DRP share issue and underwriting

Bank of Queensland Limited will today issue 2,934,016 ordinary shares under the BOQ Dividend Reinvestment Plan (DRP) and the DRP underwriting at an issue price of $10.0882 per share, raising $29,598,940. The DRP was partially underwritten by Macquarie Capital Advisers Limited to 50% of the Final 2008 Dividend. 


The capital raised strengthens the Bank's Tier 1 Capital position and the proceeds will be used for the general business purposes of the Bank.


The Bank seeks to rely on case 1 in section 708A(5) of the Corporations Act in respect of the issue of the Underwritten Shares.


The Bank gives notice under section 708A(5)(e) of the Corporations Act to confirm that:


1. the Bank issues the Underwritten Shares without disclosure under Part 6D.2 of the Act;
2. as at the date of this notice the Bank has complied with:
the provisions of Chapter 2M of the Corporations Act as they apply to the Bank; and
(b) section 674 of the Corporations Act; and
3. as at the date of this notice there is no excluded information (as defined in subsections 708A(7) and (8)) which is required to be disclosed by the Bank.