HomeSide Class Action
September 08 2003 - 4:23AM
UK Regulatory
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
STREAPNPEFKDEEE