Perpetual Limited — M&A Activity 2007

ASX ANNOUNCEMENT

Perpetual Limited (Perpetual)

Perpetual to acquire the mortgage processing assets of National Lending Solutions (NLS)

Perpetual has signed an asset sale deed to acquire the mortgage processing assets of NLS, a wholly owned subsidiary of the listed public company, InfoChoice Limited.

The proposed acquisition by Perpetual is conditional on the approval of InfoChoice's shareholders at an Extraordinary General Meeting, to be held in late August 2007.

NLS is a provider of national mortgage processing services, based in Parramatta, employing approximately 80 staff.

The proposed acquisition is consistent with Perpetual's strategy, most recently outlined in the Chairman's '2007 Letter to shareholders' released in May.

The impact of the proposed acquisition on Perpetual's short-term results is not expected to be material.

Susan Morey Head of Corporate Affairs and Investor Relations Phone: 02 9229 3936 Mobile: 0409 746 385

6 July 2007