Receipt of RMB Licence in China

Document date:  Fri 03 Mar 2000
Published:  Fri 03 Mar 2000 11:29:29
Document No:  159171
Document part:  A
Market Flag:  Y
Classification:  Other 

AUSTRALIA & NEW ZEALAND BANKING GROUP LI      2000-03-03  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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ANZ RECEIVES RMB LICENCE IN CHINA

ANZ today announced that it had been granted a Renminbi (RMB) licence
from the People's Bank of China enabling ANZ to expand its operations
in Shanghai to conduct business in China's national currency - the
Renminbi.

ANZ Head of International, Mr Elmer Funke Kupper, said ANZ was
delighted the licence had been granted as it represented a milestone
for ANZ's future business in China.

"The licence enhances our ability to provide financial services to our
international clients participating in China's rapidly growing
commercial and industrial sectors," Mr Funke Kupper said.

"In addition, it will provide us with an excellent opportunity to
support the Chinese Government's efforts to develop the financial
services market in China," he said.

Mr Funke Kupper also acknowledged the support provided by the
Australian Government in ANZ's application for the RMB licence.

ANZ's links with China extend more than 50 years to 1948, when ANZ
became an Australian Dollar correspondent for the Bank of China. ANZ
opened a representative office in Beijing in 1986 and its first
branch in Shanghai in 1993, followed by Beijing in 1997. It also has
a branch in Hong Kong.

For media enquiries, please contact:
Paul Edwards 
HEAD OF GROUP MEDIA RELATIONS 
Tel: 03-9273 6955
or   0409-655 550 
Email: edwardpl2@anz.com