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Media Release: To acquire Amerika Samoa Bank

Document date:  Thu 16 Dec 1999
Published:  Thu 16 Dec 1999 00:00:00
Document No:  156344
Document part:  A
Market Flag:  Y
Classification: 

HOMEX - Melbourne                                                     

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ANZ today announced it had reached agreement to acquire 100 per cent
of Amerika Samoa Bank, subject to the approval of Amerika Samoa Bank
shareholders and United States regulatory authorities.

Amerika Samoa Bank, American Samoa's leading consumer bank, has
strong retail and commercial banking operations with total assets of
AUD$100 million and four branches, including two on the main island
of Tutuila.

ANZ Head of International, Mr Elmer Funke Kupper, said the
acquisition of Amerika Samoa Bank complemented ANZ's strategic
commitment to the Pacific region.

"Amerika Samoa Bank is a natural extension of our Pacific business
where we already have leading positions in seven countries," Mr Funke
Kupper said.

"We believe ANZ's experience in trade, business banking and
electronic banking will add value to Amerika Samoa Bank's sound,
underlying consumer business and assist with the development of trade
and investment flows in the region," he said.

ANZ expects to complete the acquisition of Amerika Samoa Bank in May
2000.

For media enquiries, please contact:

Paul Edwards 
Head of Group Media Relations 
Tel: 03-9273 6955 or 0409-655 550 
Email: edwardpl2@anz.com

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