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Documents sent to Security Holders

Document date:  Thu 01 Jul 1999
Published:  Thu 01 Jul 1999 00:00:00
Document No:  149728
Document part:  A
Market Flag:  N
Classification: 

HOMEX - Melbourne                                                     

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LETTER TO SHAREHOLDERS

Enclosed with this edition of Shareholder Contact is your dividend
advice for the 1999 interim dividend. Directors were pleased to
increase the interim dividend by 8% from 24 cents to 26 cents per
share, franked at 75% (up from 60%).

This increase reflected the good performance of the Group over the
first half of the year. The Bank achieved profit growth
notwithstanding the loss of earnings from discontinued businesses and
the substantial reductions in selected assets in order to reduce
risks. Costs were down, bringing the cost to income ratio to 55.8%
and specific provisions were contained within the economic loss
provision. We are expecting an even stronger second half. 

The Group has also built a strong capital base, with a Tier 1 capital
ratio at 7.7%. This provides us with the flexibility either to
advance our core businesses through acquisition, or to return capital
to shareholders.

Our Year 2000 programme is on track and inside budget, and testing
with other financial institutions is well advanced. 

With the announcement of the result, Mr McFarlane took the
opportunity to outline a more focused strategic direction for ANZ.
This is outlined on page 2, and I encourage shareholders to read it.
To help us with the implementation of this new direction, we have
appointed a number of talented new executives to our senior
management team. Details are also on page 2.

Shareholders should note that the ANZ Share Registry is changing to
Computershare and contact details are contained on page 4.

We are holding shareholder information meetings in Brisbane,
Perth and Adelaide in August and this years Annual General Meeting
will be held in Sydney on 20 December. We look forward to meeting as
many of our shareholders as possible at these meetings.


C Goode


KEY DATES

Brisbane Shareholders' Meeting       13 August 1999
Perth Shareholders' Meeting          16 August 1999
Adelaide Shareholders' Meeting       17 August 1999
Announcement of Annual Results      3 November 1999
Record Date for Final Dividend     19 November 1999
Payment of Final Dividend          20 December 1999
Annual General Meeting (Sydney)    20 December 1999

A full copy of this announcement, including Shareholder Contact, is 
available for purchase from ASX Customer Service on 1 300 300 279.


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