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ANZ Perpetual Preferred Issue

Document date:  Wed 16 Sep 1998
Published:  Wed 16 Sep 1998 00:00:00
Document No:  140941
Document part:  A
Market Flag:  Y

HOMEX - Melbourne                                                     

ANZ advises that following the United States Securities Exchange
Commission declaring effective the ANZ Exchangeable Preferred
Trust registration statement, the underwriters led by Merrill Lynch
have underwritten the transaction for US$400 million at 8.0%.

ANZ Chief Financial Officer, Mr Peter Marriott, said that given the
recent turmoil in financial markets, ANZ was very satisfied with the
outcome of the transaction.

"It is pleasing for ANZ to be the first Australian bank to obtain
Tier One qualifying capital from the US retail market and that the
response by US retail investors has further broadened ANZ's sources
of capital and funding," Mr Marriott said.

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David Ward                        Paul Edwards
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