nabCapital.com

A new investment opportunity from Futuris Corporation Limited

Futuris Corporation Limited ("Futuris") is a leading Australian diversified industrial company and a member of the S&P/ASX100 index with operations in Australia, New Zealand, Asia, the US and Europe.

Futuris manages a portfolio of businesses with a growing emphasis on rural services and primary production. The Company's three key business segments are Agribusiness, Automotive and Property.

Features of Futuris Hybrid Securities

• Quarterly distributions - distributions are expected to be calculated as the sum of the 90 day Bank Bill Swap Rate and 220 basis points
• Fully franked / grossed up distributions - distributions are non-cumulative and will be either fully-franked or grossed-up
• Ability to step-up margin - if after the first Remarketing Date in June 2011, Futuris does not seek to vary the Margin, or a Remarketing Process is not successful, the Margin can be stepped up by 250 basis points
• Open-ended structure - Futuris Hybrid Securities have no maturity date. Holders wishing to realise their Futuris Hybrid Securities can sell them on the market
• Ranking - Holders rank ahead of Futuris Ordinary Shareholders for the payment of Distributions on the Futuris Hybrid Securities

Applications open: 28 February 2006
Applications close: 31 March 2006

Minimum Investment

50 Futuris Hybrid Securities shares priced at $100 per share (or $5,000), increasing in multiples of 10 shares (or $1,000).

Eligibility

Futuris Hybrid Securities is only open to Australian residents.

How to apply

1		Call us to request a Prospectus on 1800 652 669 (toll free in Australia)
2		Download and read the specific Financial Services Guide
3		Complete the enclosed application form contained in the Prospectus. Attach your cheque made payable to 'National OnLine Trading Futuris Trust Acc' and post to: National OnLine Trading Limited Level 32, 500 Bourke Street Melbourne Vic 3000 Australia

More information

For further information about Futuris Hybrid Securities, please contact us on 1800 652 669.

Leveraging this opportunity

National Margin Lending* can help you invest in the Futuris Hybrid Securities. The Securities have been approved for use with a NML Facility at a security ratio of 65%, unless this stock comprises over 75% of the security value of your portfolio, in which case the security value is 55%.

If you currently have a NML Facility, you may be able use your existing security to invest in this offer. Alternatively, you may be able to use approved shares, managed funds or cash to establish a NML Facility and then apply to invest in the offer.

For further information about National Margin Lending contact 1300 135 145.

*National Margin Lending

A Product Disclosure Statement is available for the National Margin Lending Cash Management Account (CMA). The National is the issuer of the CMA and recommends you consider the PDS before making any decisions regarding this product. The PDS is available at national.com.au/marginlending or by calling National Margin Lending on 1300 135 145. This email is not a substitute for reading the National Margin Lending Facility Terms or the CMA PDS. The National Margin Lending Facility Terms are available from the National on request. Loan applications are subject to approval.

Please read the important information below.

The information on these web pages does not constitute an offer document. It has been prepared to enable you to apply for Futuris Hybrid Securities should you wish. National Online Trading Limited will receive a selling fee of up to 1.25% in respect of successful applications by clients paid on completion of the capital raising.

A Prospectus for the issue by Futuris Corporation Limited of hybrid securities called Futuris Hybrids (the "Securities") dated 17 February 2006 was lodged with the Australian Securities & Investments Commission (the "Prospectus"). The Prospectus contains offers for the Securities. Investors wishing to acquire Securities will need to complete the Application Form that is included in, or accompanies, the Prospectus. The Prospectus is available from the National Australia Bank Limited (ABN 12 004 044 937).

The information in this document is of a general nature only and is based on information from the Prospectus. It does not constitute a recommendation of an investment in the Issuer, any entity within the Futuris group or the Securities either generally or that it would be a suitable investment for you. In preparing this information no account was taken of the particular investment needs, objectives and financial circumstances of any particular person. Before making any investment decision in relation to the Securities you need to consider or seek advice on whether the Securities are appropriate for you in light of your particular investment needs, objectives and financial circumstances. Investors should obtain and consider the Prospectus before making any decision about whether to proceed with investing in the Securities. To the maximum extent permitted by law, National Australia Bank Limited and its related bodies corporate expressly disclaims all or any liability which may arise out of the provision to or use by the recipient or any other person of this information.

You should note that if you invest in the Securities, National OnLine Trading Limited, which has been appointed as a Co-Manager to the Offer of the Securities, will receive a selling fee of up to 1.25% (inclusive of GST) in respect of successful applications by clients paid on the completion of the capital raising. National OnLine Trading Limited is a wholly owned subsidiary of National Australia Bank Limited, but National Australia Bank Limited does not guarantee the obligations or performance of its subsidiary or the services it offers. National OnLine Trading Limited is not an Authorised Deposit-taking Institution and its obligations do not represent deposits or other liabilities of National Australia Bank Limited.

Whether this document or any copy of the Prospectus is provided to you by National Australia Bank Limited or any of its related bodies corporate, or any of their respective associates, servants, agents, employees or representatives (the "National") or any other person:

• that does not mean that the National is recommending investment in the Issuer's Securities either generally or for you; and
• Securities are not issued by the National; and
• if, following receipt of any professional advice you take, you decide to invest in the Issuer's Securities, you will be dealing solely with the Issuer and not with the National; and
• the National makes no representation concerning the Securities and is not responsible for any loss you may suffer if you decide to invest in the Securities (including any loss arising from any failure, omission or conduct of the Issuer, any Joint Lead Manager, Co-Manager or Participating Broker, or any of their respective related entities); and
• any investment in the Securities does not represent a deposit or other liability of the National. Investments can be subject to investment risk, including possible delays in repayment and loss of income and principal invested. The National does not stand behind or guarantee the capital value and/or performance of the Securities, or assets held, by the Issuer, any entity within the Futuris group or of any of their respective subsidiaries or related entities or any other entities with a role in connection with the issue of the Securities or the investments of the Issuer.

National Australia Bank Limited has adopted the revised Code of Banking Practice 2003. For details of the Code contact the National Australia Bank Limited on 13 22 65 and select the option to speak to a Customer Service Representative. Or visit us at national.com.au. For information about National Australia Bank Limited's dispute resolution processes click on Dispute Resolution.