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Correction to Becoming a sub. holder for ALS

Document date:  Wed 12 Jun 2002
Published:  Wed 12 Jun 2002 10:21:37
Document No:  266293
Document part:  A
Market Flag:  N
Classification:  Becoming a substantial holder

ALESCO CORPORATION LIMITED                    2002-06-12  ASX-SIGNAL-G

HOMEX - Sydney                                                        

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As a result of its participation in the ING Australia Joint venture,
ANZ is regarded as having acquired an interest in securities held by
the joint venture for the purpose of the substantial holder
notification requirements in the Corporations Act 2001, and as such
gave a Notice of Initial Substantial Holder in relation to Alesco
Corporation Limited on 3 June 2002.

That notice contained some errors, and is replaced by the attached
Notice.

J Slatter GROUP GENERAL COUNSEL & COMPANY SECRETARY

Australia and New Zealand Banking Group Ltd ("ANZ") became a
substantial shareholder in Alesco Corporation Limited on 30/04/2002
with a relevant interest in the issued share capital of 2,212,132
ordinary shares (6.61%).