Westpac Securities NZ Limited


As Agent Bank, please be advised of the following rate determined on:11-Jul-2008
Issue               : Westpac Securities NZ Limited - Series 005
                      GBP 115,000,000 FRN Due 11 Oct 2012
ISIN Number         : XS0325335825
Common Code/        : 32533582
144A ISIN
Issue Nomin     GBP : 115,000,000.00
Period              : 11-Jul-2008 to 11-Oct-2008     Payment Date 14-Oct-2008
Number of Days      : 92
Rate                : 5.98375
Denomination     GB : 100,000.00     115,000,000.

Amount Payable
per Denomination    : 1,504.11       1,729,728.83


Bank of New York
Rate Fix Desk                           Telephone  44 1202 689580
Corporate Trust Services                Facsimille 44 1202 689601
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