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Media Release

For Release: 2 November 2011

ANZ cuts variable mortgage rates by 0.25%pa


ANZ today announced it will lower interest rates for variable rate mortgages by 0.25%pa following yesterdays decision by the Reserve Bank of Australias to reduce the Cash Rate. ANZ CEO Australia Philip Chronican said: Were acutely aware that many of our customers are doing it tough and despite higher funding costs were pleased to be able to pass on the reduction in the Cash Rate in full. Effective 14 November 2011, ANZs new standard variable rate will be 7.55%pa (7.65%pa comparison rate)1. For media enquiries contact: Stephen Ries Senior Manager Media Relations Tel: 03-8654 3659 or 0409-655 551 Email: stephen.ries@anz.com

1 Comparison Rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. These rates are for secured loans only.

Australia and New Zealand Banking Group Limited

ABN 11 005 357 522