Directors' Remuneration

Directors' fees payable to Non-Executive Directors for the year ended 31 December 2006 are as follows:

Non-Executive Director Position     Fees ($) Chairman 346,700       Director (base fee) 115,550       Chairman – Audit, Risk & Compliance Committee 17,350       Member – Audit, Risk & Compliance Committee 11,550       Chairman – Compensation Committee 11,550       Member – Compensation Committee 6,950

No fees are payable in respect of membership of any other Board Committees.

These Non-Executive Directors' fees are approved by the Executive Directors, based on advice from external remuneration consultants. 

There is no current scheme for the payment of retirement allowances. However, accrued entitlements under a scheme which was terminated as at 31 December 2002 were fixed at that date and will be paid when the Director ceases to hold office. Recognising that payment has been deferred, the accrued entitlements will be indexed against the movement in Average Weekly Ordinary Time Earnings between 1 January 2003 and the date of payment of of the entitlements to the Directors.  Where applicable, contributions required under Superannuation Guarantee legislation are made on behalf of the Directors.

Since 1 July 2003, a Non-Executive Directors' Share Plan has operated whereby the Directors will receive a minimum of 25% (and up to 100%) of their base fees in the form of CCA Ordinary Shares.