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Commonwealth Bank announcement

26 October 2007

The CEO of the Commonwealth Bank, Mr Ralph Norris, today announced that its General Counsel, John O’Sullivan was leaving the Bank after accepting the role of Chairman, Australian Investment Banking, Credit Suisse. Mr O’Sullivan, who has been in the role for over 4 years, will finish with the Bank at the end of January 2008.

Mr Norris thanked Mr O’Sullivan for his significant contribution to the Bank and, in particular, since Mr Norris took up as CEO in September 2005. Mr Norris said that he was an outstanding General Counsel for the Bank since he commenced in mid 2003.

Mr Norris said that the Bank had commenced a search for a replacement for Mr O’Sullivan and expects to make an announcement on his successor before he leaves in three months time.

ENDS

Media contacts:

Bryan Fitzgerald
General Manager, Media
(02) 9378 2663

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