www.anz.com

Contact 03
Shareholder Update

Delivering sustainable profit growth

Handy Contacts

Important Dates
for Shareholders

Share Registry
Australia
Level 12565 Bourke Street
Melbourne VIC 3000
Australia
Telephone 1800 11 33 99
Facsimile +613 9611 5710
anzshareregistry@computershare.com.au

Date
Event
1 July 2003
Interim Dividend Payment
14 August 2003
Adelaide Shareholders’ Meeting
24 October 2003 Annual Results Announced
6 November 2003 Final Dividend Ex-Dividend Date
13 November 2003 Final Dividend Record Date
19 December 2003 Annual General Meeting& Final Dividend Payment

New Zealand
Private Bag 92119
Auckland 1020
New Zealand
Telephone 0800 174 007 / +64 9 488 8700
Facsimile +649 488 8787
Investor Enquiries +64 9 488 8777
United Kingdom
Telephone +44 870 702 0000
ANZ
Registered Office
Level 6
100 Queen Street
Melbourne VIC 3000
Australia
Telephone +613 9273 6141
Facsimile +613 9273 6142
Investor Relations
Level 22
100 Queen Street
Melbourne VIC 3000
Telephone +613 9273 6466Facsimile +613 9273 4899
investor.relations@anz.com$1141m$1102m
Sep 02Mar 03$1066mMar 02

$975m

$895m
Mar 01

Sep 01$885m
Sep 00Longer term aspiration> Sustainable earnings growth from an increasingly
strong portfolio of businesses> Domestic market will continue to be primary focus$817m

Near term> Expected earnings growth of around 8%
in 2003 and 2004
> Dividend growth greater than earnings
per share growth> Primary focus on domestic market–Investing in consumer businesses–Leveraging strong position incorporate businesses> Modest investments in low risk growth
options in Asia
> Continuing risk reduction

Mar 00Community$763m

Customers

Chairman’s review
Chief Executive Officer’s review
Banker of the Year
Management changes
Chief Financial Officer of the Year
Personal Banking Reorganisation
ANZ gives $250,000 to aid customers
E*TRADE Australia and ANZ extend alliance
ANZ and Metrobank
ANZ / Shanghai Rural Credit Cooperative
ANZ Breakfree rewards customers
ANZ Simplifies Small Business Accounts
ANZ in the Community
Australian financial literacy levels
ANZ Community Fund
Saver Plus
Seeds of Renewal
Tasmanian Forests
Volunteering
Handy Contacts
Important Dates for Shareholders

Sep 99

Staff

02
03
05
05
06
06
07
07
08
08
09
09
10
10
11
11
12
13
13
14
14

$717m

Shareholders

Mar 99

Shareholders

ANZ isfocussedon how it
continues
to createsustainableprofits andreturns forshareholders

01

Contents

A track record of strong profit growth–
NPAT excluding significant transactions

14

02

Chairman’s review
Dear Shareholders
Enclosed with this edition of Shareholder Contact isyour advice for the 2003 Interim Dividend. Directors
were pleased to increase the dividend by 12.8%
from 39 cents to 44 cents per share fully franked.
The increase in the dividend reflects ANZ’s strong
capital position and a solid financial result by
the Group during the first half of the year. ANZ’s
distinctive specialist business strategy has seen
most of our businesses perform strongly with many
producing double-digit earnings growth. We did
however have a disappointing result in our credit
cards business following a one-off charge associatedwith under accrual of loyalty points. We have taken
corrective action on this issue.
Costs were contained with our cost–to-income
ratio at 45.6% which places us among the mostefficient banks in the world. Risks continue to be wellmanaged. Specific provisions were down by 29% to$259 million. Our capital position is strong with theGroup’s adjusted common equity ratio unchanged at
5.7% which is at the upper end of our target range.
As we look to the period ahead, the Australianand New Zealand economies are expected toperform reasonably well, but the international
economy is weak and remains subject to anumber of uncertainties.
In this environment, ANZ is focussed on how it
continues to create sustainable profits and returns
for shareholders – today and over the medium term.
Much of this involves building on the competitive
advantages which exist in our specialist businesses.
This will include making selective growth investments
in our businesses. For example, in our personalbanking business, although we are making good
progress, we need to do more to deliver better service
to customers and grow our share of business.

