NO.001

Nomination of Australian Director to the Asian Development

Bank, Manila

The Acting Treasurer, Senator the Hon. Amanda Vanstone, today

announced the Government will nominate Mr Steve Sedgwick for the position of

Director of the Asian Development Bank (ADB) in Manila.

Mr Sedgwick will be responsible for representing a constituency

of countries within the ADB, the members of which are: Australia; Azerbaijan;

Cambodia; Hong Kong, China; Kiribati; the Federated States of Micronesia; Nauru;

the Solomon Islands; and Tuvalu.

Following the formal election process, it is expected that Mr

Sedgwick will take up the position from 1 April 2002 for a three year period,

replacing Mr John Lockhart, AO, who has served in the position since July 1999.

Mr Sedgwick’s main duties will be to examine and provide advice

on the wide range of policy issues considered by the ADB Board of Directors,

including ADB loan and budgetary proposals.

The Government considers that with his background and extensive

experience, Mr Sedgwick will make a valuable contribution at the ADB as Director.

In addition to his previous position as Secretary of the Department of Education,

Science and Training, Mr Sedgwick has had a wide range of experience within

the Australian Public Service, including as Secretary of the Department of Finance

and in senior positions with the Department of the Prime Minister and Cabinet.

Australia has been a member of the ADB since it was established

in 1966 to assist the economic and social development of countries of the Asia

and Pacific region. Australia remains one of the most significant shareholders

in the Bank and attaches considerable importance to its work within the region.

CANBERRA ACT

18 January 2002