Chaney to chair Woodside in mid-2007

Michael Chaney is making sure that he remains busy after quitting as Wesfarmers Ltd chief earlier this year. On top of his current role of National Australia Bank, he plans to join the Woodside Petroleum Ltd board in 2007 as well as become chancellor of the University of Western Australia next month.

Considered a prize catch after leaving Wesfarmers lauded as Australia's most admired CEO, Mr Chaney's decision to take on the role to be vacated by Charles Goode and take on the UWA role at Woodside will alleviate fears that his new corporate commitments would take him away from WA.

Mr Chaney declared a beneficial interest in $20,000 Woodside shares worth almost $700,000 at current prices.

He also retains the chair of Gresham Partners Holdings Ltd, which is 50 per cent owned by Wesfarmers, and is president of the Business Council of Australia.

"He has an outstanding reputation as a leading Australian businessman and citizen," Mr Goode said.

In January, Mr Chaney becomes chancellor of UWA which is currently in the midst of a major fund raising drive to expand its business school. He replaces Ken Michael who is to become WA's new governor.

Below is the official Woodside announcement:

MICHAEL CHANEY JOINS WOODSIDE BOARD OF DIRECTORS
Woodside Petroleum Ltd. Chairman Charles Goode announced today the appointment of Michael
Chaney as an independent, non-executive Director on the Company's Board.
Mr Goode said: "Woodside is fortunate to attract Mr Chaney to its Board.

He has an outstanding reputation as a leading Australian businessman and citizen."
Mr Chaney is Chairman of the National Australia Bank Limited and Gresham Partners Holdings
Limited and President of the Business Council of Australia.

Next month he will become Chancellor of the University of Western Australia.
Mr Chaney started his working life as a petroleum geologist on the North West Shelf Venture with
Woodside-Burmah Oil NL, a forerunner of today's Woodside Petroleum Ltd., and was engaged in
the oil exploration industry in Australia, the United States and Indonesia for eight years.

In 1983 Mr Chaney joined Wesfarmers and was Managing Director for 13 years from 1992 until his
retirement in July 2005. He was a director of BHP (and subsequently BHP Billiton) for 10 years until
his retirement in November of this year.

Mr Chaney has a Bachelor of Science and a Master of Business Administration from the University
of Western Australia. He was appointed an Officer of the Order of Australia in 2004.

Mr Goode also announced his intention to retire from the Woodside Board in mid 2007 and that

Mr Chaney would succeed him as Chairman of the Company.

Michael Alfred And Rosemary
Margaret Chaney as trustees for the
Marcellino Trust
Number & class of Securities
20,000 ordinary shares in Woodside Petroleum
Ltd.

Below is UWA's announcement from July this year:

UWA APPOINTS NEW CHANCELLOR

The recently retired Chief Executive Officer of Wesfarmers Limited, Dr Michael Chaney, has been appointed Chancellor of The University of Western Australia from 2006.

The UWA Senate, the University's governing body, this afternoon appointed Dr Chaney for a four-year term to succeed Dr Ken Michael who will become Governor of Western Australia in January 2006.

"Dr Chaney's reputation and experience reflect all the attributes required of a Chancellor to lead the governing body of a modern, dynamic and international University," Dr Michael said.

"The University Senate believes that Dr Chaney's qualities and skills - attained over many years as a leader both in the private sector and through his contribution to community organisations - will contribute significantly to the role of The University of Western Australia and its standing in the wider community."

Dr Chaney (who is currently overseas) said he was delighted to have been named as the University's next Chancellor.

"UWA is a great institution with which I have had a long connection and I look forward to being involved in its exciting future," he said.

The Vice-Chancellor of The University of Western Australia, Professor Alan Robson welcomed Dr Chaney's appointment.

"It will be a privilege to work with Dr Chaney as Chancellor. He is a graduate of UWA and has given significant time and energy to University activities and initiatives. His involvement in many aspects of business and community activity within Western Australia is an example of both good leadership and good citizenship," he said.

"I also would place on record the thanks of the University community for the continuing efforts of Dr Ken Michael, who serves the University and the State so well. The University is privileged to have the services of Dr Michael as its current Chancellor."