Perpetual Limited — Board/Management Information 2007

ASX Release

24 September 2007

Perpetual Limited (Perpetual)

Retirement of Ms Sandra McPhee: Annual General Meeting 30 October 2007

Ms Sandra McPhee will not seek re-election to the board of directors at Perpetual’s Annual General Meeting on 30 October 2007 and will retire from the Perpetual board at the conclusion of the Annual General Meeting.

Ms McPhee will not stand for re-election as a non-executive director in order to avoid any potential conflict of interest between the mortgage services business of Perpetual Corporate Trust and AMAL Asset Management Limited (AMAL), which is part owned by her husband and in which she holds a beneficial interest.

Ms McPhee has served on the board of Perpetual since April 2004. She is also Chairman of Perpetual’s People and Remuneration Committee and a member of Perpetual’s Nominations Committee.

The Chairman of Perpetual, Mr Bob Savage, thanked Ms McPhee for her significant contribution to Perpetual during her time on the board.

Sue Morey Head of Corporate Affairs and Investor Relations Perpetual Limited Telephone: 02 9229 3936 Mobile: 0409 746 385