Westpac Securities Administration

RE: WESTPAC SECURITIES ADMIN LIMITED
USD 1,116,000,000.00
MATURING: 05-Jun-2033
ISSUE DATE: 14-Mar-2002
ISIN: DTC96121RAD4
                       
PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
06-Sep-2005 TO 05-Dec-2002 HAS BEEN FIXED AT 3.921000 PCT

DAY BASIS 90/360

INTEREST PAYABLE VALUE 05-Dec-2002 WILL AMOUNT TO:
USD 238.88 PER USD 24,369.45 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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