The Commonwealth of Australia is selling 100% of the securities in  Medibank Private Limited (MPL) by Initial Public Offer (IPO) of securities on the ASX. 2,754 million securities will be offered representing $4,269-$5,508m based on the lower and upper values of the indicative price range.   Indicative Price Range – A$1.55-2.00 per share Joint Lead Managers – Deutsche Bank AG Sydney Branch, Goldman Sachs Australia Pty Ltd and Macquarie Capital (Australia) Ltd. Co-Lead Managers- Bell Potter Securities Limited, Commonwealth Bank of Australia, Morgans Financial Limited, UBS Wealth Management Australia Limited. Co-Managers – Evans and Partners Pty Ltd, Ord Minnett Limited   Medibank is Australia’s largest private health insurer.   Retail offer 28 October- 14 November 2014 AEST Book build closes and Broker Sponsored Bids due 20 November 2014 12 Noon Listing 25 November 2014

For further information, please see the prospectus atwww.medibankprivateshareoffer.com.au