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NAB Media Release: ANZ Offer on Agencies not realistic

Document date:  Tue 09 Apr 2002
Published:  Tue 09 Apr 2002 14:23:52
Document No:  189033
Document part:  A
Market Flag:  Y
Classification:  Other


HOMEX - Melbourne                                                     

National Australia Bank has declined the offer from ANZ Bank
regarding the purchase of 56 agencies throughout Australia.

"The offer is unrealistic because we are not leaving these towns
without a banking service," Mr Ian MacDonald, Executive General
Manager, Financial Services Australia said today.

"The National remains committed to our customers in rural and
regional Australia and through Australia Post is increasing its
service in these areas.

"Other financial institutions are free to compete in these locations
if they wish to do so," he said.

"We are not leaving these communities. We intend to retain our
customer base and believe the Australia Post arrangement provides our
personal and business customers with greater access to day to day
banking than our limited service agencies," he said.

The Australia Post arrangement provides personal banking services in
2900 locations throughout Australia and is in addition to
approximately 850 National Australia Bank branches.

For further information, please contact, 

Majella Allen                 Tamsin Beale 
National Australia Bank       National Australia Bank 
(03) 8641 3857                (03) 8641 4982
0410 440 305                  0418 104 052