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Brower Piven Encourages Investors Who Have Losses in Excess of $150,000 From Investment in Australia and New Zealand Banking Group Limited to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the February 27, 2009 L


BALTIMORE, MD -- (Marketwire) -- 01/16/09 -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the American Depositary Receipts of Australia and New Zealand Banking Group Limited ("ANZ" or the "Company") (PINKSHEETS: ANZBY) during the period between March 2, 2007 and July 27, 2008, inclusive (the "Class Period").

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period the extent of the risks arising from its loans to Opes Prime Group Limited, an Australian stock brokerage firm that lent money to customers on margin. According to the complaint, after the Company revealed losses stemming from the previously undisclosed risk, the value of Australia and New Zealand Banking Group Limited ADRs declined significantly.

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than February 27, 2009 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You may contact Brower Piven (through [email protected] or 410/986-0036) to answer any questions you may have in that regard.

If you have suffered a net loss for all transactions in Australia and New Zealand Banking Group Limited securities during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at [email protected], by calling 410-986-0036, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
Baltimore, Maryland
410/986-0036
Email Contact

Marketwire Jan 162009 6:03PM