nabCapital.com

The latest fund to emerge from the extremely popular OM-IP range.

Man Investments, a world leader in providing alternative investments, has created this fund to harness the performance of two complementary investment approaches: the AHL Diversified Program and the RMF Portfolio. The combination of these investment approaches provides exposure to a wide range of international fund managers, investment strategies and markets.

Series 2 OM-IP15seven Limited has the following benefits:

• Performance- an aim to generate medium term capital growth over seven years*
• Diversification- Accesses more than 100 international markets and150 specialised international fund managers
• Capital Guarantee⁺- National Australia Bank Limited is providing a capital guarantee of A$1 per Share on the Maturity Date and a rising guarantee that may enable the capital guarantee to increase
• Liquidity -monthlyliquidity subject to the terms set out in the Prospectus

Applications for Shares in Series 2 OM-IP 15seven close on 24 November 2006 and are subject to a minimum investment of 5,000 Shares (priced at A$1 per Share), increasing in multiples of 1,000.

How to apply

• Give us your details and we will send you a copy of the Prospectus. Click here

Or

• Call us to request a Prospectus:
  Toll Free (Aust) 1800 652 669
  Toll Free (NZ) 0800 785 654
  Toll Free (Asia) 001 800 4824 2225

Further Information

• To download a marketing Brochure click here
• To download a Financial Services guide click here

Once you have read the Prospectus, please complete the enclosed application form and post to:

Man Investments Australia Limited
Level 21 Grosvenor Place
225 George Street
Sydney NSW 2000
Australia

*The aim to generate medium term capital growth is based on the simulated performance of the OM-IP 15seven Investment (see Section 3 of the Prospectus). Past performance is not a reliable indicator of future performance.

+ Subject to the terms of the NAB Guarantee set out in the Prospectus. Investors should consider the key risks set out in Section 7 of the Prospectus, in particular under the headings 'The NAB Guarantee' and 'Early Redemption'.

Important Information regarding National Australia Bank Group

The Shares in Series 2 OM-IP 15seven Limited ("the Company") are not deposits with or other liabilities of National Australia Bank Limited or other companies of the National Australia Bank group and Series 2 OM-IP 15seven Limited is not a member of the National Australia Bank group. Subject to the terms of the NAB Guarantee outlined in the Prospectus for the offer of Shares in the Company dated 4 August 2006 ("Prospectus"), National Australia Bank does not guarantee the performance of Series 2 OM-IP 15seven Limited or its trading subsidiary Series 2 OM-IP 15seven Trading Limited. National Australia Bank does not stand behind, in any way, the capital value or performance of the Company or the investments made by the Company and National Australia Bank's liability is limited to its liability under and subject to the terms of the NAB Guarantee outlined in the Prospectus. Investment in the Company's shares is subject to investment risk, including possible delays in payment and, except to the extent provided by the NAB Guarantee, loss of income and principal invested.

Offers of Shares in the Company are made in the Prospectus and Shares in the Company can only be acquired on the application form included in, or accompanying, the Prospectus. A copy of the Prospectus can be obtained by contacting National Australia Bank on1800 652 669, visit nabcapital.com/investments/omip or email: ims.investor.services@nab.com.au.

National Australia Bank Limited ABN 12 004 044 937 is responsible for the advice provided in this website.

Series 2 OM-IP 15seven Limited ARBN 120 190 409 is the issuer of the Shares. National Australia Bank Limited provides the NAB Guarantee. It is not responsible for the performance of Series 2 OM-IP 15seven Limited. The full text of the NAB Guarantee is set out in Appendix A of the Prospectus. National Australia Bank Limited acts as distributor of the Shares (through distribution arrangements between the National Australia Bank Limited and Man Investments Australia Limited (MIA)).

If you acquire the Shares, National Australia Bank Limited or MIA or other members of the Man Group may receive remuneration or other benefits in relation to that product, including consultancy, management and incentive fees and any other fee specified in the Prospectus for the Shares. In addition, National Australia Bank Limited may receive distribution fees for acting as distributor of the Shares. These fees are specified in our FSG in relation to the Prospectus available on our website at nabcapital.com/investments/omip.

The advice in this letter is of a general nature only. In preparing the advice no account was taken of the particular objectives, financial circumstances or needs of any particular person. Accordingly, before acting on the advice you should consider, or seek advice on whether the investment is appropriate in light of your particular objectives, financial circumstances or needs. You should obtain, and consider, the Prospectus before making any decision about whether to acquire, or continue to hold, Shares in the Company. To the maximum extent permitted by law, the National Australia Bank group expressly disclaims all or any liability which may arise out of the provision to or use by the recipient of this information and any other person.

The National Australia Bank has adopted the revised Code of Banking Practice 2003. For details of the Code contact the National Australia Bank 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 the National Australia Bank's dispute resolution processes click on Dispute Resolution.