ANZ Chairman Charles Goode

We have also taken early steps to develop a portfolioof modest growth options in East Asia. We alreadyhave a presence in this region and given it’s
importance to Australian trade, it is natural for us

to develop this further in the years ahead. Our
strategy is to build on that presence by developinga small number of partnerships with local banks
where we can make a contribution to their growthby contributing our capabilities. We have recently
signed a cooperation agreement with the Shanghai
Rural Credit Cooperative in China and we hope to
finalise plans to develop a credit card businesswith Metro Bank in the Philippines soon.
We are continuing to give a high priority tocreating a distinctive culture within ANZ as partof developing our long term competitive advantage
and in turn the sustainability of our businesses.
This involves reinforcing a performance culture
among our people while unleashing their energy
and creativity to grow the business for the benefitof shareholders, our customers and the community.
Overall, ANZ has recorded a good result in thishalf year. We are making good progress aroundour business priorities. We have produced a solid,
consistent financial performance and we are
creating growth options for the future.
We are confident that this will enable us to continue
to deliver value for you, our shareholders.
Charles Goode03

Chief Executive
Officer’s review
Stronger underlying performance offset by one-off
Cards charge
In the six-month period ending 31 March 2003,
ANZ recorded a net profit after tax of $1,141 million,
and earnings per share rose by 8.6% to 72 cents.
The interim dividend was increased by 12.8% to 44
cents, reflecting our strong capital position.

performances. Results from the ING Joint Venture were
subdued in difficult equity markets, while Consumer
Finance and Treasury recorded profit decreases.

> Growing value by creating a rich portfolioof specialised businesses

Here we aim to build on the momentum
Personal Banking Australia is worthy of special mentionof specialisation by actively managing thein the context that we are working to revitalise a
portfolio to optimise investment, sustainability,business that has not been a traditional strength ofgrowth and return. In particular, we want to
ANZ. Although earnings were not as strong as its sister
improve sales and revenue in Personal Banking.
businesses, we are investing heavily in this segment
This will be assisted by the recent creation of
Results Summary All comparisons with 2002 Interim Results
for the long run. The Restoring Customer Faith program,the Banking Product and Transaction Services
together with much of the Group’s technology
business, developing an increasingly “retail”> Net profit after tax – $1,141 million up 8.7% including investment, relates to upgrading our strategic capability
orientation, lifting service levels across thesignificant items (excluding significant items profit after in this area. Additionally we are currently experiencing
board and devolving more autonomy to local
tax was up 7.0%)
the early impact of reducing the prices of our everyday
CEO’s. Over time, we also expect to enhance> Earnings per ordinary share – 72 cents per share,banking accounts. These are now the simplest products
the performance of the Wealth Management
up 8.6%
offering the best deal in Australia, and we expect
business and to create growth options with
> Interim dividend – 44 cents up 12.8%
earnings growth to remain subdued in the near term,
local partners in Asia-Pacific where we have
> Return on equity – 20.3%, weakened from 21.6%
as we work to increase market share and generate a
distinctive capabilities.
but above 20% target
more sustainable strategic position in this segment.
> Cost-to-income ratio – Further reduced to 45.6%,> Become one of the most efficient and wellfrom 46.5%
Risks levels have been brought down
managed banks in the world> Specific provisions – $259 million down 29%
Risk levels have improved. Specific provisions were
ANZ is already amongst the world leaders in
In the half, we took a one-off charge of $27 million after down by 29% to $259 million, net non-accrual loans
productivity. Being at the lowest end of thetax in the Consumer Finance business related to thewere down 28%, and the economic loss provisioning
cost curve gives us real competitive advantage
under-accrual of loyalty points for past years. This was
charge as a percentage of risk-weighted assets
and flexibility no matter where we are in theinconsistent with ANZ’s normally high execution
was reduced.
economic cycle. To further enhance ourstandards and action has been taken to avoid similar
position, we must ensure ANZ is consistently
issues in future. Despite this, Consumer Finance has
The risk of our offshore energy and telecommunications
distinctive at first class execution. We will
been one of our fastest growing businesses duringexposures appears to have stabilised. Nonetheless,continue to focus on transforming the costs ofrecent years and the underlying growth in that business we are taking steps to further reduce exposure. While
our operations and technology infrastructure.
remains strong. Of significance, in the half we settled
some losses are inevitable, they are containable; andWe have substantially cut back our technology
a long-standing tax dispute with the Australian Taxation we continue to expect full year specific provisions toproject load and there are opportunities to
Office relating to equity product transactions, mainly
be less than our Economic Loss Provisioning for 2003.
simplify many of our major processes.
from the late 1990s. The settlement of $262 million
was met from ANZ’s existing tax provisions.
Looking forward there are four key priorities> Accelerate breakout leadershipand cultural momentum
We also ended the half with strong common equity> Leveraging real capabilities to build sustainable
and general reserves, and maintained our double
strategic positions
Over 10,000 staff have now participated in
A category credit rating.
our Breakout culture change program. We wantThis is about building on ANZ’s distinctive
this cultural change to become all-pervasive,
Our portfolio of specialist businesses is performing well strengths – the focus, energy and accountability
and for ‘financial management’ and ‘values’of specialisation; leveraging our strong productto become increasingly distinctive capabilities.
Our specialisation strategy is distinctive. Eight of our capabilities in mortgages, cards, transaction and
ANZ is different from other banks. This uniquenessseventeen specialist businesses delivered doubledeposit products to increase customer and market
will continue to find expression in many ways,
digit earnings growth and eleven delivered profit
share; exploiting our superior productivity; andbut none more profound than the rapidly
increases. Institutional, Corporate, Mortgages, Assetdeveloping ANZ’s emerging and distinctive “human
evolving culture of our organisation.
Finance and Asia Pacific all produced strongface” to increasingly earn the trust of the community.

