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Instalment Warrant Distribution - WMBIAA

Document date:  Fri 28 Feb 2003
Published:  Tue 04 Mar 2003 11:57:27
Document No:  201464
Document part:  A
Market Flag:  N
Classification:  Structured Products Distribution

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2003-02-28  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

+++++++++++++++++++++++++
Australia and New Zealand Banking Group Limited as issuer of
instalment warrants over ordinary shares in Alumina Limited (AWC)
under the Offering Circular dated 10 May 2001 (ASX Code: WMBIAA),
announces that the Record Time for the entitlements to the $0.13,
fully franked (100%) distribution for the WMBIAA instalment warrants
is 4 March 2003. This Record Time coincides with the record date for
the AWC ordinary shares dividend.

The WMBIAA instalment warrants will commence trading ex-distribution
on 11 March 2003. This coincides with the ex-dividend date for the
AWC ordinary shares.

The Security Trustee will cause distributions to be distributed to
Holders of WMBIAA instalment warrants in the form of cleared funds no
later than 5 Business Days after 8 April 2003.

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


J Koeppenkastrop
HEAD OF ANZ EQUITY DERIVATIVES