RIOWAB Series Call Warrants Supplementary Offering Circular

Document date:  Tue 27 Feb 2001
Published:  Tue 27 Feb 2001 14:12:03
Document No:  173713
Document part:  A
Market Flag:  N
Classification:  Structured Products Issuer Report 

AUSTRALIA & NEW ZEALAND BANKING GROUP LI      2001-02-27  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

+++++++++++++++++++++++++
Australia and New Zealand Banking Group Limited (ANZ) has made the
following change to the RIOWAB Series of warrants (Warrants)
effective 27 February 2001:

RIOWAB Exercise Price (perUnderlying Security): $32.00

This is a Supplementary Offering Circular to the Offering Circular
dated 28 November 2000 as updated by the Supplementary Offering
Circular dated 4 January 2001 issued by ANZ (ABN 11 005 357 522 as
Warrant Issuer and ANZ Securities Limited ACN 004 997 111
(ANZSecurities) as Broker to the Issue (Offering Circular). There were
no holders of the Warrants other than ANZ or its associates at the
time of the change. No other term of the Warrants was varied and no
other part of the Offering Circular is affected.

No other circumstance has arisen and no other information has become
available since the date of the Offering Circular that should
materially affect an investor's assessment of the risks, rights and
obligations associated with the Warrants or the capacity of the
Issuer to honour and to perform its obligations in respect of the
Warrants.

Copies of the Offering Circular may be obtained from ANZ Securities
by calling 1800 337 358.

This Supplementary Offering Circular is issued for the purposes of
the ASX Business Rules. Unless the context otherwise requires,
interpretation rules applying to the Offering Circular apply in this
Supplementary Offering Circular. This is not a disclosure document
registered or lodged under Part 6D of the Corporations Law and
Australian Stock Exchange Limited and Australian Securities and
Investments Commission take no responsibility for its contents. Rio
Tinto Limited has had no involvement in the preparation and issue of
this Supplementary Offering Circular. ANZ Securities engages in
market making activities in relation to the Warrants and is
responsible for managing the hedging strategies of its associate,
ANZ. For these purposes, a related body corporate beneficially owns
all of the Warrants not held by investors. The number of Warrants
held necessarily fluctuates from time to time. In managing the
hedging strategies, ANZ Securities may deal in shares the subject of
Warrants or any derivative of those shares.

Potential investors should always seek expert independent advice
relating to their own financial situation and objectives before
investing in warrants.