41MF Hsbc Bk. 23

    

Westpac Banking Corporation


As Agent Bank, please be advised of the following rate determined on: 18-Oct-2007

Issue               : Westpac Banking Corporation - Series 587
                      USD 300,000,000.00  FRN Due 20-Oct-2016
ISIN Number         : XS0272075705
Common Code/        : 27207570
144A ISIN
Issue Nomin     USD : 300,000,000.00
Period              : 22-Oct-2007 to 22-Jan-2008          Payment Date 22-Jan-2008
Number of Days      : 92
Rate                : 5.39
Denomination USD    : 100,000.00                  300,000,000.00

Amount Payable
per Denomination    : 1,377.44                    4,132,333.33

Bank of New York
Rate Fix Desk                           Telephone 44 1202 689580
Institutional Trust Services  Facsimille          44 1202 689601

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