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Preliminary Final Report & On-Market Buy-Back

Document date:  Wed 03 Nov 1999
Published:  Wed 03 Nov 1999 00:00:00
Document No:  154638
Document part:  Q
Market Flag:  Y
Classification: 

HOMEX - Melbourne                                                     

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DETAILS OF SPECIFIC RECEIPTS/OUTLAYS, REVENUES/EXPENSES
(Equity Accounted)

                                               Current      Previous
                                                period   corresponding
                                                             period
                                               AUDM      AUDM

12.1 Interest revenue included
     in determining item 1.4                     8,674        9,499
                                               
12.2 Interest revenue included
     in item 12.1 but not yet
     received (if material)                        965        1,122
                                               
12.3 Interest expense included
     in item 1.4 (include all
     forms of interest, lease
     finance charges, etc.)                      5,029        5,952
                                               
12.4 Interest costs excluded from
     item 12.3 and capitalised in 
     asset values (if material)                      -            -
                                               
12.5 Outlays (except those arising
     from the acquisition of an
     existing business) capitalised 
     in intangibles (if material)                    -            -
                                               
12.6 Depreciation and amortisation (excluding
     amortisation of intangibles)                  185          188


CONTROL GAINED OVER ENTITIES HAVING MATERIAL EFFECT
(See note 8)

13.1 Name of entity (or group of entities)    N/A
    
13.2 Consolidated operating profit (loss) 
     and extraordinary items after tax of 
     the entity (or group of entities) since 
     the date in the current period on which
     control was acquired                                  $      -
                                       
13.3 Date from which such profit has
     been calculated                                     -

13.4 Operating profit (loss) and extraordinary
     items after tax of the entity (or group of 
     entities) for the whole of the previous
     corresponding period                                  $      -

    
LOSS OF CONTROL OF ENTITIES HAVING MATERIAL EFFECT
(See note 8)

14.1 Name of entity (or group of entities)    N/A
   
                                        
14.2 Consolidated operating profit (loss) 
     and extraordinary items after tax of 
     the entity (or group of entities) for
     the current period to the date of loss 
     of control                                            $      -

14.3 Date to which the profit (loss) in
     item 14.2 has been calculated                       -   
   
14.4 Consolidated operating profit (loss) 
     and extraordinary items after tax of 
     the entity (or group of entities) while 
     controlled during the whole of the 
     previous corresponding period                         $      -
   
14.5 Contribution to consolidated    
     operating profit (loss) and 
     extraordinary items from sale of
     interest leading to loss of control                   $      -

                                                                   

DIVIDENDS (in the case of a trust, distributions)

15.1  Date the dividend (distribution) is payable        20/12/1999
                                        
15.2  Record date to determine entitlements to 
      the dividend (distribution) (ie, on the basis 
      of registrable transfers received up to 5.00pm
      if paper based, or by "End of Day" if a proper
      SCH transfer)                                      19/11/1999
                                        
15.3  The final dividend is declared                     22/11/1999


AMOUNT PER SECURITY
                                   Amount     Franked      Amount per
                                   per        amount       security
                                   security   per          of foreign
                                              security     source
                                              at           dividend
                                              36% tax
15.4 Final dividend:   
                    Current year       30c      24.0c        6.0c
                                                          
15.5                Previous year      28c      16.8c       11.2c


15.6 Interim dividend: 
                    Current year       26c      19.5c        6.5c

15.7                Previous year      24c      14.4c          -


TOTAL ANNUAL DIVIDEND (DISTRIBUTION) PER SECURITY
(Preliminary final statement only)
                                               Current       Previous
                                                  year         year

15.8 Ordinary securities                            56 c         52 c

15.9 Preference securities                           - c          - c


TOTAL DIVIDEND (DISTRIBUTION)
                                               Current      Previous
                                                period   corresponding
                                               AUDM       period
                                                            AUDM
                                              
15.10 Ordinary securities                          814          747

15.11 Preference securities                         72            -

15.12 Total                                        886          747


5.13 The dividend or distribution plans shown below are in operation.

 Dividend reinvestment plan
 Bonus option plan

15.14 The last date(s) for receipt of election notices
      for the dividend or distribution plans              19/11/1999
                          
15.15 Any other disclosures in relation to dividends (distributions)

 None


DETAILS OF AGGREGATE SHARE OF PROFITS OF ASSOCIATES

                                               Current      Previous
Entity's share of associate's                   period   corresponding
                                               AUDM       period
                                                            AUDM
                                              
