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On Market Buyback of Ordinary Shares

Document date:  Wed 09 May 2001
Published:  Wed 09 May 2001 10:11:21
Document No:  176440
Document part:  A
Market Flag:  Y
Classification:  Issued Capital - Other

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2001-05-09  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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On 27 April 2000 Australia and New Zealand Banking Group Limited
announced it would undertake an on market buyback scheme enabling it
to buyback up to a total of $1 billion of ordinary shares.

On 8 May 2001, ANZ completed its buyback involving 75,363,041
ordinary shares at a cost of $1 billion.

ANZ remains committed to ongoing capital management to maintain its
AA category credit rating and to target an inner (ie excluding
preference shares) tier 1 ratio of 6%.

FOR ANALYST ENQUIRIES, CONTACT

Philip Gentry
HEAD OF INVESTOR RELATIONS
Tel: 03 9273 4185 or 0411 125 474
Email: gentryp@anz.com

P J Mathews 
ACTING COMPANY SECRETARY