DRP Share Issue and Underwriting

Monday, 24/11/2008

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.