Purchase of Own Securities

RNS Number:3898Q
National Australia Bank Ld
01 October 2003

                                                                       Rule 3.8A


                                      Appendix 3C


                            Announcement of buy-back
                       (except minimum holding buy-back)


Information and documents given to ASX become ASX's property and may be made
public.


        Introduced 1/9/99. Origin: Appendix 7B. Amended 13/3/2000, 30/9/2001.




Name of entity                                                                  ABN


 NATIONAL AUSTRALIA BANK LIMITED                                              12 004 044 537



        We (the entity) give ASX the following information.




Information about buy-back

1      Type of buy-back
                                                      ON-MARKET


2      +Class of shares which is the subject
       of the buy-back (eg, ordinary/                 ORDINARY
       preference)


3      Voting rights (eg, one for one)
                                                      ONE FOR ONE


4      Fully paid/partly paid (and if partly
       paid, details of how much has been             FULLY PAID
       paid and how much is outstanding)


5      Number of shares in the +class on
       issue                                          1,503,955,770

                                                      


6      Whether shareholder approval is
       required for buy-back                          No


7      Reason for buy-back                    To buy back shares to manage the capital requirements of
                                              the entity.






8      Any other information material to a
       shareholder's decision whether to              NIL
       accept the offer (eg, details of any
       proposed takeover bid)









On-market buy-back

9      Name of broker who will act on the      Goldman Sachs J B Were and Salomon Smith Barney Citigroup
       company's behalf


10     Deleted 30/9/2001.


11     If the company intends to buy back a    The Company's current intention is to continue to seek to buy
       maximum number of shares - that number  back a number of ordinary shares approximating the number of
                                               ordinary shares issued under the Company's dividend package
       Note: This requires a figure to be      plans and staff share and option plans. Based on the number of
       included, not a percentage.             shares previously issued under these plans, the number of
                                               shares to be bought back is likely to be approximately 25.5
                                               million shares.

12     If the company intends to buy back
       shares within a period of time - that           In the period from 1 October 2003 to 30
       period of time; if the company intends
       that the buy-back be of unlimited               September 2004
       duration - that intention


13     If the company intends to buy back
       shares if conditions are met - those            Not applicable
       conditions









Employee share scheme buy-back

14     Number of shares proposed to be bought
       back                                            Not applicable


15     Price to be offered for shares
                                                       Not applicable





Selective buy-back

16     Name of person or description of class
       of person whose shares are proposed to          Not applicable
       be bought back


17     Number of shares proposed to be bought
       back                                            Not applicable


18     Price to be offered for shares
                                                       Not applicable



Equal access scheme

19     Percentage of shares proposed to be
       bought back                                     Not applicable


20     Total number of shares proposed to be
       bought back if all offers are accepted          Not applicable


21     Price to be offered for shares
                                                       Not applicable


22     +Record date for participation in offer
                                                       Not applicable
       Cross reference: Appendix 7A, clause 9.



Compliance statement


        1.     The company is in compliance with all Corporations Act
        requirements relevant to this buy-back.


        2.     There is no information that the listing rules require to be
        disclosed that has not already been disclosed, or is not contained in,
        or attached to, this form.




        Sign here: ........................     Date:      1 October 2003

        Print name:      BT  Case..............................................

                         Associate Company Secretary

                                     == == == == ==




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