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Perpetual Limited M&A Activity 2007

Jul 4, 2007

10538_rns_2007-07-04_48d6860b-f8f3-40d5-ae16-b67a3f110589.pdf

M&A Activity

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Perpetual

ASX ANNOUNCEMENT

Perpetual Limited (Perpetual)

Southern Cross Broadcasting (Australia) Limited (SBC) Scheme of Arrangement

The Perpetual Group manages approximately 4.5 million shares (approximately 6.23%) in the capital of SBC on behalf of various funds. Of these shares, Perpetual controls votes for 6.15% of SBC.

Perpetual advises that, provided there is no material change in circumstances, its current intention is to vote in favour of the proposed scheme of arrangement for SBC.

Joanne Hawkins Company Secretary Perpetual Limited

5 July 2007