WPLWAC/WPLWAD - Adjustment for Special Dividend

Document date:  Fri 01 Mar 2002
Published:  Mon 04 Mar 2002 17:16:45
Document No:  187685
Document part:  A
Market Flag:  N
Classification:  Structured Products Issuer Report 

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2002-03-01  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

+++++++++++++++++++++++++
Australia and New Zealand Banking Group Limited confirms its WPLWAC
and WPLWAD Series of American Call Warrants over Ordinary Shares in
Woodside Petroleum Limited (WPL), issued by it under the Offering
Circulars dated 20 September 2001 and 5 December 2001 respectively,
have been adjusted to take account of the recently announced special
dividend involving WPL shares.

WPLWAC

The revised Required Number of Warrants is now 3.9257 
The revised Exercise Price is now $14.23

WPLWAD

The revised Required Number of Warrants is now 3.9257 
The revised Exercise Price is now $13.25

The adjustments will take effect on the commencement of normal
trading on the ex-date being 4 March 2002.


A Ezra 
HEAD OF EQUITY DERIVATIVE SALES