MEDIA RELEASE BOQ and Pioneer satisfy due diligence conditions by lindayy

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									                                  MEDIA RELEASE
                                     Thursday September 7, 2006




          BOQ and Pioneer satisfy due diligence conditions
Bank of Queensland and Pioneer Permanent Building Society advise that they are satisfied with
the outcomes of their respective Due Diligence investigations and the Due Diligence conditions
under the Merger Implementation Deed between the parties are now satisfied.

The Bank and Pioneer continue to progress the merger and Pioneer shareholders will receive a
further update by way of letter early next week.




                                 For more information please contact
            BOQ: Paul Turner                       Phone: 07 3212 3522
            GM Corporate Affairs & Customer        Mobile: 0439 730 547
            Relations                              Email: paul.turner@boq.com.au
            Pioneer: Larry Voltz                   Phone: 07 4957 0827
            Company Secretary                      Email: larry@ppbsl.com.au

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