National Launches Mortgage-Backed Securities - 5 January 2001

Friday, 5 January 2001

National Australia Bank today announced an issue of up to US$1.1 billion of mortgage-backed securities through its HomeSide Mortgage Securities Trust program.

The securities will be registered in the United States and will be sold to investors both within the United States and elsewhere, mainly Europe. The securities are secured by residential mortgages originated by the National and will be assigned a AAA rating from Moody's, Standard & Poors and Fitch Inc.

This issue represents the first securitisation of Australian mortgages by the National.

The lead managers for the issue are National Australia Bank (acting through its London Branch), Deutsche Bank and JP Morgan.

For further information contact:

Julie McBeth
Group Manager Business Media Relations
Telephone: (03) 8641 3270

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

* The information contained in this media release is for media advice purposes only. The contents are true and correct at time of publishing/issuing, however may change over time. For further information about NAB products or rates, please go to Interest Rates, Fees & Charges