Redemption of USD Perpectual Cap. Securities Issued by ANZ

Document date:  Mon 17 Feb 2003
Published:  Mon 17 Feb 2003 18:59:11
Document No:  200974
Document part:  A
Market Flag:  N
Classification:  Issued Capital - Other 

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2003-02-17  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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We refer to the US$258,750,000 Perpetual Capital Securities issued by
ANZ on 4 March 1993 under:

* the Indenture dated 1 March 1993 granted by ANZ to the Bank of New
York (as Trustee); and

* the prospectus relating to the Capital Securities dated 25 February
1993.

ANZ will redeem the Capital Securities as set out below:

1. the Redemption Date will be 4 March 2003;

2. all of the outstanding Capital Securities shall be redeemed on the
Redemption Date;

3. the Redemption Price per Capital Security will be $25 plus accrued
and unpaid interest to the Redemption Date calculated in accordance
with the Indenture and the Prospectus;

4. the place where each such Capital Security is to be surrendered
for payment of the Redemption Price is THE BANK OF NEW YORK, 21W, 101
BARCLAY ST, NEW YORK NY 10286;

5. the CUSIP number with respect to the Capital Securities is
052528403.

The Trustee and Paying Agent in relation to the Capital Securities is
The Bank Of New York, 21W, 101 Barclay St, New York, NY 10286.

Please contact Mark Anwender at ANZ with any investor questions on
613 9273 2357.