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Appointment of President Director Astra CMG Life in Indonesia

27 September 2002

The shareholders of Astra CMG life, Commonwealth Bank of Australia and the Astra Group ("Astra"), are pleased to announce the appointment of Mr. Geoff Coates as President Director of Astra CMG Life, effective 28 October 2002. Geoff will also be the Bank’s senior representative in Indonesia.

Mr. Coates has over 20 years of experience with the Commonwealth Bank in Australia encompassing various roles in Life Insurance, Investment and Banking over that time. He has held senior roles covering Financial Services marketing and product management, insurance and investment product distribution, particularly in respect of the Bank’s financial planning distribution channel, and latterly in respect of Customer Service Quality across the Commonwealth Bank proprietary distribution channels. He holds an MBA from the University of Technology in Sydney.

The shareholders are optimistic about the continued strong growth prospects of Astra CMG Life. The combination of Astra’s strong name and local support, together with Commonwealth Bank’s broadening Financial Services presence in Indonesia, through both Astra CMG Life and PT Bank Commonwealth, provide a sound platform upon which Astra CMG Life can expand its activities and extend its reach in the local market. Mr. Coates therefore assumes his new role ready to take up the opportunities and challenges for the next phase of growth and development of Astra CMG Life in Indonesia.

The shareholders would also like to formally express their sincere appreciation of the contribution, wise counsel and leadership provided by the outgoing President Director, Pak Iljas, who is retiring but will still assist Astra CMG Life in the area of Human Resources for a period.

The shareholders welcome Mr. Coates to his new role as President Director of Astra CMG Life and wish him every success.