Media Release

Friday, 26 September 2003 - MVT77/2003

Reappointment Of Ms Sarah Israel To The Export Finance And Insurance Corporation Board

Trade Minister Mark Vaile today announced the reappointment of Ms Sarah Israel to the Board of the Export Finance and Insurance Corporation (EFIC).

EFIC is the Australian Government’s official Export Credit Agency and plays a key role supporting Australian exporters in areas not covered by the commercial sector.

“I’m delighted to see Ms Israel joining EFIC for another three years,”Mr Vaile said.  As a successful businesswoman from Queensland, Ms Israel knows what it takes to deliver results for regional exporters.”

Ms Israel has considerable experience in the finance and export industry. She has been a member of the EFIC Board since 2000 and Chair of the EFIC Audit Committee since 2001. She is also currently a director of Queensland Sugar Limited. She has previously chaired and been a director of several Queensland Government agencies, including the Queensland Electricity Transmission Corporation and Queensland Motorways Limited.

Ms Israel’s appointment follows the announced sale of EFIC’s short term export credit insurance business to Atradius (formerly known as Gerling NCM), scheduled for end-September. Following the sale, EFIC’s Export Finance Group will continue to play a key role backing Australia’s export ability by providing internationally competitive medium to long term finance and insurance services to Australian exporters and investors.

 “Ms Israel’s extensive skills and experience have proved invaluable to the EFIC Board in the past three years,”Mr Vaile said. “I know she will continue to play a crucial role supporting Australian exporters in the period post-divestment and beyond.”

Contact:  Matthew Doman  02 6277 7420