300000000 QBE Capital Funding LP - Irish Stock Exchange

The following table contains information for the spot settlement rate for the Australian dollar into
pounds sterling for the periods indicated.
At
Period
End
Average
Rate (1) High Low
Year ended December 31,
2001 ........................................... 0.3518 0.3589 0.3819 0.3303
2002 ........................................... 0.3499 0.3615 0.3940 0.3390
2003 ........................................... 0.4208 0.3978 0.4299 0.3524
2004 ........................................... 0.4082 0.4015 0.4272 0.3728
2005 ........................................... 0.4274 0.4193 0.4400 0.4011
Period
January 2006 .................................... 0.4257 — 0.4283 0.4205
February 2006 ................................... 0.4243 — 0.4270 0.4220
March 2006 ..................................... 0.4111 — 0.4275 0.4039
April 2006 ...................................... 0.4174 — 0.4211 0.4105
May 2006 ...................................... 0.4028 — 0.4182 0.3991
June 2006 ...................................... 0.4017 — 0.4070 0.3868
(1) Determined by averaging the spot settlement rate on the last day of each month during the period.
Fluctuations in the exchange rate between the Australian dollar and other currencies in which we
generate revenue and expenses affect the Australian dollar amount of our profits, assets, liabilities and
shareholders’ equity. See “Risk Factors—QBE’s Business Risk Factors—Our financial results are significantly
affected by changes in exchange rates.”
The Australian dollar is convertible into US dollars and pounds sterling at freely floating rates. Except
as described below, there are currently no restrictions on the flow of currency among Australia, the United States,
the United Kingdom and Jersey.
Australia
Transactions involving the transfer of funds or payments to, by the order of, or on behalf of prescribed
entities, or any undertaking owned or controlled directly or indirectly, by prescribed entities, are not permitted
without the specific approval of the Reserve Bank of Australia. Prescribed entities currently include:
• supporters of the former government of the Federal Republic of Yugoslavia; and
• specified Ministers and senior officials of the Government of Zimbabwe.
Accounts of persons and entities identified by the Australian Minister for Foreign Affairs as being
associated with terrorism can be frozen, and transactions with these persons and entities are prohibited under
various Australian regulations.
The Commonwealth of Australia has passed regulations to make effective the United Nations Security
Council resolutions which impose a freeze on financial assets and foreign exchange dealings with certain persons
and entities which currently include:
• al-Qaeda, the Taliban and Osama Bin Laden and associated individuals and entities;
• specified nationals of Bosnia/Serbia; and
• the former Government of Iraq and its senior officials.
12