Australia and New Zealand Banking Group Ltd. — Capital/Financing Update 2008

Jul 23, 2008

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Company Secretary’s Office Australia and New Zealand Banking Group Limited 14/100 Queen Street MELBOURNE VIC 3000 www.anz.com

24 July 2008

Company Announcements Office

Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000

US Filing - American Depositary Receipts Ratio Change

The Bank of New York Mellon Corporation sponsors ANZ's American Depositary Receipt (ADR) Program in the United States of America.

ANZ has a Level 1 Sponsored ADR Program pursuant to which it is possible for ANZ’s ADRs to be traded in the over-the-counter securities market on the Pink Sheets electronic platform operated by Pink Sheets LLC in the United States of America.

With effect from 23 July 2008, the ADR ratio changed from one American Depository Share (ADS) representing five ANZ Ordinary Shares to one ADS representing one ANZ Ordinary Share. The ratio change will not entail a mandatory exchange of ADRs. ADR holders will receive four additional ADSs of ANZ for every one ADS of ANZ held. The ADSs presently held will not be called in for exchange and will automatically represent the new ratio. No action is required by the ADR holders.

Further, there will be no change in ANZ's US ticker symbol (ANZBY).

Documentation in respect of this was submitted to the US Securities and Exchange Commission yesterday and this announcement is made to comply with section 323DA of the Corporations Act 2001.

ADR Holders seeking information on their ADR holding should contact The Bank of New York Mellon Corporation on +1-212-815-3700 from outside the United States of America or toll free within the United States of America on 1-888-BNY-ADRS (1-888-269-2377).

Yours faithfully

John Priestley Company Secretary

Australia and New Zealand Banking Group Limited

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