

Simon Troeth – Finance Minister’s Office – 02 6277 7400