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Outlook lifted by Standard & Poor`s

Document date:  Wed 16 Dec 1998
Published:  Wed 16 Dec 1998 00:00:00
Document No:  144045
Document part:  A
Market Flag:  N

HOMEX - Melbourne                                                     

ANZ has welcomed today's announcement that its outlook had been
lifted from negative to stable by the rating agency Standard &
Poor's. The AA- rating was affirmed.

ANZ Chief Executive Officer, Mr John McFarlane said: "The improvement
in Standard & Poor's assessment of ANZ's outlook reflects our success
in managing down the level of risk across the Group."

Standard & Poor's have also highlighted the progress we have made in
reducing costs. We are pleased to have this independent endorsement
of our actions," Mr McFarlane said.

For media enquiries, please contact:

David Ward 
General Manager Office of the Chief Executive
Tel: 03-92734195

Paul Edwards 
Head of Group Media Relations