Colonial First State Hybrid Securities Offer

22 April 2005

The Commonwealth Bank of Australia (the Bank) and Colonial First State Issuer No. 1 Limited (the Issuer) today announced that the prospectus lodged by the Issuer with ASIC on 18 April 2005 (Prospectus) in connection with the offer of Colonial First State Hybrid Securities (Securities) has been withdrawn and no offers will be made under the Prospectus.

The Issuer, in conjunction with the Bank, has withdrawn the Prospectus in light of the volatility of global equity and credit markets. The Bank and the Issuer will reassess market conditions and may announce a further offer in due course.


Media inquiries:

Patrick Southam
Media Adviser
Group Corporate Relations
Telephone (02) 9378 5965