QAN Entitlement Issue - QANIAA

Document date:  Thu 22 Aug 2002
Published:  Fri 23 Aug 2002 08:46:07
Document No:  193736
Document part:  A
Market Flag:  N
Classification:  Structured Products Adjustment 

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2002-08-22  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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QANIAA INSTALMENT WARRANT ISSUED BY ANZ ANNOUNCEMENT FOR THE QANTAS
NON-RENOUNCEABLE ENTITLEMENT ISSUE

Australia and New Zealand Banking Group Limited is the issuer of
Instalment Warrants over ordinary shares in Qantas Airways Limited
(QAN) under the Offering Circular dated 10 May 2001 (ASX Code
QANIAA).

On 21 August 2002 Qantas announced a pro-rata non-renounceable
entitlement offer with which no indicative issue ratio and indicative
entitlement price were specified. It is certain though, that the new
shares will not be entitled to the $0.09 final dividend payable on 2
October 2002. The terms of the offer are due to be announced prior to
the commencement of trading on an ex-entitlement basis on Friday 23
August 2002.

Holders of ANZ issued Qantas Airways Limited instalment warrants will
be advised via mail regarding their eligibility to participate in the
non-renounceable entitlement issue through their holding of QANIAA
instalments.

The QANIAA instalments will commence trading on an ex-entitlement
basis on Friday 23 August 2002. This date coincides with the
ex-entitlement date for the underlying ordinary shares.

The QANIAA Completion Payment and Underlying Parcel will remain
unchanged.

Defined terms used in this announcement have the meanings given to
them in the Offering Circular dated 10 May 2001.

J Kooppenkastrop
HEAD OF EQUITY DERIVATIVES