Reserve Bank Board Appointment

I am pleased to announce that His Excellency the Governor-General has appointed Ms Jillian Rosemary Broadbent as a member of the Board of the Reserve Bank of Australia for a term of 5 years commencing on 7 May 1998.

Ms Broadbent is a graduate in Arts majoring in Economics and Mathematics from the University of Sydney. She has had 25 years’ experience in the finance sector in Australia and North America with the last 21 years at Bankers Trust Australia Limited.

During her time at Bankers Trust, she has been responsible for the development and management of a number of Bankers Trust’s businesses, including Foreign Exchange, Risk Management and, most recently, she has been Head of the Investment Bank’s Global Metals and Mining business.

Ms Broadbent was a director of Bankers Trust Australia from 1982 to 1994, of the Export Finance Insurance Corporation from 1984 to 1986 and Qantas Airways Limited from 1987 to 1994. Ms Broadbent was named the Qantas/Bulletin Businesswoman of the Year in 1987.

Ms Broadbent announced her resignation from Bankers Trust Australia Limited today.

Ms Broadbent will bring to the Reserve Bank Board the benefit of her very extensive financial sector experience and involvement in Australian business and the community more generally.

CANBERRA

28 April 1998