FIRST AU LIMITED — Regulatory Filings 2006

PUBLIC HOLDINGS (AUSTRALIA) LIMITED

A.C.N. 000 332 918

6 June 2006

Dear Shareholder.

PUBLIC HOLDINGS (AUSTRALIA) LIMITED (the "Company") RESCHEDULE OF THE ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the 46th Annual General Meeting of shareholders of the Company has been rescheduled and will be held at 7th Floor, 114 William Street, Melbourne on 7 July 2006 at 12 Noon.

The Annual General Meeting has been rescheduled to give shareholders the required notice of the general meeting.

Enclosed is the Company's revised notice of meeting and proxy.

Yours faithfully. For and on behalf of Public Holdings (Australia) Limited

l Conthe

Stuart Coulthard Company Secretary

Level 7, 114 William Street, Melbourne Vic. 3000 Australia. Telephone 9274 0600 Facsimile 9274 0660