Australia and New Zealand Banking Group Ltd. — Capital/Financing Update 2007

Sep 17, 2007

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Company Secretary’s Office Australia and New Zealand Banking Group Limited Level 6, 100 Queen Street Melbourne VIC 3000 Phone 03 9273 6141 Fax 03 9273 6142 www.anz.com

18 September 2007

The Manager Company Announcements Australian Securities Exchange Level 10, 20 Bond Street Sydney NSW 2000

ANZ HOLDINGS (NEW ZEALAND) LIMITED CAPITAL RESTRUCTURE

In relation to the Notes issued by ANZ Holdings (New Zealand) Limited (the “ Company ”), which are stapled to preference shares issued by Australia and New Zealand Banking Group Limited (“ ANZ ”) to form ANZ StEPS, we advise that the directors of the Company have resolved to:

1. issue 2,002,000,000 redeemable preference shares of AUD1 each (the “ New RPS ”) to ANZ Funds Pty Ltd (“ ANZ Funds ”) in its capacity as a partner in a partnership controlled by ANZ; and

2. use the proceeds from the issue of the New RPS to redeem 2,002,000 redeemable preference shares of AUD1,000 each that were issued by the Company to ANZ Funds in 2005.

ANZ Funds is a wholly owned subsidiary within the ANZ group of companies. The impact of these transactions on profit and franking capacity at a group level is not expected to be material.

Yours faithfully

John Priestley Company Secretary