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ANZ expands leasing operations through strategic alliance

Document date:  Thu 15 Jun 2000
Published:  Thu 15 Jun 2000 15:13:21
Document No:  163241
Document part:  A
Market Flag:  Y
Classification:  Other

AUSTRALIA & NEW ZEALAND BANKING GROUP LI      2000-06-15  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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MEDIA RELEASE

ANZ Asset Finance today announced a strategic alliance with Elderslie
Finance Corporation Limited to provide equipment operating lease and
asset rental services for customers - capitalising on the $2.5
billion dollar operating lease finance market.

The alliance known as ANZ Vendor Solutions draws on ANZ's expertise
in asset financing and Elderslie's skills in operating leases and
asset management, with ANZ providing the customer interface and
finance, and Elderslie managing back office functions including
equipment procurement, asset disposal, application processing,
payments, and asset tracking.

Head of ANZ Asset Finance, Mr Peter McMahon said the alliance builds
on ANZ's strong position in the finance leasing sector and is part
of its strategy to expand service offerings to the corporate sector.

"Through this partnership, we are able to offer our customers
equipment leasing and rental facilities on such things as computers
and telecommunications, with financing options designed to optimise
cash flow and the company's balance sheet," Mr McMahon said.

"Customers benefit by being able to return obsolete equipment and
access new technology in a time frame that suits their business,
without the hassle and cost of disposing of old assets," he said.

Joint Managing Director of The Elderslie Group, Mr Luis Garcia said
the alliance provides business with a complete package including
financing, advice, reporting facilities and an asset management and
disposal service.

"Also, Elderslie's proprietary life cycle asset management software,
which has tracking, valuations, maintenance scheduling and reporting
facilities, offers an attractive solution for companies with large
asset registers," Mr Garcia said.

ANZ Asset Finance is the asset finance arm of Australia and New
Zealand Banking Group Limited (ANZ) and operates in Australia as
Esanda Finance Corporation Limited.

Elderslie Finance Corporation is a wholly Australian owned group that
has been delivering a broad range of financial products and services
for over 40 years, specialising in operating leases to government and
private business.

For media enquiries, contact: 
Angela Diamond 
SENIOR MANAGER CORPORATE COMMUNICATIONS 
Telephone: 02 9227 1362 
Email: diamonda@anz.com

M Gibbings
MANAGER - MEDIA RELATIONS