MINISTERIAL / DEPARTMENTAL MEDIA RELEASE - 13 MAY 2010

ADF MEMBER REPRESENTATIVE DIRECTORS NOMINATED FOR THE PROPOSED COMMONWEALTH SUPERANNUATION CORPORATION

The Chief of the Defence Force, Air Chief Marshal Angus Houston, AC, AFC, announced today that he has nominated General Peter Cosgrove, AC, MC and Mr John McCullagh as the Australian Defence Force (ADF) member representative directors on the proposed Commonwealth Superannuation Corporation. The appointment of the nominees is subject to passage of the Governance of Australian Government Superannuation Schemes Bill 2010 which is currently before Parliament.

The Governance of Australian Government Superannuation Schemes Bill 2010 establishes the Commonwealth Superannuation Corporation as a single trustee body to be responsible for most Commonwealth Government superannuation schemes. This will include the Military Superannuation and Benefits Scheme and the Defence Force Retirement and Death Benefits scheme from 1 July 2010.

General Peter Cosgrove is well known and respected within the ADF and wider community. His military career spanned 40 years, culminating in his promotion to General and appointment as the Chief of the Defence Force in 2002. Since separating from the ADF in 2005, General Cosgrove has served as a director of QANTAS Airways Limited, QANTAS Superannuation Limited, Australian Rugby Union Limited and as a fellow of the Australian Institute of Company Directors.

Mr John McCullagh has had 28 years experience in the governance of Commonwealth superannuation, and in the last seven years has focused on military superannuation with four years as the Chief Executive Officer of the Military Superannuation Benefits Scheme (MSBS). He is currently employed as an adviser to the MSBS Board to facilitate the transition to the new merged Board arrangements.

"As ADF member representatives, General Cosgrove and Mr McCullagh will bring to the new Commonwealth Superannuation Corporation board a deep understanding of the needs and expectations of ADF personnel regarding their superannuation schemes," Air Chief Marshal Houston said. "80th nominees have extensive experience and a detailed technical knowledge of the superannuation industry and, in particular, the unique features of the existing military schemes.

"General Cosgrove and Mr McCullagh have a demonstrated history of, and a reputation for, championing the best interests of ADF members and I am confident that they will continue to do so in their new roles."