> The domestic economies remain strong
in an uncertain global environment

04

The global economic environment remains
challenging; in part reflecting heightened levelsof geopolitical uncertainty and more recently
the potential effect of SARS. The US and world
economies are likely to be weighed down over the
medium-term by the continued after-effects ofthe collapse of the 1990’s equity market bubble.
Despite this relatively unfavourable external
environment, the Australian and New Zealandeconomies are still likely to record reasonablegrowth in 2003. The outlook for 2004 is lesscertain, but at this stage seems likely to be similar.
In a broader sense, ANZ’s performance in 2004
will, in part, be a function of the economic
environment, general levels of confidence andactivity and the extent to which slowing mortgage
growth is offset by business credit growth.
We remain on track for target earnings growthin full-year 2003 and for 2004

A reasonable result> Interim dividend up 12.8%> Cash EPS pre-significant items up 8.7%
> Good underlying business performance
offset by $27m Cards issue> Headline earnings up 8.7%
> Major progress in resolving risk issues> Clear and distinctive strategic approach–Specific provisions down29%–Tax settlement achieved> On track for 8% full-year earnings increase> Comfortable with similar 2004 outlook> Dividend growth higher than earnings* Excluding significant transactions

ANZ is different from otherbanks. This uniqueness willcontinue to find expression
in many ways
ANZ CEO John McFarlane

An important challenge is positioning theConsumer Finance business for the changes incredit card interchange levels announced by the
Reserve Bank of Australia. In this respect, weannounced the combined impact of changes incredit card interchange and increased costs ofloyalty programs are expected to cause a $40
million negative impact on earnings in 2004.
While the strategy for the Consumer Financebusiness for the period ahead is still evolving,
we are confident the impact won’t exceed this$40 million estimate.
With respect to dividend policy, given our strong
capital generation, as in this half, our current
view is that we are likely to pursue a higher
level of dividend growth than earnings growth,
resulting in an increase over the next few years
in the dividend payout ratio to an upper sixty
percent level.
All in all, we are confident overall growth in net
profit after tax for 2003 (excluding significant
transactions in 2002) will be in line with market
expectations of approximately 8%. Additionally,
notwithstanding the challenges of the global
economy and in credit cards, we believe there
are reasonable prospects of a similar performancelevel in 2004.

StaffBanker of the Year

Management
Changes

There’s merit inreal breakout,
being different,and having thecourage to do
it your way

For the third year in a row, John McFarlane wasnamed Banker of the Year by INSTO magazine.
This recognition comes from his peers acrossAustralian investment banks who, impressedby ANZ’s outstanding full year results, maintainthat John’s leadership underpins the bank’ssolid performance in a difficult year.

Managing Director, ANZ New Zealand
Mr Greg Camm, formerly Managing Directorof Mortgages, was appointed to the positionof Managing Director ANZ New Zealand effective
December 2002.

