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Becoming a substantial holder for PWR

Document date:  Fri 30 Aug 2002
Published:  Fri 30 Aug 2002 18:06:48
Document No:  273256
Document part:  A
Market Flag:  N
Classification:  Becoming a substantial holder

POWERLAN LIMITED                              2002-08-30  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.

According, ANZ gives this notice of initial substantial holding in
respect of Powerlan Limited .

T Paine 
COMPANY SECRETARY

Australia and New Zealand Banking Group Limited ("ANZ") became a
substantial shareholder in Powerlan Limited on 30/04/2002 with a
relevant interest in the issued share capital of 35,737,989 ordinary
shares (8.89%).