Taking a closer look at

[Pages:8]Taking a closer look at

anz@work

A smarter banking package

anz@work

Welcome to anz@work ? a package available to you as an employee of a valued ANZ customer.

You are invited to take advantage of the anz@work package, which offers a wide range of benefits on our already competitive banking products. If you are studying, or have children who are, you may be interested in our student package. For more information, please refer to the contact details below. Simply call us on 0800 ANZ 2 YOU ? 0800 269 2 968 to make an appointment with your local branch, who will set everything up for you on the spot and answer any questions you may have. If you'd like more information about anz@work or our Student Package:

> call in to any ANZ branch > phone us on 0800 ANZ 2 YOU ? 0800 269 2 968 > visit anz@work at anz.co.nz

Benefits, fees and discounts referred to in this brochure are current as at 25 June 2007 and are subject to change and all other fees and Terms and Conditions for the products and services apply. 1

Home loans*

Variable and flexible rate home loans

0.50% interest rate discount for loans $50,000 and over

Loan approval fee

Nil

ANZ Flexiplus monthly fee Nil

Legal fee contribution

Minimum of $500 for loans $100,000 and over

Personal loans and UDC car loans*

New ANZ variable rate 0.50% interest rate discount standard personal loans Minimum loan $5,000

UDC car loans

4% interest rate discount on UDC standard car loans Minimum loan $5,000

Loan approval fee

Nil

Insurance

House, contents and car insurance

Take out two or more insurance policies, provided by TOWER Insurance Limited ? any mix of home, contents or car ? and receive up to 15% discount on your premiums on each policy.**

*Loan applications introduced through brokers, dealers or originators are excluded from this benefit.

**All other fees and Terms and Conditions for the above products and services apply. This discount does not apply to GST and government levies. This discount applies in addition to other discounts offered minimum premiums apply.

Security taken over the vehicle.

To be eligible for any benefits you must have an ANZ Everyday or ANZ Flexiplus account and your company salary (at least $500 per month) must be directly credited into one or more of these accounts.

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Banking

ANZ Night & Day.PIX card Complimentary first card

ANZ overdraft***

Pre-approved personal overdraft Income: $30,000 ? $59,999 : $500 overdraft $60,000 + : $1,000 overdraft

Application fee for

Nil

overdraft

***Customers must be 18 years of age or older and a New Zealand citizen or resident to be eligible for a pre-approved personal overdraft.

As a regular ANZ customer, no matter how you like to manage your money ? the ANZ Everyday Account is convenient, hassle free and good value. ANZ Everyday Account > Low $5 monthly administration fee > Unlimited free withdrawals using ANZ and

National Bank ATMs, EFTPOS, personal cheques, Internet, phone and branch banking.

This is a standard benefit available to all customers.

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anz@work Terms and Conditions

General

The following terms relate to and must be read in conjunction with the anz@work collateral. You agree to these terms when you acquire any of the benefits of the anz@work package. ANZ, part of ANZ National Bank Limited ("ANZ") reserves the right to add, cancel or amend the anz@work package or the components or benefits of the anz@work package at any time.

The contents of the anz@work brochure and these terms may be amended or revoked by ANZ at any time.

There is no intention to create legal relations between ANZ, any company with which ANZ has set up an anz@work program (the "Company") and the employees of the Company because of anything contained in the anz@work brochure or these terms.

Lending and credit criteria apply to all applications for credit. For home loan lending over 80% of a property's value, a low equity premium on a graduated scale will apply.

Full details of Terms and Conditions, current interest rates, and fees for all ANZ products and a copy of ANZ's current Disclosure Statement can be obtained from any branch of ANZ. Other than the anz@work discounts outlined in this document, ANZ's fees and charges still apply.

The Terms and Conditions of ANZ's products and services apply to the extent modified by these terms.

Eligibility

To receive anz@work benefits, you must be a permanent employee of the Company. Permanent employee means all persons employed by the Company on a permanent basis and excludes contract workers, consultants and casual staff members.

As proof of current employment status you are required to present a copy of your latest Company salary advice or your employment letter of offer.

Eligibility for the anz@work package ends once you cease to be employed by the Company. However, any benefits that you are receiving under the anz@work package at the time you cease employment with the Company will continue (with the exception of the insurance benefit which will end on the next renewal date following cessation of employment). In addition, to be eligible for any benefits, you must have an ANZ Everyday or ANZ Flexiplus account and your Company salary (at least $500 per month) must be directly credited into one or more of the aforementioned accounts. ANZ's account opening criteria apply to new customers.

