FRN Variable Rate Fix
November 20 2003 - 9:00AM
UK Regulatory
Westpactrust Securities NZ Ld
As Agent Bank, please be advised of the following rate determined on: 20-Nov-2003
Issue : Westpac Trust Securities NZ Ltd
US $250,000,000 (MTN) FRN Due 23/5/05
ISIN Number : XS0111581459
Issue Nomin USD : 250,000,000.00
Period : 24-Nov-2003 to 23-Feb-2004 Payment Date 23-Feb-2004
Number of Days : 91
Rate : 1.27
Denomination US : 500,000.00
Amount Payable
per Denomination : 1,605.14
Institutional Telephone 44(0) 1202 34 1286
Trust Services Facsimile 44(0) 1202 34 7438