Media releases

September 30, 2005

Acting CFO appointed

Medibank Private has appointed Michael Sammells as Acting Chief Financial Officer to replace Cecil Piccinino, who gave notice of his resignation in August and will leave Medibank Private at the end of October.

George Savvides, Managing Director said, "Cecil has been a key member of the Medibank Private senior executive team that delivered the dramatic turn-around of our business performance over the past few years."

Cecil Piccinino played a leading role in the transformation of Medibank Private through a significant turn-around, culminating in yesterday's record FY05 $131 million profit announcement. In that time, he has also lifted the standards of reporting compliance to those required by top 100 ASX companies.

Michael Sammells will be Acting CFO from the 3 October.

Michael Sammells joined Medibank Private in August 2003 and has most recently headed our successful hospital contracting team. Prior to joining Medibank Private, Michael was the CFO and Director of Finance and Corporate Services at Southern Health, Victoria's largest public health network. He has also held senior finance and operational roles at Mayne Group.

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For further information contact: Libby Woolnough on 03 8622 5181


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