16.1 Operating profit(loss) before
     income tax                                    (2)          (4)
    
16.2 Income tax expense                              -            -
    
16.3 Operating profit(loss) after
     income tax                                    (2)          (4)

16.4 Extraordinary items net of tax                  -            -
                                              
16.5 Net profit(loss)                              (2)          (4)

16.6 Outside equity interests                        -            -

16.7 Net profit(loss) attributable
     to members                                    (2)          (4)


MATERIAL INTERESTS IN ENTITIES WHICH ARE NOT CONTROLLED ENTITIES
The economic entity has an interest (that is material to it) in the 
following entities.

Name of entity       Percentage of ownership Contribution to operating
                         interest held at end      profit (loss) and 
                         of period or date of     extraordinary items
                               disposal                after tax

17.1 Equity accounted      Current    Previous   Current    Previous
     associated             period corresponding  period corresponding
     entities                          period    AUDM     period
                                                            AUDM

                                               
 Sime Merchant Bankers           -       26.5%       (2)        (4)
 Berhad

 ANZ Meespeirson              50.0%      50.0%        #          #    
 Clearing Services Ltd

 Grindlays Bahrain            40.0%         -         #          -
 Bank BSC
 

17.2 Total loss                                      (2)        (4) 

17.3 Other material 
     interests     
 
 -                               -          -          -          -

                                                                   

                                                                   


17.4 Total                                           (2)        (4) 



ISSUED AND QUOTED SECURITIES AT END OF CURRENT PERIOD 

Description includes rate of interest and any redemption or
conversion rights together with prices and dates.

 Category of                  Number       Number Par value  Paid-up
 securities                   issued       quoted  (cents)    value
                                                             (cents)
 18.1 Preference
      securities
      (description)      124,032,000  124,032,000   US625     US625


 18.2 Issued during
     current period       60,016,000   60,016,000    US625    US625


 18.3 Ordinary
      securities             



 18.4 Issued during
      current period        

 18.5 Convertible debt
      securities
      (description and 
      conversion factor)         N/A          N/A      N/A      N/A


 18.6 Issued during
      current period             N/A          N/A      N/A      N/A


 18.7 Options (description                         Exercise   Expiry
      and conversion factor)                         price     date
                                                    (cents)

On Issue                     249,357            -     8.76  30/01/2002
                              35,204            -     8.76  13/02/2002
                             100,000            -     8.76  23/03/2002
                             800,000            -     8.76  01/06/2002
                             173,592            -    11.45  22/01/2003
                             500,000            -    12.12  01/10/2002
                             500,000            -    11.40  01/10/2002
                             100,000            -    10.65  21/01/2003
                             100,000            -    11.40  21/01/2003
                              10,480            -    11.45  17/02/2003
                           1,450,000            -     9.51  23/02/2003
                             175,000            -    10.64  21/06/2003
                              50,000            -    10.76  30/07/2003
                             200,000            -     8.93  01/10/2003
                           1,125,000            -     8.97  27/10/2003
                             755,000            -    10.34  10/12/2003
                              10,000            -    10.41  27/01/2004
                             150,000            -    10.44  23/02/2004
                             175,000            -    11.44  24/03/2004
                             382,500            -    11.20  01/06/2004
                           2,795,000            -    11.20  01/06/2004
                               7,500            -    11.26  06/06/2004
                              25,000            -    11.29  04/07/2004
                             150,000            -    11.30  11/07/2004

 18.8 Issued during
      current period         200,000            -     8.93  01/10/2003
                           1,125,000            -     8.97  27/10/2003
                             755,000            -    10.34  10/12/2003
                              10,000            -    10.41  27/01/2004
                             150,000            -    10.44  23/02/2004
                             175,000            -    11.44  24/03/2004
                             385,000            -    11.20  01/06/2004
                           2,795,000            -    11.20  01/06/2004
                              12,500            -    11.26  06/06/2004
                              25,000            -    11.29  04/07/2004
                             150,000            -    11.30  11/07/2004


 18.9 Exercised during
      current period       1,570,000            -     5.34  30/01/1999
                              31,104            -     8.76  30/01/2002
                               1,134            -     8.76  13/02/2002
                              22,128            -    11.45  22/01/2003


