RNS Number:7150U
National Australia Bank Ld
28 January 2004


                                                                                            Group Corporate
                                                                                            Affairs

                                                                                            National Australia
                                                                                            Bank Limited
                                                                                            ABN 12004044937

                                                                                            500 Bourke Street
            ASX Announcement                                                                Melbourne
                                                                                            Victoria  3000
                                                                                            Australia

                     Melbourne, Wednesday 28th January 2004



Sale of shareholdings


The National Australia Bank confirms the following details of the sale of its
shareholdings in St George Bank, AMP Limited and HHG Plc.



                                             Number of Shares                  Gross proceeds (A$M)
                                                (millions)

St George Bank                                     39.50                               751.3

St George Bank PRYMES                              0.15                                16.1

AMP Limited                                        42.0                                189.0

HHG Plc                                            35.0                                36.8


The gross proceeds from the sale are A$993.2 million and the net profit after
tax from the sale of the shareholdings is A$322 million.


The St George PRYMES and the AMP and HHG shareholdings were sold in block trades
to Merrill Lynch.

The St George shares were sold in an overnight book-build which was fully
underwritten by Merrill Lynch.


For further information please contact:


Brandon Phillips

Group Manager

Group Corporate Relations


03 8641 3857 work

0419 369 058 mobile


or visit www.nabgroup.com

                     This information is provided by RNS
            The company news service from the London Stock Exchange
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