Investor Presentaiton

15 10 % - Corporate portfolio – positioned for upturn, targeting fee income System Business Credit Growth* Corporate Portfolio Revenue Mix LO 5 0 -5 -10 1990 1992 1994 1996 1998 • Capture expected stronger lending growth from SMB and middle market corporates • Focus on fee income in institutional business 28 Investor Presentation * Forecasts economics@anz 100% 90% 35 80% 43 70% 60% 50% 40% 65 30% 57 20% 10% 0% Today 2005 Aspiration Non-Interest Interest ANZ

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