RNS Number:4869P
National Australia Bank Ld
08 September 2003


                                           Group Corporate Affairs



                                           National Australia
                                           Bank Limited
                                           ABN 12004044937


                                           500 Bourke Street
                                           Melbourne
            ASX Announcement               Victoria  3000                                                 
                                           Australia
                                                                                            

HomeSide class action



On August 29, 2003, a civil class action complaint was filed in the United
States District Court (Southern District of New York) against the National 
Australia Bank Limited and others for alleged violations of federal securities 
laws relating primarily to disclosure concerning the valuation of the mortgage 
servicing rights held by HomeSide Lending, Inc. (which we sold in October 2002).  
The complaint fails to specify any quantum of damages, but seeks unspecified 
compensatory damages.


Based on preliminary legal advice we have received in relation to the matter, we
believe that the action is without merit,should not succeed and is not likely to 
have a material adverse effect on our consolidated financial position.

We intend to defend the action vigorously.


For further information, please contact:
Brandon Phillips
Group Corporate Affairs
03 8641 3857
0419 369 058







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