To be eligible for any benefit in relation to a product or service under the anz@work package, you must comply with these terms and any other Terms and Conditions applying to that product or service.

A Company employee may take advantage of any offer publicly available to any ANZ customer in relation to any product or services for which benefits are available, instead of any benefit available under the anz@work package. Once that publicly available offer expires, or terminates, the benefits under the anz@work package will then apply provided that the Company employee's application for such benefits has been accepted by ANZ.

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Where a Company employee has elected to take advantage of the anz@ work package and they have a current non-anz@work package benefit that is greater than the benefit available under the anz@work package, then the anz@work package benefit only will apply.

Certain benefits available under the anz@work package are not exclusively available to Company employees and may also be made publicly available by ANZ.

Use of benefits

The products offered in the anz@work package can only be used for non-business purposes.

The benefits are available for the Company employee only and are not transferable and can not be exchanged for cash. Applications for the products for which benefits are available can be made in more than one name, as long as the Company employee is one of the applicants. Applications for products for which benefits are available under the anz@work package can be made in the name of a family trust or LAQC, provided that Company employee is a trustee or director of that entity.

anz@work benefits are not available in conjunction with any other discounts or special offers and are available for only one product of each type per employee. If an employee of the Company wishes to have more than one product of the same type, the additional products will be available on normal customer Terms and Conditions. This provision does not, however, apply to home loan products.

Benefits are available from the time a customer's application for them is accepted. They will not be backdated.

Where a Company employee holds any benefits offered by ANZ prior to 25 June 2007 under the previous anz@work package, the Company employee will continue to receive such benefits until either:

(a) their current banking arrangement expires; or (b) the Company employee elects to change or replace their existing

product or service.

At that time, the Company employee will be entitled to apply for the benefits under the anz@work package governed by these terms. Any new products acquired by that Company employee on or after 25 June 2007 will be subject to the anz@work package benefits governed by these terms.

Benefit terms

All paragraphs under the following headings are part of these terms:

> Home loans > Car loans by UDC > PIX card

> Personal loans > Insurance > Overdraft

Home loans

ANZ Standard Variable Rate Home Loan ANZ FlexiPlus Home Loan ANZ Fixed Rate Home Loan

anz@work interest rate discounts apply to both new and existing ANZ Standard Variable Rate and Flexiplus home loans and are only available for loans of $50,000 and over.

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anz@work loan approval fee benefits only apply for new home loan types listed above.

anz@work Flexiplus monthly fee benefit applies to both new and existing ANZ Flexiplus home loans.

anz@work legal fee contribution only applies for new home loan types listed above and are only available for loans of $100,000 and over.

The benefits will start from the time your application for the benefit is accepted and will not be backdated. ANZ will not reimburse a loan approval fee or ANZ Flexiplus monthly fees nor contribute to legal fees previously paid.

Applications introduced through brokers or originators are excluded from this benefit.

Personal loans

anz@work benefits apply to new personal loans only and are only available for loans of $5,000 and over.

Car loans by UDC

anz@work benefits apply to new applications only and are only available for loans of $5,000 and over.

If a broker or an authorised UDC Motor Vehicle Dealer introduces you, you're not eligible to participate.

UDC car loan terms are 1-5 years. A UDC Car Loan can only be used for the purchase of a car, van or utility. You are required to grant UDC a security interest in the vehicle to secure repayment of your loan.

UDC lending criteria apply to all applications for UDC credit. Lending fees will apply. Full details of terms and conditions, current interest rates and fees can be obtained from UDC Finance Limited or any branch of ANZ.

UDC Car Loans are provided by UDC Finance Limited. UDC Finance Limited is a wholly owned subsidiary of ANZ National Bank Limited.

Insurance

anz@work insurance benefits apply to new applications for house, contents and car insurance. The discount does not apply to GST and government levies.

This brochure only contains a summary of the features of ANZCover Insurance. ANZCover General Insurance is underwritten by TOWER Insurance Limited. A financial statement and copy of the policy document, which sets out full details of cover and exclusions, are available on request from any branch of ANZ. TOWER's usual underwriting criteria will apply to insurance applications. ANZ receives a commission from insurers on the sale of these plans. No member of ANZ National Bank Limited and its related companies or any other person guarantees TOWER Insurance Limited and its subsidiaries or any of the products issued by them.

PIX card

anz@work PIX card benefit is subject to image restrictions.

Overdraft

To be eligible for an anz@work pre-approved personal overdraft

benefit, the Company employee must be 18 years of age or over and

must be a New Zealand citizen or resident.

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ANZ, part of ANZ National Bank Limited A7530 06/07

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