Westpac Securities Administration

RE: WESTPAC SECURITIES ADMINISTRATION LTD
USD 1,372,700,000.00
MATURING: 19-Jul-2029
ISSUE DATE: 10-Jun-1998
ISIN: US96121RAA05

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
19-Jul-2029 TO 10-Jun-1998 HAS BEEN FIXED AT 2.810000 PCT

DAY BASIS 90/360

INTEREST PAYABLE VALUE 10-Jun-1998 WILL AMOUNT TO:
USD 63.05 PER USD 8,975.47 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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