John said it was a great honour for ANZ’s 22,000
staff and recognised the work that had been
done to unleash talent in the organisation. ANZ’sunique strategy to separate the bank into 17
specialist business units and its subsequent
record performance were key factors in theaward. “I believe building a great company isabout building great businesses and then linking
them together,” commented John.
“What we’re trying to do is unleash the potentialof some very talented people by giving them alot of freedom to take their businesses where
they’ve got to go. There’s merit in real breakout,
being different, and having the courage to do it
your way.”

Top Interim Results Briefing
Left John McFarlane Banker of the Year
Right Peter Marriott CFO of the Year

Group General Counsel
Mr Tim L’Estrange was announced as our new
Group General Counsel effective July 2003.
Group Treasurer
Mr Michael Dontschuk was announced as our
new Group Treasurer effective May 2003.
General Manager, Western Australia
Mr Mark Crumby, formerly State Manager Esanda
was appointed to the position of General Manager
for Western Australia following the retirement of
Mr Mike O’Neill after almost 40 years of service
with ANZ.

05

It is a privilege
for me to workwith and leada wonderfulteam whose
expertise anddedication
make a realdifference
here at ANZ

Chief Financial
Officer of the Year

Personal Banking
Reorganisation

CFO Magazine named Peter Marriott Chief
Financial Officer of the Year for 2002 saying hehas demonstrated a commitment to disclosureand visibility in every part of the business, while
also turning ANZ into the industry cost andrevenue leader.

Changes were made in February to our internalorganisation of Personal Banking and WealthManagement to give more focus on growth priorities.

Mr Marriott, ANZ Chief Financial Officer, isheld in high regard by investors due to his
forthright and open approach to disclosureand the Bank’s own credibility.
Peter accepted this professional recognition
with the understanding that he was receiving
it on behalf of his entire CFO Units team. “It is a
privilege for me to work with and to lead such a
wonderful team whose expertise and dedication
make a real difference here at ANZ,” commented
Mr. Marriott.

> Banking and Transaction Services – a new
specialist business headed by Mr Craig Coleman
has been created to grow share in core transaction
and deposit products through ANZ and third
party channels> Personal Banking Australia – the metropolitan
retail branch and personal distribution network will
now be headed by Mr Satyendra Chelvendra (Chelvi).
This unit will work alongside existing Rural
Banking and Private Banking customer channels> Personal Advisory Services – the ANZ Financial
Advisor Network will work more closely with ING
Australia, ANZ’s joint venture with ING. Although
Personal Advisory Services remains 100% ANZ
owned, its financial results will be reported aspart of the ING Australia specialist business in
ANZ’s financial results
ANZ Managing Director Personal Banking and
Wealth Management, Mr Elmer Funke Kupper said,“These changes establish Banking and Transaction
Services as a growth business following our successover the past year in attracting more customers
through our new Access Accounts. They also allow
us to better leverage the ING Australia joint venture
by more closely linking it to advisor distribution.”06

Customers

ANZ gives $250,000
to aid customers

E*TRADE Australia and 07
ANZ extend alliance

ANZ gave $250,000 to customers impacted
by bushfires in Canberra

E*TRADE Australia and ANZ extend alliance

ANZ provided cash assistance to mortgage
customers whose homes had been destroyedby bushfires, especially those in Canberra, ACT.
The assistance involved a $10,000 cash grant wherea customer’s home had been totally destroyed
and $5,000 for homes partially destroyed throughstructural damage to the home or amenities.
The grants do not have to be paid back.
In addition to cash assistance, ANZ offered to

The alliance between E*TRADE Australia and ANZ
has been extended for another three years.
CEO of E*TRADE Australia, Mr Michael Deleray said,“We are pleased with the results of the first three
years and look forward to the opportunities andefficiencies to be gained by both parties under our
new three-year agreement.”
In the first three years of our alliance, ANZ delivered
close to 40,000 of the 108,000 E*TRADE customer
accounts and they continue as a primary source of
new customers for E*TRADE.

> Suspend repayments on all loans for three months> Waive fees associated with restructuringbusiness loans considered necessary due tobushfire impacts> Waive early withdrawal costs for term deposits> Consider temporary adjustments to customer
lending limits including credit cards
ANZ Local CEO for the ACT, Mr Paul Lanzon, said,“In the face of this enormous loss, it’s very
pleasing for all ANZ staff, particularly those in
Canberra, that we are able to personally assist
our customers with a cash gift and stand by themwhen they really need help.

