Commonwealth Bank announcement

2 February 2007

The CEO of the Commonwealth Bank, Ralph Norris today announced that its Group Executive Strategic Development, Mr Hugh Harley was leaving the Bank to pursue other interests.

Mr Norris said, "I am disappointed to see Hugh leave the Bank, but I respect his decision to pursue other interests. He has made a tremendous contribution to the Bank, particularly in his roles as Group Executive Retail Banking Services and more recently Group Executive Group Strategic Development. I especially appreciate the support he has given me as CEO".

Hugh will remain with the Bank until 30 March 2007 in order to complete the Bank’s annual strategic planning cycle.

Mr Norris said an announcement in relation to Group Strategic Development will be made in due course.

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For more information, contact:

Bryan Fitzgerald
General Manager, Media and Issues Management
Phone: (02) 9378 2663