41MF Hsbc Bk. 23

    


Westpac Banking Corporation



As Agent Bank, please be advised of the following rate determined on: 16-Oct-2008
Issue              � Westpac Banking Corporation - Series 587
                     USD 300,000,000.00 FRN Due 20-Oct-2016
ISIN Number        � XS0272075705
Common Code / 144A � 27207570
 ISIN
Issue Nomin USD    � 300,000,000.00
Period             � 20-Oct-2008 to 20-Jan-2009            Payment Date 20-Jan-2009
Number of Days     � 92
Rate               � 4.7125
Denomination USD   � 100,000.00            � 300,000,000.00       �

Amount Payable per � 1,204.31              � 3,612,916.67         �
 Denomination

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

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