On-Market Buy-Back Extended

Document date:  Thu 27 Apr 2000
Published:  Thu 27 Apr 2000 17:16:31
Document No:  161451
Document part:  A
Market Flag:  Y
Classification:  Market Buy-Back 

AUSTRALIA & NEW ZEALAND BANKING GROUP LI      2000-04-27  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

+++++++++++++++++++++++++
Australia and New Zealand Banking Group Limited announced today that
it had extended its market buyback scheme that will enable it to
buyback up to an additional 85 million ordinary shares.

The continuation of the buyback scheme reflects ANZ's continued focus
on active capital management.

The buyback period is expected to be completed by 17 November 2000.
Shares which are bought back under the scheme will be cancelled. ANZ
is not obliged to acquire all or any of the maximum number of shares
under the buyback scheme.

Deutsche Securities Australia Limited and Salomon Smith Barney
Australia Securities Pty Limited have been appointed as the brokers
who will act on the company's behalf for the buyback.

The effective management of capital is a priority for ANZ. The sale
of the overseas banking operation conducted by ANZ Grindlays Bank
Limited and the high level of internal capital generated from strong
earnings growth, have created a capital surplus for the Group. The on
market ordinary share buyback of up to $1 billion, is continuing in
addressing surplus capital.

For media enquiries, contact:        For analyst enquiries, contact:
Paul Edwards                         David Ward
Tel: 03-9273 6955 or 0409-655 550    Tel: 03-9273 4185
edwardpl2@anz.com                    david.ward@anz.com

J L Slatter
GROUP GENERAL COUNSEL & COMPANY SECRETARY

 

                            APPENDIX 3C
                       ANNOUNCEMENT OF BUY-BACK
                   (EXCEPT MINIMUM HOLDING BUY-BACK)

Name of Entity
Australia & New Zealand Banking Group Limited   

ACN or ARBN
005 357 522

We (the entity) give ASX the following information.


INFORMATION ABOUT BUY-BACK

1. Type of buy-back                On market

2. Class of shares which is        Ordinary
   subject of the buy back                                            
   (eg, ordinary/preference)                                          

3. Voting rights                   One for one
   (eg, one for one)                                                  

4. Fully paid/partly paid (and     Fully paid
   if partly paid, details of                                         
   how much has been paid and                                         
   how much is outstanding)                                           

5. Number of shares in the         1,533,721,039
   class on issue                                                     


6. Whether shareholder approval    No
   is required for buy-back                                           

7. Reason for buy-back             Capital management
 
8. Any other information           No
   material to a shareholder's                                        
   decision whether to accept                                         
   the offer (eg, details of                                          
   any proposed take-over offer                                       
   or announcement)                                                   

ON-MARKET BUY-BACK

Items 9 to 13 are Not Applicable

9. Name of broker who will act     Deutsche Securities Australia
   on the company's behalf         Limited and Salomon Smith Barney
                                   Australia Securities Pty Limited

10.Name of each director and       No
   related party of a director                                        
   who reserves the right to                                          
   sell shares, and number of                                         
   shares in respect of which                                         
   that director or related                                           
   party reserves the right                                           

11.If the company intends to       Up to 85,000,000
   buy back a maximum number                                          
   of shares - that number                                            
                                                                      
   Note: This requires a figure                                       
   to be included, not a                                              
   percentage.                                                        

12.If the company intends to       During the period commencing 2 May
   buy back shares within a        2000 and ending on 17 November 2000
   period of time - that period                                       
   of time; if the company                                            
   intends that the buy-back                                          
   be of unlimited duration                                           
   - that intention                                                   

13.If the company intends to       No
   buy back shares if conditions                                      
   are met - those conditions                                         


EMPLOYEE SHARE SCHEME BUY-BACK

Items 14 to 15 are Not Applicable


SELECTIVE BUY-BACK

Items 16 to 18 are Not Applicable


EQUAL ACCESS SCHEME

Items 19 to 22 are Not Applicable


COMPLIANCE STATEMENT

1. The company is in compliance with all Corporations Law requirements
   relevant to this buy-back.

2. There is no information that the listing rules require to be 
   disclosed that has not already been disclosed, or is not contained 
   in, or attached to, this form.

J L Slatter
COMPANY SECRETARY
27/04/2000