ANZ will continue to market E*TRADE directly to its
online banking customers, staff, shareholders andall other account and card holders.
ANZ Managing Director, Banking Products andTransaction Services (formerly Managing Director,
Wealth Management) Mr Craig Coleman said, “As akey partner in ANZ’s wealth management strategy,
E*TRADE Australia and ANZ will continue to work on
initiatives to build upon the success of our first three
years together.”This is a great
partnershipfor ANZ

ANZ and Metrobank

ANZ / Shanghai Rural
Credit Cooperative

ANZ and Metrobank signed a Memorandum ofUnderstanding to establish a credit card joint
venture in the Philippines.

ANZ signed a Cooperation Agreement with the
Shanghai Rural Credit Cooperative Union. The
agreement establishes a framework for ANZ and
the Shanghai Rural Credit Cooperative Union to
exchange information with the aim of identifying
specific areas of possible cooperation in the future.

The agreement involves ANZ acquiring a stakein Metrobank Card Corporation, the credit card
subsidiary of Metrobank – the Philippines’
largest bank.
The joint venture combines Metrobank’s nationwide
and international branch network and exclusive
access to its extensive customer base with ANZ’stechnology and card expertise.
ANZ Managing Director Consumer Finance Mr
Brian Hartzer said, “This is a great partnershipfor ANZ. Metrobank is the leading bank in one
of South East Asia’s most significant economies.
The Joint Venture advances our specialist credit
card business and extends the Group’s growth
options in Asia at low risk.”

The Shanghai Rural Credit Cooperative Union is afinancial cooperative operating in the urban andsuburban areas of Shanghai. The group is currently
undergoing a restructure and intends to becomea fully licensed bank.
The Shanghai Rural Credit Cooperative Union brings
together some 230 cooperatives, with more than
300 branches. It has one million retail customers
and around 150,000 business customers. Total
assets are approximately A$17 billion.
ANZ Group Managing Director Strategic
Development, Mr Peter Hawkins said, “TheShanghai Rural Credit Cooperative Union’s
established customer base and network inShanghai and ANZ’s technology and productexpertise could provide joint opportunities in
the medium term. The agreement provides theframework to explore those opportunities with theUnion in one of the world’s fastest growing markets.”

The agreement provides the framework to
explore those opportunities with the Union
in one of the world’s fastest growing markets

08

ANZ Breakfree
rewards customers

ANZ Simplifies Small
Business Accounts

ANZ Breakfree is a new banking package for homebuyers and property investors who want to savemoney by consolidating their banking.

ANZ announced changes to its small business
transaction accounts providing a simpler, easy-tounderstand fee structure and improved accountstatements for customers.

ANZ Breakfree offers special discounts on a rangeof financial products including borrowing, day-today banking, insurance and investment products> Up to 0.5% p.a. discount on up to five standard
variable rate ANZ Home, Residential Investment
and Home Equity Loans and Equity Manager
facilities with an individual value between$150,000 and $249,999; 0.6% p.a. discountfor loans of $250,000 or more
> No loan approval fee or administration charges
on up to five selected home, residential investment
property and home equity loans> No annual fee or reward program fee on an
ANZ Gold credit card – excluding the Spherereward program> No ANZ transaction fees or monthly accountservicing fees on an ANZ Access Advantage
account or ANZ One mortgage offset account> Discounted premiums for building, home andcontents and mortgage protection insurance> 0.35% p.a. discount off the standard variable
rate for ANZ Margin Lending products
To be eligible for the ANZ Breakfree package,
customers need to take out mortgage lending with
ANZ of at least $150,000, an ANZ Gold credit card
and an ANZ transaction or offset account.
To apply for the ANZ Breakfree package
call 1800 035 500 or visit your local ANZ branch.

The new account structure follows ANZ’s Customer
Charter promise to have accounts that are simple
and transparent.
The changes include> Lifting restrictions on the number of free faceto-face transactions allowing customers to use
the majority of their free transactions throughany channel> Rationalisation of six different types of transaction
fees to just three easy-to-understand fee
categories – Staff Assisted, Paper and Electronic> Lower overall fees for the majority of small
businesses, especially for those using
electronic banking> Improved account statement giving customers
more detail on their transaction activities making
it easier for them to understand the costs andwaivers applied to their accountTo assist customers in determining the mostsuitable business transaction account ANZ has also
introduced a new online cost management tool
called Product Selector which includes a ‘Fee
Minimiser’ feature to help customers reduce theirbank fees. Product Selector is located under Small
Business Solutions on www.anz.com.

