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Extension of Share Buyback

Document date:  Wed 01 Nov 2000
Published:  Wed 01 Nov 2000 11:05:32
Document No:  169454
Document part:  A
Market Flag:  Y
Classification:  Issued Capital - Other , On-Market Buy Back

AUSTRALIA & NEW ZEALAND BANKING GROUP LI      2000-11-01  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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Australia and New Zealand Banking Group Limited announces that from
18 November 2000, it will extend the current on market share buyback
(originally announced on 27 April 2000) for a further 12 months.

Prior to 30 March 2000, the Company purchased on market 48 million
shares for $508.6 million. Subsequently, up to 31 October 2000, an
additional 42,801,650 shares have been purchased on market for $532.8
million. Accordingly up to 31 October 2000, the Company has purchased
a total of 90,801,650 shares on market for $1,041 billion. A further
42.8 million fully paid shares may still be repurchased under the
current buyback although ANZ is not obliged to acquire the maximum
number of shares under the scheme.

The buyback is expected to be completed by 17 November 2001. Shares
which are bought back under the scheme will be cancelled.

Deutsche Securities Australia Limited and Salomon Smith Barney
Australia Securities Pty Limited will continue as the brokers and
will act on the Company's behalf for the buyback.

The effective management of capital remains a priority for ANZ and
the continuation of the buyback reflects this focus. The high level
of internal capital generated from strong earnings growth has
generated surplus capital for the Group and the buyback scheme is
assisting in reducing this surplus.

FOR MEDIA ENQUIRIES, CONTACT:         FOR ANALYST ENQUIRIES, CONTACT:
Paul Edwards                          Philip Gentry
Tel: 03-9273 6955 or 0409-655 550     Tel: 03-9273 4185
edwardp12@anz.com                     gentryp@anz.com


J L Slatter
COMPANY SECRETARY