Media releases

September 21, 2007

Medibank welcomes incoming board members

Medibank Private welcomed the Australian Government's announcement today naming Mr Phillip Twyman and Ms Jane Harvey as its two newest board members.

Phillip Twyman is currently a director of Perpetual Limited and a former Group Executive Director of Aviva plc, one of the world's largest insurance groups based in London. He brings with him extensive experience in financial services, investment and wealth management, together with considerable practical experience in risk management issues faced by public companies.

Jane Harvey has extensive experience across the financial services, health care and public company sectors. She is currently a director of IOOF Holdings Limited and a former partner with PricewaterhouseCoopers. She also serves as a director with a number of Victorian Government entities including the Rural Finance Corporation, Bayside Health Services and the Legal Services Board, and chairs the Royal Flying Doctor Service (Vic).

The incoming directors will be joining Medibank Private at a time of rapidly growing membership. Last week the fund delivered a record profit of $295.2 million for the year to June 2007.

Chairman Paul McClintock thanked the retiring board members Mr Roger Harley and Mr Brian Keane, praising the endeavor and commitment shown during their three years service on the board.

"Roger and Brian have been with Medibank Private during a key time in its history, culminating in our excellent results announced last week of an increased membership of 150,000 and improved marketshare.

Managing Director George Savvides joined Mr McClintock in praising Mr Harley and Mr Keane.

"The guidance and assistance of the board has been an important part of our efforts to turn the fund around and achieve the excellent results we have seen over the last three years, and Roger and Brian were integral to that," he said.


For further information please contact:
James Connors - T. (03) 8622 5163 or 0433 992 677

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