For release 17 Januray 2006

Vanguard Investments Australia Ltd (Vanguard) has announced the appointment of Senior Marketing Executive, Mr Colin Bold, to take up the position of Head of Marketing.

Mr Bold brings a depth of experience to the role and his appointment will help strengthen the group's growth in the Australian market. He assumes responsibility for brand, marketing strategy and implementation, reporting to Vanguard's Head of Retail, Mr Robin Bowerman.

"We are delighted to welcome Colin to Vanguard," Mr Bowerman said. "Colin brings over 16 years' experience in the financial services industry, focusing on marketing and distribution. Vanguard looks forward to the contribution Colin will make in this strategically important area."

Prior to joining Vanguard, Mr Bold led the marketing of Commonwealth Bank's financial planning division, where he was responsible for the marketing of advice incorporating the Financial Wisdom and Commonwealth Financial Planning brands.

Mr Bold has held senior roles with the Commonwealth Bank and Colonial Limited, with responsibilities spanning marketing, product and distribution of funds management, insurance and superannuation products. Mr Bold also brings extensive experience in strategy development and implementation of major distribution projects, including the franchising of Colonial State Bank.

"From a marketing perspective, Vanguard's investment philosophy represents to me one of the most exciting opportunities in the financial services industry in the Australian market today" said Mr Bold.

"Vanguard has a strong heritage of championing the needs of the investor. It is this investor-focused approach which continues to resonate with investors today. As investors also continue their thirst for education, Vanguard is well positioned to champion the merits of indexing and investing for the long term" he added.

Mr Bold has a BCom in Marketing and is a Fellow of the Australian Institute of Company Directors. He commenced his role on 12 December, 2005.
Notes to Editors:

Vanguard Investments Australia Ltd is a wholly owned subsidiary of The Vanguard Group, Inc., which is based in the United States and currently manages approximately US$921 billion (A$1.25 trillion) for more than 18 million individual and investor accounts. In Australia, Vanguard has established a reputation as an index specialist, managing more than A$36 billion in index funds, for both institutional and retail investors. Vanguard Australia offers a series of index funds covering major asset sectors and a range of diversified index funds.


- ends -