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Media Release: ANZ Perpetual Preferred Issue

Document date:  Mon 16 Nov 1998
Published:  Mon 16 Nov 1998 00:00:00
Document No:  143066
Document part:  A
Market Flag:  Y
Classification: 

HOMEX - Melbourne                                                     

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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$350 million at 8.08%. This means
that, subject to any over allotment, 56.016 million preference shares
will be issued.

ANZ Chief Financial Officer, Mr Peter Marriott, said market
conditions had allowed ANZ to expand the size of the Issue from
US$200 million to US$350 million.

"The response by US retail investors has allowed us to access
additional Tier 1 qualifying capital and further broaden ANZ's
sources of capital and funding," Mr Marriott said.

For media enquiries, please contact:


David Ward                         Paul Edwards
General Manager                    Head of Group Media Relations

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