BK59 Westpac 'a'2028

    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
22-Feb-2005 TO 19-May-2005 HAS BEEN FIXED AT 3.050000 PCT

DAY BASIS 86/360

INTEREST PAYABLE VALUE 19-May-2005 WILL AMOUNT TO:
USD 84.08 PER USD 11,539.78 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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