Australian Treasury Press Release

PRESS RELEASE - Re-appointment of Mr Hugh Morgan to the Board of the Reserve Bank of Australia, 24 July.

I am pleased to announce the re-appointment of Mr Hugh Morgan to the Board of the Reserve Bank of Australia for a term of five years, beginning on 29 July 2002.

Mr Morgan is Managing Director and Chief Executive Officer of WMC Limited and a Director of Alcoa of Australia and the Business Council of Australia. He is also a member of a number of industry bodies and organisations, both domestic