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Warrant Report re adj. to WESWAA pursuant to capital return

Document date:  Fri 31 Jul 1998
Published:  Fri 31 Jul 1998 00:00:00
Document No:  139682
Document part:  A
Market Flag:  N

HOMEX - Melbourne                                                     

Australia and New Zealand Banking Group Limited as Issuer of Call
Warrants over Ordinary Shares of Wesfarmers Limited issued pursuant
to the Offering Circular dated 22 July 1997, advises that due to the
recently approved Capital Return, the terms of the Warrants will he
adjusted in the following manner:

Effective 31 July 1998:

Revised Underlying Parcel: Remains unchanged at one ordinary share in
Wesfarmers Limited ("WES") 

Revised Exercise Price: $12.50 (previously $13.00) 

Revised Required Number: Remains unchanged at 4 

For and on behalf of Australia and New Zealand Banking Group Limited