Fed: Text of a statement issued by Bob Mansfield

AAP General News (Australia)
04-14-2004
Fed: Text of a statement issued by Bob Mansfield

A PERSONAL STATEMENT BY BOB MANSFIELD

April 14, 2004



"Today I announced my resignation as Chairman and as a Director of Telstra.

My resignation is effective today.

I joined the Board in November 1999 and became Chairman in January 2000.

It has been an honour to serve as Chairman of this great Australian company.

However, it has become evident to me recently that the bond of trust necessary for
the Board to operate effectively has been ruptured. As Chairman, I cannot be accountable
for the actions of individual Directors, but I do accept that the Board cannot operate
as it does now and that the Chairman, in those circumstances, bears responsibility.

It is with regret that I have resigned but the accountability factor is clearly on
me as Chairman and I accept that.

I have appreciated the support of the Deputy Chairman, John Ralph, during my Chairmanship
and am grateful for his willingness to step in as interim Chairman and lead the search
for a new Chairman, in conjunction with the Board.

Hopefully the appointment of a new Chairman in the near future can address the issues
that have been affecting the Company and allow it to achieve the desired progress that
is so important to all its stakeholders.

I wish the Company every possible success in the future."



AAP mo/jlw

KEYWORD: TELSTRA MANSFIELD TEXT

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