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Executive Director Retires

Document date:  Tue 10 Nov 1998
Published:  Tue 10 Nov 1998 00:00:00
Document No:  142953
Document part:  A
Market Flag:  N

HOMEX - Melbourne                                                     

ANZ today announced that Mr John Ries, Executive Director, has for
personal reasons decided to take early retirement

Mr Ries has had a long and distinguished career with ANZ since
joining in 1961 including many senior executive roles. He was
appointed Executive Director in 1992. He is currently head of
Corporate and Investment Banking, and is Chairman of ANZ Holdings
(New Zealand) Limited and ANZ Grindlays Bank Limited.

Mr Ries will retire from the ANZ Board prior to the Annual General
Meeting in December and will leave ANZ on 31 December 1998.
Executives reporting to Mr Ries will then report directly to the
Chief Executive Officer.

ANZ Chief Executive Officer, Mr John McFarlane said: "John has served
ANZ with distinction for 38 years. His commitment to building strong
links with customers has been the hallmark of his career. I will
personally miss his wise counsel. The ANZ Board, executives and staff
across the Group join with me to wish John well for his retirement".

Mr Ries said: "There is never an ideal time to leave a company,
particularly a company to which one has given an entire career.
Nevertheless this is a natural point where my duties will permit me
to step down from the Bank. I wish ANZ well for the future".

For media enquiries, please contact:

P Edwards