1. Metrobanking Elizabeth Proust Managing Director Australia and New Zealand Banking Group Limited 24 August 2001 Metrobanking

2. Page 2 Putting the customer first – focusing on the basics Performance Our key focus is on “putting customers first” Cultural change is important The branch network is a strategic asset Internet and technology leadership Summary

3. Page 3 Australia & NZ 514 branches, 837 ATMs, 2 call centres anz.com Consumer products 2.5m customers 4288 FTE Metrobanking

4. Page 4 Mar-00 Sep-00 Mar-01 Operating IncomeProfit After Tax Mar-00 Sep-00 Mar-01 Efficiencies have driven profit growth $m Mar-00 Sep-00 Mar-01 Mar-00 Sep-00 Mar-01 FTECost Income % * Post Wealth segmentation

5. Page 5 Achievements - past 12 months Industry recognition - numerous awards for mass retail specialisation –Savings Institution of the Year; –On-line Bank of the Year; –Best Finance & Investment website; –Best Internet Bank in Australia and New Zealand; Internet - Doubling customers; strong customer satisfaction & retention Phased roll-out of customer, staff and technology platforms Embedded sales culture - continued sales productivity per FTE Senior Executive team in place Managers on individual contracts

6. Page 6 Continue to lead the market in internet Customer satisfaction levels exceed 89% Retention - churn reduced by over 80% Customers more than doubled in the last year, from 420,000 to > 900,000 Internet value transactions now significantly exceed phone banking transactions Value transactions exceed 1m per month in Australia with a total value > $1 billion. Total Value Transactions - Australia Take-up as a % of customer base* Australia Internet Phone *Source: Roy Morgan Main relationships

7. Page 7 Metro’s strategic platform CustomersOur peopleInfrastructure Sales & service convenience service excellence simplified pricing customer choice complaint resolution Leadership staff satisfaction value leadership skill investment reward empowerment Integrate and maximise the strategic value of our branch network and customer access points Strategy Platforms Target Outcomes Critical to the PFS strategy A strategic asset Optimise locations Continuing eTransformation

8. Page 8 Putting customers first Launching customer charter Having customers as our advocates Increasing customer satisfaction Simplifying our products Delivering CRM to the frontline Wallet Penetration % Peer average Closing the gap – our customers

9. Page 9 Closing the gap – our people Driving cultural change Breakout Having our people as our advocates Empowerment Incentive program Freeing up our people to serve our customers Staff satisfaction

10. Page 10 The network – leveraging a strategic asset Branch network optimisation model Upgrade the network Continue shift of simple transaction to e-platforms & leverage internet leadership New sales and service front- end CRM 120 121342 Number of potential customers within 2km of Branch - Sydney No. of branches

11. Page 11 Summary Reposition the network as a strategic asset Key strategic platforms being put in place Strategy to create value and target growth Refocus on customer service and sales excellence Differentiate with Breakout program and up skilling staff Goals Grow NPAT by 10%+ over 2 years Grow deposits by 15%+ over 2 years Lift customer & staff satisfaction to 80%+ in 3 years