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Media Release: ANZ Shareholding in St George

Document date:  Mon 14 Feb 2000
Published:  Mon 14 Feb 2000 18:41:00
Document No:  158335
Document part:  A
Market Flag:  N
Classification:  Security holder details - Other

AUSTRALIA & NEW ZEALAND BANKING GROUP LI      2000-02-14  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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In line with Australian Stock Exchange requirements, ANZ today
announced it had increased its relevant interest in St George Bank
Limited to 7.2%.

ANZ Chief Executive Officer, Mr John McFarlane said: "We are keeping
our strategic options open. Our investment in St George is one of the
medium term strategic options for ANZ and does not signify any
strategic intent beyond this."

"As I have previously said, we do not have a sense of urgency about
buying further shares. We have however taken the opportunity to
consolidate our holding. One of our core principles is that ANZ will
not pursue any strategy at prices beyond our view of fair strategic
value," Mr McFarlane said.


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