Australia and New Zealand Banking Group Ltd. — Major Shareholding Notification 2008

May 22, 2008

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23 May 2008

Company Announcements Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000

Company Secretary Macquarie Countrywide Trust Fax: (02) 8232 6510

Macquarie Countrywide Trust - Disclosures regarding shareholding interests

We refer to the substantial holding notice given by Australia and New Zealand Banking Group Limited ( ANZ ) on 13 May 2008, in connection with its interests in Macquarie Countrywide Trust.

As disclosed in the substantial holding notice, ANZ has an interest in securities in Macquarie Countrywide Trust in which ING Australia Limited has a relevant interest, as a result of ANZ's voting power in ING Australia Limited exceeding 20%.

ING Australia Limited and entities controlled by it have made some of those securities available to ANZ to be loaned out under ANZ's securities lending operations. The relevant securities were identified in the substantial holding notice previously provided by ANZ as comprising a separate parcel of securities in which ANZ had a relevant interest, thereby overstating ANZ's interests in Macquarie Countrywide Trust.

ANZ's actual interest in Macquarie Countrywide Trust as at 27 March 2008 was less than 5%. Accordingly, the substantial holding notice given by ANZ on 13 May 2008 should be disregarded. As at the date of this announcement, ANZ does not have a substantial holding in Macquarie Countrywide Trust.

Yours faithfully

John Priestley Company Secretary