Another global MBS transaction for Commonwealth Bank

30 August 2001


The Commonwealth Bank filed a preliminary prospectus 25 August with the US Securities and Exchange Commission (the "SEC") for its second global transaction through Medallion Trust; its mortgage backed securities programme.The underlying loans are sourced from Commonwealth Bank Group's home loan portfolio.

The issue is structured to include three tranches of pass-through mortgage backed floating rate notes. USD1.1 billion of Class A-1 notes to be issued into the US and Europe; AUD400 million Class A-2 notes and AUD27 million of Class B subordinated notes. The AUD denominated tranches will be sold solely into the Australian market. The Class A-1 notes will be registered with the SEC and London Stock Exchange.

This deal follows the successful issue of the previous transaction into the global and domestic market in March 2000. This reflected investors recognition of the brand, the underlying high quality mortgages and the Group's servicing standards. The Group is currently marketing the transaction in the global and domestic markets.