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New Zealand Issue of Securities

Document date:  Tue 07 Sep 1999
Published:  Tue 07 Sep 1999 00:00:00
Document No:  151915
Document part:  A
Market Flag:  Y
Classification: 

HOMEX - Melbourne                                                     

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Australia and New Zealand Banking Group Limited (ANZ) announces that
it proposes, subject to obtaining all necessary regulatory approvals,
to make a public offering of Securities in New Zealand.

The Securities will be denominated in New Zealand dollars and are
designed to track ANZ's share price and pay an income distribution
equivalent to the dividend ANZ pays on its ordinary shares and to
carry imputation credits.

The issue is expected to take place in the first quarter of calendar
2000.

ANZ has engaged Merrill Lynch and J B Were to assist in the final
development of the new issue.


J L Slatter 
GROUP GENERAL COUNSEL & COMPANY SECRETARY

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