09

Community

Australian financial
literacy levels

ANZ in theCommunity

In May ANZ released the results of Australia’s firstnational survey of adult financial literacy, which
provides a snapshot of Australians’ ability to makeinformed judgements and effective decisions
about the use and management of their money.

ANZ is committed to earning the trust of
the communities in which we operate.
We hope to play a role in bringing valuable
programs to communities across Australia. We
consider community investment to be more thanjust the donation of money; genuine community
involvement is demonstrated by the contributionof our people’s time, skills and sharing of expertise.
Our recent research into adult Australian financial
literacy levels, Saver Plus, the ANZ Community
Fund and Seeds of Renewal are all examples
of how ANZ is working closely with communities
to make a positive impact.

The research involved the development of aframework for measuring financial literacy inAustralia, a quantitative survey of 3,500 adults
and in-depth qualitative research.
The research uncovered some positive
findings including:> A high level of banking inclusion in Australia
compared to other countries> Most people have a thorough knowledgeof payment options> The majority of people understand they must prioritise
their needs to balance income and expenditure

10

By empowering people with financial skills,
knowledge and information, they are better
placed to make informed decisions and avoid
being misled on financial matters.
This research provides, for the first time, benchmarks
for the ongoing measurement of financial literacy
across the Australian population. We will update
the financial literacy research every two years to
track progress as we strive for a more financiallyliterate Australia.
These steps underscore our responsibility andcommitment to address the financial literacy needsof our customers and communities with better
communication, simpler products, aware staff
and an accessible and suitable learning program.

However, the findings also revealed that there areconsiderable issues in Australian financial literacy.
These issues include:

ANZ iscommitted
to earning
the trust of thecommunities
in which
we operate> Understanding of investment, superannuation
and retirement planning> A strong association between socio-economic
status and financial literacy, with low-income
earners a vulnerable section of the community
Following the research outcomes, ANZ hascommitted to a number of initiatives to improvefinancial literacy in Australia. Firstly, we areintegrating the learnings from the survey into
our business operations. We are taking steps toimprove overall communication with customers
and increasing training opportunities for Contact
Centre staff to assist customers who may needassistance to better manage credit. We have also
made an early commitment to use comparison
rates for all consumer lending products.
In addition to these enhancements to ourbusiness processes, we will develop a partnershipwith appropriate community agencies to deliver
an adult learning program to help those mostin need.

Below Financial Survey Launch

Saver Plus

ANZ Community Fund

Saver Plus is Australia’s first matched savings
program designed to assist low-income earners
build assets and move toward self sufficiency andlong-term prosperity.

A sample of the projects, that vary in natureand size, supported across Australia include:

Since October 2002, ANZ and the Brotherhood of
St Laurence have been working together to develop
the pilot program, which commenced in Frankston,
Victoria in June 2003.

The ANZ Community Fund gives our staff thefreedom and financial backing to go into thecommunity and identify opportunities where they
can truly make a difference to the lives of others.
The Fund is all about getting to the heart of whatreally matters for local communities, understanding
what’s needed and rolling up our sleeves to assist
communities to deliver programs of value. It’s notabout sponsorship or simply handing over a cheque.

Saver Plus will invite eligible low-income earners
to nominate an educated-related savings goal andonce this goal is achieved every dollar saved will be‘matched’ with an additional two dollars by ANZ.
Participants will be supported through the programwith counselling and mentoring and will be able toimprove their financial literacy through a dedicatedadult learning program.

Introduced in May last year, the ANZ Community
Fund pilot has been expanded to more than 40
locations around Australia – from branches incity suburbs to those in remote rural areas. Staff
are very satisfied with the introduction of theFund – they can see how their involvement at
the grassroots is providing local solutions tolocal issues.

Staff in Newcastle, New South Wales worked
with local not for profit organisation, Life
Activities, to host a Christmas Party for people
in their community who have a disability. The
ANZ Community Fund funded the party via a raffle
run by ANZ staff. All who attended the party
enjoyed a Dolphin Watching Cruise and lunch at
Port Stephens.

