Transaction in Own Shares

RNS Number:0386U
National Australia Bank Ld
08 January 2004

                                                                     Appendix 3E

                                                     Daily share buy-back notice



                                  Appendix 3E

                          Daily share buy-back notice

                      (except minimum holding buy-back and

                              selective buy-back)



Name of entity

NATIONAL AUSTRALIA BANK LIMITED          ABN12 004 044 937

We (the entity) give ASX the following information.

Information about buy-back
 1. Type of buy-back                                                            On market
*  Date Appendix 3C was given to ASX                                            1 October 2003



Total of all shares bought back, or in relation to which acceptances have been
received, before and on, previous day    
                                                        Before previous day        Previous day
 3. Number of shares bought back                        5,357,001                  50,000
*  Total consideration paid or payable for the shares   $158,409,367.53            $1,504,500.00
*  If buy back is on-market buy-back                    Highest price paid         Highest price paid

                                                        $30.19                     $30.13

                                                        Date 09/12/03
                                                        Lowest price paid          Lowest price paid

                                                        $28.70                     $30.06

                                                        Date 17/11/03              Highest price allowed
                                                                                   under rule 7.33

                                                                                   $31.1640
*  Deleted
*  How many shares may still be bought back?            Approximately 20,092,999



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



Signed by     SE CROOK               Date 09/01/2004


        Associate Company Secretary



                      This information is provided by RNS
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