BW20030415002051  20030415T143341Z UTC


( BW)(NAT.AUSTRALIA-BANK)(NAB) FRN Variable Rate Fix  

    Business Editors
    UK REGULATORY NEWS

    LONDON--(BUSINESS WIRE)--April 15, 2003--

As Agent Bank, please be advised of the following rate determined on: 15-Apr-2003

Issue               : National Australia Bank US$250,000,000
                      Undated Subordinated FRN
ISIN Number         : GB0006241326
Issue Nomin     USD : 250,000,000.00
Period              : 17-Apr-2003 to 17-Oct-2003          Payment Date 17-Oct-2003
Number of Days      : 183
Rate                : 1.49375
Denomination    US  : 10,000.00         250,000.00

Amount Payable 
per Denomination    : 75.93             1,898.31

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 7438

   Short Name: Nat. Australia Bank
   Category Code: RC
   Sequence Number: 00003945
   Time of Receipt (offset from UTC): 20030415T152952+0100

    --30--ZW/uk*

    CONTACT: National Australia Bank Ld
 
    KEYWORD: AUSTRALIA INTERNATIONAL ASIA PACIFIC
    INDUSTRY KEYWORD: BANKING
    SOURCE: Nat.Australia Bank Ld

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