Commonwealth Bank Statement

12 September 2001

The Commonwealth Bank was pleased to report today that, following overnight events in the United States, its staff in the United States are safe.

The Bank, in conjunction with the authorities, is working to ensure that its operations are maintained as normally as possible. The only exception to this is managed funds.

Due to the closure or suspension of the world’s principal financial markets, the Bank has suspended all valuations, redemptions and the processing of new applications for managed funds, including Colonial First State Funds, Colonial Funds and Commonwealth Investment Management Funds. Cash Management Trusts are operating as usual.

The situation will be kept under review and further announcements will be made as the situation progresses.