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ANZ Drops Rates on Home Loans

Document date:  Wed 07 Feb 2001
Published:  Wed 07 Feb 2001 11:55:30
Document No:  172902
Document part:  A
Market Flag:  N
Classification:  Progress Report - Other

AUSTRALIA & NEW ZEALAND BANKING GROUP LI      2001-02-07  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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ANZ today announced it would drop interest rates on variable home and
residential investment loans following the Reserve Bank of
Australia's decision to lower the Official Cash Rate.

The interest rate for ANZ's standard variable housing loan, which has
no monthly fees, will drop by 0.5%pa, from 8.07%pa to 7.57%pa. The
rate change is effective from 16 February 2001.

The drop in the standard variable interest rate follows ANZ's
introduction of a special Six Month Fixed Rate Home Loan at 4.95%pa
early last week.

ANZ Head of Personal Financial Services Mr Peter Hawkins said ANZ
customers will not only benefit from the drop in interest rates, but
many will continue to benefit from features such as no monthly fees
and 100% offset facility.


FOR MEDIA ENQUIRIES, CONTACT:

Rita Zonius 
MEDIA RELATIONS MANAGER 
Tel: 03-9273 6955 or 0409-655 551
Email zoniusr@anz.com