ANZ Instalments Offering Circular dated 7 June 2002

Document date:  Tue 11 Jun 2002
Published:  Tue 11 Jun 2002 13:23:07
Document No:  191161
Document part:  A
Market Flag:  N
Classification:  Structured Products Disclosure Document 

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2002-06-11  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

+++++++++++++++++++++++++
New Series of ANZ Instalments offered over shares in Telstra
Corporation Limited (TLS)

Warrant Issuer:
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
ABN 11 005 357 522


1. KEY INFORMATION

ANZ       LISTED   ISSUE      INDICATIVE     INDICATIVE      CASH     
INSTAL-   ENTITY   SIZE       UNDERLYING     PAYMENT YOU     PAYMENT  
MENTS            (MILLION)    SECURITY       PAY ON          YOU REC. 
SERIES                        PRICE          APPLICATION 1   AT   
ASX                                          (1ST PAYMENT)   ACCEPT-  
CODE                                                         ANCE
                                             CASH            SHARE
                                             APPLICATION     APPLICA-
                                                             TION 2

        Telstra
TLSIAB  Corporation   10      $4.58          $1.23           $3.35
        Limited
        (TLS)

MINIMUM       ROLLOVER       LOAN        COMPLETION       INTEREST
NO. OF        PAYMENT        AMOUNT 4    PAYMENT          PAYMENT DATE
APPLICATION   YOU MUST                                    AND
SECURITIES    PAY ON                                      COMPLETION
              APPLICATION 3                               DATE 5
SHARE         ROLLOVER
APPLICATION   APPLICATION


500           $0.59           $3.39      $3.95            25/06/2003


For the purposes of this Offering Circular, a Set means one ANZ 
Instalment.


TIMETABLE

Offer Period Commences for all Series                     7 June 2002

Offer Period Closing Date for Cash Applications and      21 June 2002
Share Applications 

Offer Period Closing Date for Cash Applications and      24 June 2002 
Share Applications 

First ASX Trading Day of ANZ Instalments                 11 June 2002 

Completion Date for all Series                           26 June 2003


ANZ Instalments may be issued after the commencement of trading on
ASX.


1  First Payment varies.  Call before applying.  Indicative amounts as
at date of Offering Circular only.
2  Cash Amount varies at any time, as determined by or on behalf of 
ANZ.  Indicative amounts as at date of Offering Circular only.  Call 
before applying.
3  Rollover Payment varies at any time, as determined by or on behalf 
of ANZ.  Indicative amounts as at date of Offering Circular only.  
Call before applying.
4  As at Offer Period Commencement.
5  This may be brought forward in some cases (see "Extraordnary Events
and Early Completion Date" on page 55).


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