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Minimal Impact To Bank From Industrial Action

Media Release
FOR IMMEDIATE RELEASE
May 13 2005

MINIMAL IMPACT TO BANK FROM INDUSTRIAL ACTION

Less than 5 % of the branches in the ANZ and National Bank network of over 300 branches were affected by Finsec’s industrial action this week.

“There has been very little action,” said General Manager of People Capital Andrew McSweeney, “and that action has involved a small number of staff and a very small number of branches. We understand many of our staff who are Finsec members have refused to participate and members are continuing to resign.”

“Despite this, Finsec continues to refuse to allow their members the right to paid on-site meetings so that they can all vote on the Bank’s offer.” We have continued to ask Finsec to do so, as we are confident that the union and Domestic Council have failed to demonstrate they have a mandate for their actions. Having a proper vote will answer that question, and would be in the best interests of our staff, the Bank and Finsec.

“The offer we have presented to staff includes 19 separate improvements and no reduction on existing terms and conditions. Finsec have described them as “the best in the industry.”

ENDS

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