To be eligible for the program, applicants musthave a low-income health care card and havechildren transitioning from primary to secondary
school or middle to high school at the end of the
18-month pilot. This transition period has been
identified as one of the most expensive phases
in a child’s education, so Saver Plus has beendeveloped to help parents form a savings habit
in preparation for this time.

In February this year, we commissioned theassistance of Professor David Birch, Director of
the Corporate Citizenship Research Unit at Deakin
University, to conduct a review of the program.

Alarmed at the high number of youth car accidents
and fatalities in the Monbulk, Victoria area, staff
worked with Monbulk College to help deliver a roadsafety information evening and workshops for year
10 learner drivers.

11

When part of Hurstbridge Primary School in
Victoria caught fire on New Years Day 2003,
ANZ staff were quick to respond offering $5,000
to help restore class-rooms, manpower at aworking-bee to clear debris and stock temporaryclassrooms, and 40 obsolete ANZ computers.

Professor Birch noted that the ANZ Community
Fund has demonstrated significant potential tobring long-term benefits to ANZ’s communities
and improve the morale of ANZ staff.

The pilot will be trialed in Frankston and
Shepparton in Victoria and Campbelltown in New
South Wales. In each pilot site, the program will
be managed by a local community agency thatis familiar with the circumstances and needsof participants.

…identify opportunities where
our staff can truly make adifference to the lives of others

Seeds of Renewal
ANZ has worked with the Foundation for Rural andRegional Renewal (FRRR) to create Seeds of Renewal,
a program that helps lift community ‘spirit’ incommunities severely affected by drought.
Seeds of Renewal was a small grants program,funded by ANZ, offered last summer tocommunities with a population of 10,000
people or less in declared Commonwealth
Government Exceptional Circumstance areas.
With the aim of rekindling community spirit inaffected towns, community organisations could
apply for funding for projects that would bringsocial, environmental, economic, health,education, community welfare or culturaldevelopment benefits to their town.
In total, 32 community organisations throughout
New South Wales, Queensland and Western
Australia have shared in $150,000 worth offunding. ANZ staff have helped celebrate thesuccess of many organisations – delivering thefunding and participating in a number of the
supported projects.
This program shows the varying needs of rural
Australian communities with supported projects
ranging from organizing a rural fire muster toupdate volunteer firefighter skills in Tara,
Queensland to refreshing town facilities in
Pooncarie, New South Wales.

Top Tara’s Wieambilla South Rural Fire Brigade members
and ANZ staff
Centre left ANZ staff work with Life Activities
to organise a Christmas party
Centre right ANZ staff work with Monbulk College to help
deliver a road safety message
Bottom Pooncarie residents and ANZ staff in front of thetown hall. Soon to receive a coat of paint.

12

Tasmanian Forests

Volunteering

ANZ gained a better understanding of the debate
about forestry in Tasmania after a recent visit by
the Chairman and Senior Management to Tasmania.
The visit follows questions from shareholders at
ANZ’s 2002 Annual General meeting in December.

The Volunteer program, introduced in July 2001,
which offers paid leave for all staff to volunteer theirtime to the community, continues to be a successwith our staff and the community.

The recent third party public review of the
Tasmanian Regional Forest Agreement examines
the progress against the conservation objectives
set by that Agreement between the Federal andState governments. Released in December 2002,
the review followed a wide ranging consultation
with stakeholders and found that substantial
progress in implementing the Regional Forest
Agreement had been made.

Below ANZ Chairman Charles Goode and Senior
Management visit Tasmanian forests

13

Across Australia and New Zealand, staff havecontributed over 14,000 volunteer hours to our
local communities and the count continues to rise.

The review also recommended greater transparency
and dissemination of publicly available information,a review of the self-regulatory aspects of theForest Practices System and legislative action tobetter support the Agreement's implementation.
Public debate about conservation issues is not
new nor is disagreement about the appropriatebalance of forest conservation and economic needs.
The ultimate arbiter of those disagreements is thecommunity, through elected representatives toFederal and State parliaments. Parliament is ourcommunity’s “bargaining table” and it provides
our elected representatives and all stakeholders
a say in what laws govern our society.
ANZ is currently examining its own social andenvironmental sustainability policies and will
later this year release details of its progress.

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