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Instalment Warrant Distribution - WBCIAA

Document date:  Thu 15 May 2003
Published:  Thu 15 May 2003 15:54:16
Document No:  204352
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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Australia and New Zealand Banking Group Limited as issuer of
instalment warrants over ordinary shares in Westpac Banking
Corporation (WBC) under the Offering Circular dated 10 May 2001 (ASX
Code: WBCIAA), announces that the Record Time for the entitlements to
the $0.38, franked (100.00%) distribution for the WBCIAA instalment
warrants is 12 June 2003. This Record Time coincides with the record
date for the WBC ordinary shares dividend.

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

The Security Trustee will cause distributions to be distributed to
Holders of WBCIAA instalment warrants in the form of cleared funds no
later than 5 Business Days after 04 July 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