Asia PR News

MELBOURNE, March 29/Medianet International-AsiaNet/ –

In accordance with the requirements of the New York Stock Exchange,
Telstra Corporation Limited (NYSE: TLS) confirms its previous advice to the
market that it intends to withdraw the listing of its American Depositary
Shares, evidenced by American Depositary Receipts (ADR), and the underlying
ordinary shares from the New York Stock Exchange. In conjunction with the
delisting, Telstra will be moving to an over-the-counter ADR program.

The securities will not be listed on any other exchange in the United
States, but Telstra’s ordinary shares will continue to be listed on the
Australian Stock Exchange.

On 21 March 2007, the U.S. Securities and Exchange Commission approved
final rules that will make it easier for foreign companies such as Telstra to
terminate their SEC registration. When the SEC’s deregistration rules become
effective, Telstra intends to fully deregister from the SEC’s ongoing reporting
obligations in order to reduce administrative burdens and costs.

Media contact:

Rod Bruem
+61 2 9206 0092

SOURCE: Telstra Corporation Limited