Westpac Securities Administration

RE: WESTPAC SECURITIES ADMINISTRATION LIMITED
    USD 883,900,000.00
    MATURING: 19/May/2030
    ISSUE DATE: 13/May/1999
    ISIN: US96121RAC60

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
19/May/2005 TO 19/Aug/2005 HAS BEEN FIXED AT 3.470000 PCT.

DAY BASIS 92/360

INTEREST PAYABLE VALUE 19/Aug/2005 WILL AMOUNT TO
USD 94.72 PER USD 10,681.05 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881.
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