TEXT-Suncorp increases size of CPS offer

(Following is a release by Australian financial services firm Suncorp Metway Ltd (SUN.AX))

SYDNEY, June 4 - Suncorp today announced it has increased the size of the proposed offer of convertible preference shares (CPS) to A$735 million from A$700 million (Offer) in response to strong security holder demand.

Offer information

The Offer opened on 16 May 2008 and provides eligible applicants with the opportunity to invest in CPS, which are fully paid preference shares in the capital of Suncorp. Applications must be for a minimum of A$2,000 (ie 20 CPS).

The Offer comprises:

* a Securityholder Offer, open to Australian registered holders of ordinary shares, RPS or floating rate capital notes;

* a Broker Firm Offer, open to clients of syndicate brokers;

* an Institutional Offer, open to certain institutional investors; and

* a General Offer, open to all other Australian residents.

The closing date for the Offer is expected to be 5.00pm today for the Securityholder Offer and General Offer, and 10.00am 10 June 2008 for the Broker Firm Offer.

Suncorp has lodged a supplementary prospectus for the Offer with the Australian Securities and Investments Commission today, which includes details of the revised Offer size. The prospectus and the supplementary prospectus are available in electronic form on Suncorp's website, www.suncorp.com.au/CPS. Eligible applicants who have any questions regarding the Offer or wish to obtain a copy of the prospectus and the supplementary prospectus should call the Suncorp CPS InfoLine on 1300 665 385.