Westpac Securities Administration

RE: WESTPAC SECURITIES ADMINISTRATION
    USD 350,500,000.00
    MATURING: 16/Dec/2030
    ISSUE DATE: 15/Jul/1999
    ISIN: XS0099708199

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
15/Jun/2005 TO 15/Sep/2005 HAS BEEN FIXED AT 3.660000 PCT.

DAY BASIS 92/360

INTEREST PAYABLE VALUE 15/Sep/2005 WILL AMOUNT TO:
USD 78.00 PER USD 8,339.65 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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