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Commonwealth Bank of Australia

Media Release

COMMONWEALTH BANK/COLONIAL LIMITED CONVERSION COMPLETED

Sydney, 7 June 2001: The Commonwealth Bank today advised that the conversion and transfer of 1.3 million Colonial retail accounts to Commonwealth Bank accounts and systems has been completed. All retail banking customers of the combined Group now hold Commonwealth Bank accounts.

'The product and system conversion represents an important milestone in the integration of the Group's retail businesses,' said Mr John Mulcahy, Head of Australian Financial Services.

For further information, please contact:

Bryan Fitzgerald
Group Corporate Relations
Telephone (61 2) 9378 2663


Source: Commonwealth Bank of Australia
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