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NATIONAL COMMERCIAL UNION LIMITED(NCU)

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after delisting from ASX this company has changed its name twice (initially to COMMERCIAL UNION HOLDINGS AUSTRALIA LIMITED) and is now CGU INSURANCE AUSTRALIA LIMITED a public but unlisted company - it can be contacted via www.cgu.com.au

24/03/2005

delisted at entity's request

07/07/1993

we understand the issued capital of the company was reduced from $90,540,737.50 divided into 181,081,475 fully paid ordinary shares of $0.50 each to $88,860,812 divided into 177,721,624 fully paid ordinary shares of $0.50 each by cancelling and extinguishing the 3,359,851 ordinary shares of $0.50 each held by members of the company other than Commercial Union Assurance Company plc, The National Mutual Life Association of Australasia Limited and Enemelay Investments Pty. Ltd - the holders of the 359,851 cancelled ordinary shares received cash of $1.40 per share being 50 cents of paid-up capital and 90 cents from the retained profits account

07/07/1993

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