1. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s New Horizons Managing Growth Stephen Coulter General Manager Global eCommerce Commonwealth Bank of Australia June 19, 2001

2. Make it happen www.commbank.com.au The material that follows is a presentation of general background information about the Bank’s activities current at the date of the presentation, 19 June 2001. It is information given in summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate. Disclaimer i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s

3. Make it happen www.commbank.com.au Group Strategy Business Goals To be the best brands in helping customers manage and build wealth Develop offshore opportunities Global best-practice costs Best Team Attract more customers & more revenue per customer Best value service through innovation & on-line leadership Strategic VisionFinancial Goal Top Quartile TSR Top Quartile TSR Growth with low inflation inflation Major technology shift WHY? Pace of change Limited longer term domestic scope Margin squeeze

4. Make it happen www.commbank.com.au Index of Top Consistent Performers 100.0 99.3 98.7 97.0 96.8 96.6 95.9 95.6 95.5 95.4 95.3 95.2 94.9 94.6 94.4 94.3 93.8 92.7 Ideal Firm Aegon CBA Mediolanum Northern Trust Capital One Charles Schwab BBVA Providian Finl. Bank of New York AIG Power Finl. Swiss Re American Express Skandia Mellon Great West Lifeco Robeco Group Fortis Source : Oliver, Wyman & Company Report Number 3 Volume 11 March 2001 SPI through December 2000. i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s

5. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Flashback Analysts Presentation – May 27, 1999 Analyst Presentation, May 27, 1999

6. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Flashback Analysts Presentation – May 27, 1999 Analyst Presentation, May 27, 1999

7. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Flashback Analysts Presentation – May 27, 1999 Analyst Presentation, May 27, 1999

8. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Commonwealth Group Home Page

9. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Strategic battles around relationships have been successful…. MeasureJun 99Jun 00Jun 01 est NetBank89,400325,000900,000 Quickline23,60036,00050,000 MobileBank-6,50017,000 Diammond/ eCommCorporate6,1007,300 8,000 ASB/BankDirect18,00058,000100,000 Banking137,100432,8001,075,000 ComSec Online60,000155,000225,000 HomePath-36,000100,000 Total Online Customers197,100623,8001,400,000

10. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s As have our alliances... Alliances Market Access Technology/Skills Access Scale Economics Risk Sharing Australia Post Woolworths Ezy Banking ninemsn EDS Telecom NZ Vodafone KeyCorp CommerceNet Knowledge Lab Cyberlynx EDS Telecom NZ ninemsn Cyberlynx EDS TelecomNZ Vodafone SupplySearch KeyCorp Cyberlynx

11. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Customers are moving transactions and business activities online Transactions –December 2000 profit announcememt we advised 84% of transactions are now electronic versus 16% over the counter –Over 1,800 online merchants –Over $10 billion in payments through NetBank –80% of Commsec trades occur online –Total transactions of 34 million online in April 2001 4m in 98, 8.5m in 99 and 18.5m in 2000 Sales –Over 4,000 credit and 10,000 deposit account applications per month online Inquiries –Over 17 million service enquiries per month via NetBank

12. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Commonwealth Group is applying web technologies to its own business Finance and Human Resources with PeopleSoft IP enablement of all premises –Target of end July for all branches to be cabled eProcurement with Cyberlynx Growing intranet applications and information –Over 2 million activities per week Online Shareholder and Media Centres

13. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Intranet Development & Usage is Improving

14. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Shareholder Centre for Investors

15. Make it happen www.commbank.com.au Cyberlynx has been successfully implemented i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s

16. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Looking Forward……….

17. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Commonwealth’s Online Vision Retain and attract commercially astute, eCommerce aware people Customer focussed information Network and device independent Anything, Anywhere, Anytime Decision support, Information, Education and Advice Web enable our enterprise Requirements “ In chosen markets, to be the leading global provider of online information services related to financial services in a profitable manner.”

18. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s There is no “new economy” There is one economy There are old and new ways of doing business Old truths still prevail –Customers –Products and Distribution –Returns to owners –Employees – retain and attract –Community – support and earn respect

19. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s The only sustainable competitive advantages will be customer service and trust Products are commoditising Price differences will narrow Low costs will be a hygiene factor

20. Make it happen www.commbank.com.au Customer Performance Model Customer Acquisition Customer Retention Customer Share of Wallet Customer Value i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s

21. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s NetBank customers are valuable Product Penetration Balance vs Average Customer Online CustomersAverage Customer Credit Cards31%76%130% Loans14%46%178% Deposits81%98%100% Online Customers also make significant use of the Internet for product origination, enquiries and transactions. These are the tip of an online-influenced iceberg –Cross Channel referrals and service are vital –Monitor sales rates by origination point –Monitor quality of business by origination point

22. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Better customer service leading to revenue growth Lower internal delivery cost Quicker time-to-market Lower distribution costs Organisations are now realising the power and value delivered from end-to-end web enablement

23. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Trust as a competitive advantage Identification Authentication Security Privacy Integrity (Data & Message) Fairness & Honesty Experience Stability Trust based services will grow……..

24. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Account Aggregation Bring My Information Together at One Web Site with one user name and password. SiteUser NamePassword Commonwealth Bankabcdef123456 ComSecghijk789012 NAB6578hkjf87-82roi eTrade;lq3i33oppof8 Westpacoffewupoi3287j Hotmailiuywhvkj9387 Ozemailklewkk098j98 Qantasfefewif997ug4 Wall Street Journalioewf237809 GolfWebiufulvjvj08070 F2jiogkjv8787r0 Financial Timeslkjeslkjg98732070 Individual Inciohefhff8747r709 etc

25. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Commonwealth Bank Example

26. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Commonwealth Bank Example

27. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Aggregation Issues Trust Banking Terms & Conditions Customer Consent/Authority Process Privacy & Security Fraud Mitigation Liability Advice

28. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s Summary eCommerce and eBusiness are significant business tools – not strategies in themselves Successful businesses need to integrate these tools as part of their overall business strategy Leading incumbent players have significant advantages and opportunities –Customer base –Brand –Multi channel distribution Customer Service & Trust will be critical for future success Commonwealth Group has and will continue to be trusted and successful in applying eCommerce tools to its business strategy, benefiting –Customers –Employees; and –Shareholders

29. Make it happen www.commbank.com.au i n s t i t u t i o n a l b a n k i n g c o m m o n w e a l t h b a n k e - c o m m e r c e s o l u t i o n s