Media Release: Involvement in Bank Niaga bid

Document date:  Wed 17 Apr 2002
Published:  Wed 17 Apr 2002 12:55:48
Document No:  189293
Document part:  A
Market Flag:  N
Classification:  Other 

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2002-04-17  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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ANZ today confirmed that its involvement in the consortium biding for
PT Niaga Bank in Indonesia is indirectly as a shareholder of PT Panin
Bank.

This follows an announcement by the Indonesian Bank Restructuring
Agency yesterday evening that ANZ was a representative of a
short-listed consortium bidding for Bank Niaga.

The extent of ANZ's involvement and assistance is still to be
determined.

ANZ Managing Director Pacific and Personal Banking Asia, Mr Bob Lyon
said: "As a shareholder of Panin Bank, ANZ is supportive of such a
move, provided it can be purchased for reasonable value".

"The move is significant in the context of enhancing the value of our
existing investments in Indonesia," he said.

"Panin Bank is well capitalized with a capital adequacy ratio of 36%
as at 31 December 2001 and with this in mind we anticipate an
acquisition could be funded from Panin's internal resources," Mr Lyon
said.

ANZ has an 11% shareholding in PT Panin Bank and holds options to
increase its shareholding to 29%.

For media enquiries contact:

Paul Edwards
HEAD OF GROUP MEDIA RELATIONS
Tel: 03-9273 6190 or 0409-655 550
Email: edwardp12@anz.com