 18.10 Expired during
       current period            184            -        -  30/01/2002
                               2,536            -        -  22/01/2003
                             100,000            -        -  21/06/2003
                               2,500            -        -  01/06/2004
                               5,000            -        -  06/06/2004


 18.11 Debentures  
       (totals only)             N/A          N/A

 18.12 Unsecured notes
       (totals only)             N/A          N/A


COMMENTS BY DIRECTORS

Comments on the following matters are required by ASX or, in relation
to the half yearly statement, by AASB 1029: Half-Year Accounts and
Consolidated Accounts. The comments do not take the place of the
directors' report and statement (as required by the Corporations Law)
and may be incorporated into the directors' report and statement. For
both half yearly and preliminary final reports, if there are no
comments in a section, state NIL. If there is insufficient space to
comment, attach notes to this report.

BASIS OF ACCOUNTS PREPARATION

If this report is a half yearly report, it is a general purpose
financial report prepared in accordance with the listing rules and
AASB 1029: Half-Year Accounts and Consolidated Accounts. It should be
read in conjunction with the last annual report and any announcements
to the market made by the entity during the period. [Delete if
inapplicable.]

Material factors affecting the revenues and expenses of the economic 
entity for the current period

 Refer accompanying announcement

A description of each event since the end of the current period which 
has had a material effect and is not related to matters already 
reported, with financial effect quantified (if possible)

 On 03/11/1999 the Group announced its intention to undertake an on
 market ordinary share buyback of up to $500 million. Other
 than this, there have been no significant events since 30/09/1999
 to the date of this report.

Franking credits available (amount):                       $       

Prospects for paying fully or partly franked dividends for at least
the next year

 Franking has been increased to 80% in the second half 1999, from
 75% in the first half in 1999. Franking last year was 60%. ANZ
 expects to increase the level of franking again in the year
 ahead.

Changes in accounting policies since the last annual report are 
disclosed as follows.

 This report has been based on financial data which has been prepared
 in compliance with the accounting provisions of the Banking Act,
 the Corporations Law, applicable Australian Accounting Standards and
 Urgent Issues Group Consensus Views. Where necessary, amounts shown
 for previous periods have been reclassified to facilitate comparison.

 The accounting policies have been consistently applied by entities
 in the Group and are consistent with those of the previous financial
 year expect for the changes disclosed below.

 CHANGES IN ACCOUNTING POLICY

 SOFTWARE DEVELOPMENT COSTS

 Effective 01/10/1998, costs incurred in developing, acquiring and
 enhancing application software are capitalised and amortised over
 the estimated useful life which generally ranges from 3 to 5 years.
 The Group previously expensed these costs. The change results from
 adoption of the US Statement of Position 98-1 "Accounting for the
 Costs of Computer Software Developed or Obtained for Internal Use."
                                                                   
 Operating profit after tax for the year ended 30/09/1999 increased
 by $39 million as a result of the change in accounting policy.


ADDITIONAL DISCLOSURE FOR TRUSTS

19.1 Number of units held by the management 
     company or a related party of it                           N/A
                               
19.2 A statement of the fees and commissions 
     payable to the management company.                         N/A
    
     Identify:
         initial service charges                                N/A
         management fees                                        N/A
         other fees                                             N/A


ANNUAL MEETING  
(Preliminary final statement only)

The annual meeting will be held as follows:

Place                         Sydney Convention Centre, Darling
                              Harbour

Date                          20/12/1999                       

Time                          10.00 am

Approximate date the  annual
report will be available      19/11/1999


COMPLIANCE STATEMENT

1  This statement has been prepared under accounting policies which
   comply with accounting standards as defined in the Corporations Law
   or other standards acceptable to ASX (see note 13).

   Identify other standards used -

2  This statement, and the financial statements under the Corporations
   Law (if separate), use the same accounting policies.

3  This statement does give a true and fair view of the 
   matters disclosed (see note 2).

4  This statement is based on financial statements to which one of the
   following applies. (Tick one)

             The financial             The financial
             statements have           statements have
             been audited.             been subject to
                                       review.
                                       
         x   The financial             The financial
             statements are in         statements have not
             the process of            yet been audited or
             being audited or          reviewed.
             subject to review.

5  The entity has a formally constituted audit committee.


J McFarlane 
CHIEF EXECUTIVE OFFICER
03/11/1999


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

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