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ANZ Announce A Decrease In Home Loan Interest Rate

Wednesday 14 November

For Immediate Release

ANZ Announce A Decrease In Home Loan Interest Rates

ANZ's Managing Director, Dr Murray Horn, today announced a decrease in variable home lending rates.

The standard variable home loan interest rate will decrease from 7.20% per annum to 6.70% per annum for new applications received from Wednesday, 14 November 2001 and for existing customers from Friday, 14 December 2001.

In addition to this change, ANZ's Easy Start introductory twelve month variable rate will decrease from 6.20% per annum to 5.70% per annum and the ANZ Money Saver variable rate will also decrease from 6.80% per annum to 6.30% per annum. These changes are also effective for new applications received from Wednesday, 14 November 2001 and for existing customers from Friday, 14 December 2001.

The ANZ FlexiPlus home loan interest rate will decrease from 7.20% per annum to 6.70% per annum for both new and existing customers from Friday, 14 December 2001.

Dr Horn also announced a new special 6 month fixed rate of just 4.95% for home loans approved by 14 December 2001.*

"These reductions follow a sharp fall in wholesale interest rates," Dr Horn said.

* conditions apply.

For further information please contact: ANZ External Relations Manager, Steve Fisher on (09) 374-4123 or 025 642 5823.

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