Form 604 Corporations Law Section 671B Notice of change of interests of substantial holder FXJ To:Company Name/Scheme The Secretary John Fairfax Holdings Limited Level 19 201 Sussex Street SYDNEY NSW 2000 Ph: (02) 9282 3046 Fax: (02) 9282 3065 ACN 008 663 161 ACN/ARSN 1. Details of substantial National Australia Bank Limited Group (ACN 004 044 937) being comprised of the bodies holder corporate listed in Annexure A and which includes: Name National Australia Trustees Limited ACN 007 350 405 (0.029%) ACN (if applicable) MLC Limited ACN 000 000 402 (0.046%) MLC Investments Limited ACN 002 641 661 (5.955%) National Australia Asset Management Limited ACN 062 806 884 (0.013%); National Australia Financial Management Limited ACN 000 176 116 (0.125%) gives notice of a change in relevant interests There was a change in the interests of the substantial holder on 23/06/2006 The previous notice was given to the company on 21/04/2004 The previous notice was dated 21/04/2004 2. Previous and present The total number of votes attached to all voting shares in the company or voting interests in voting power: the scheme that the substantial holder or an associate had a relevant interest in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows: Class of securities Previous Notice Present Notice Person’s votes Voting power Person’s votes Voting power Ordinary 45,815,082 5.124% 57,915,868 6.167% 3. Changes in relevant interests Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows: Date of change Person whose Nature of change Consideration Class and Person’s votes relevant interest given in relation number of affected changed to change securities affected 21/04/2004 to MLC Limited Share purchase $4.38 Ordinary 23/06/2006 59,320 59,320 21/04/2004 to MLC Investments Share purchase $3.31 to $4.60 Ordinary 23/06/2006 Limited 19,807,897 19,807,897 Share sale $3.20 to $4.60 Ordinary 7,576,960 7,576,960 21/04/2004 to National Asset Share purchase $3.71 to $4.25 Ordinary 23/06/2006 Management Limited 13,000 13,000 21/04/2004 to Share sale $3.66 to $4.41 Ordinary 23/06/2006 48,931 48,931 21/04/2004 to National Australia Share purchase $3.71 to $4.44 Ordinary 23/06/2006 Financial 259,526 259,526 Management Limited Share sale $3.70 Ordinary 25,000 25,000 21/04/2004 to National Australia Share purchase $3.88 Ordinary 23/06/2006 Trustees Limited 61,619 61,619 Share sale $4.02 Ordinary 190,068 190,068 4. Present relevant interests Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows: Holder of relevant Registered holder Person entitled to Nature of relevant Class and Person’s interest of securities be registered as interest number of votes holder securities MLC Limited Westpac Custodian Power to control voting Ordinary Nominees Limited and/or disposal of 429,242 429,242 (ACN 002 861 565) shares MLC Investments Westpac Custodian Power to control voting Ordinary Limited Nominees Limited and/or disposal of 55,776,053 55,776,053 shares RBC Global Power to control voting Ordinary Services Australia and/or disposal of 125,185 125,185 Nominees Pty shares Limited (MasterKey Custom Superannuation Fund A/C) (ACN 097 125 123) RBC Global Power to control voting Ordinary Services Australia and/or disposal of 14,266 14,266 Nominees Pty shares Limited (HML Superannuation Fund) National Australia National Nominees Power to control voting Ordinary Asset Management Limited and/or disposal of 122,415 122,415 Limited (ACN 004 278 899) shares National Australia National Nominees Power to control voting Ordinary Financial Management Limited and/or disposal of 1,178,088 1,178,088 Limited (ACN 004 278 899) shares National Australia Unknown Power to control voting Ordinary Trustees Limited and/or disposal of 270,619 270,619 shares Grand Total 57,915,868 5. Changes in association The persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantial holder in relation to voting interests in the company or scheme are as follows: Name and ACN/ARSN (if applicable) Nature of Association No change 6. Addresses The addresses of persons named in this form are as follows: Name Address MLC Limited Ground Floor 105-153 Miller Street NORTH SYDNEY NSW 2060 MLC Investments Limited Ground Floor 105-153 Miller Street NORTH SYDNEY NSW 2060 National Australia Bank Level 13 Limited 140 William Street MELBOURNE VIC 3000 National Australia Trustees Level 13 Limited 140 William Street MELBOURNE VIC 3000 National Australia Asset Ground Floor Management Limited 105-153 Miller Street SYDNEY NSW 2000 National Australia Financial Ground Floor Management Limited 105-153 Miller