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Instalment Warrant Distribution - NABIAA

Document date:  Thu 15 May 2003
Published:  Thu 15 May 2003 12:25:59
Document No:  204337
Document part:  A
Market Flag:  N
Classification:  Structured Products Distribution

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2003-05-15  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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NABIAA INSTALMENT WARRANTS ISSUED BY ANZ ANNOUNCEMENT OF RECORD TIME
FOR ENTITLEMENT TO NABIAA DISTRIBUTION

Australia and New Zealand Banking Group Limited as issuer of
instalment warrants over ordinary shares in National Australia Bank
(NAB) under the Offering Circular dated 10 May 2001 (ASX Code:
NABIAA), announces that the Record Time for the entitlements to the
$0.80, franked (100.00%) distribution for the NABIAA instalment
warrants is 13 June 2003. This Record Time coincides with the record
date for the NAB ordinary shares dividend.

The NABIAA instalment warrants will commence trading ex-distribution
on 06 June 2003. This coincides with the ex-dividend date for the NAB
ordinary shares.

The Security Trustee will cause distributions to be distributed to
Holders of NABIAA instalment warrants in the form of cleared funds no
later than 5 Business Days after 02 July 2003. 

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



J Koeppankastrop
Head of ANZ Equity Derivatives