Street SYDNEY NSW 2000 RBC Global Services Level 18 Australia Nominees Pty 56 Pitt Street Limited SYDNEY NSW 2000 National Nominees Limited Level 13 140 William Street MELBOURNE VIC 3000 Westpac Custodian Level 9 Nominees Limited 50 Pitt Street SYDNEY NSW 2000 Signature name Brendan T Case Capacity Associate Company Secretary for and on behalf of National Australia Bank Limited signature date / / Annexure A This is Annexure A of three pages referred to in the Form 604 Notice of change of interests of substantial holder signed by me and dated / / Brendan T Case Associate Company Secretary National Australia Bank Limited Group National Capital Holdings 1 LLC National Equities Limited ACN 094 484 625 Ltd National Australia Management Services Ltd. (In Liquidation) National Australia Group (NZ) Limited MLC Asia Ltd BNZ International Australia Limited MLC Corporate Services Asia Pte Limited BNZ Securities Australia Limited PT MLC Investment (Indonesia) Ltd Partown Pty Limited National Corporate Investment Services Limited MLC Funds Management Limited (In Liquidation) Bank of New Zealand Limited GWM Adviser Services Limited BNZ Corporation Limited Godfrey Pembroke Limited Interchange and Settlement Limited (12.6%) National Asset Management Limited Quill Financing Limited (76%) (In liquidation) NAM NT Rail Pty Limited Peterel Financing Limited (99%) (In liquidation) National Australia Financial Planning Pty Limited (In Liquidation) BNZ Capital Guaranteed Growth Fund Limited National Australia Superannuation Pty. Ltd. Loyalty New Zealand Limited (25%) NAFM Investments Pty. Ltd. (In Liquidation) Mondex New Zealand Limited (20%) JANA Investment Advisers Pty Limited Visa New Zealand Limited (23%) Superannuation for Australian Corporate Employees Pty Ltd (In Liquidation) BNZ Funding Limited Wealth Management & Community Fund Pty Ltd (Not yet established) BNZ International (Hong Kong) Limited MLC Holdings Limited BNZ Investments Limited Your Prosperity Limited BNZ Equipment Limited MLC Investments Limited BNZ International Limited MLC Computer Pty Limited (in Liquidation) BNZ International Funding Limited Apogee Financial Planning Limited Amber Liquid Investments Limited Australian Eagle Life Ltd (In Liquidation) BNZI Securities (No 1) Limited BNZI Securities (No 2) Limited MLC Limited BNZ Property Investments Limited ThreeSixty Limited (In Liquidation) BNZ Branch Properties Limited Heritage Management Limited (In Liquidation) BNZ Properties (Auckland) Limited Plum Financial Services Limited BNZ Properties Limited PLUMFS Limited (In Liquidation) Flamingo Holdings Incorporated (In liquidation) PFS Nominees Pty Ltd Maroro Leasing Limited (In liquidation) FlexiPlan Australia Limited (In Liquidation) New Zealand Card Services Limited Medfin Australia Pty Limited Screen Holdings No. 3 Limited MLC Properties Pty Limited Screen Holdings No. 4 Limited MLC Nominees Pty Ltd Screen Holdings No. 5 Limited (In liquidation) Messenia Pty Limited (In Liquidation) Screen Holdings No. 6 Limited (In liquidation) Fortuitous Assets Ltd Sophisticated Assets Ltd Custom Fleet (NZ) Limited Eight Star Group Ltd BNZ Fleet Limited Stable Markets Holdings Ltd Custom Service Leasing (New Zealand) Limited HKMLC Insurance Holdings Ltd (55%) Custom Fleet Leasing (NZ) Ltd MLC (Hong Kong) Ltd Fleetlease (New Zealand) Limited MLC Trustees (Hong Kong) Ltd National Australia Limited (In liquidation) SMMR (Thailand) Co. Ltd (49%) Electronic Transaction Services Ltd (25%) Tun Charoen Ltd (51%) PT MLC Life Indonesia (50%) National Americas Investment, Inc. MSRA Holdings, Inc. MLC Lifetime Company Limited National Americas Capital Investment LLC CFG Nominees Pty Ltd (In liquidation) Capita Properties Pty Ltd National Australia Capital Markets, LLC Tropical Breeze, Inc (In liquidation) National Australia Capital Markets (Japan) Co Ltd Cameron Close Pty Ltd (In Liquidation) National Australia Bank Capital LLC National Wealth Management Holdings Limited National Australia Financial Management Limited National Australia Funding, (Delaware) Inc. National Wealth Management International Holdings Limited National Wealth Management Europe Holdings Limited National Mortgage Securities Inc National Europe Holdings (Wealth Management) Limited National Wealth Management Europe Services Limited NAB Gold LLC National Australia Insurance Services Limited MLC Savings Limited NAB Iron LLC MLC Trust Management Company Limited Clydesdale Bank Insurance Brokers Limited Clydesdale Bank (Head Office) Nominees Ltd Northern Bank Insurance Services Ltd. Clydesdale Bank (London)