Westpactrust Securities NZ Ld

As Agent Bank, please be advised of the following rate determined on:09-May-2005

Issue               : Westpac Trust Securities NZ Limited - Series 306
                      NZD 158,000,000 FRN Due 07 Nov 2007
ISIN Number         : XS0157551994
Common Code/        : 15755199
144A ISIN           
Issue Nomin     NZD : 158,000,000.00
Period              : 09-May-2005 to 08-Aug-2005       Payment Date 08-Aug-2005
Number of Days      : 91
Rate                : 7.23
Denomination     NZ : 500,000.00
Amount Payable      : 9,012.74
per Denomination    

Rate Fix Desk                      Telephone   44(0) 1202 34 1286
Institutional Trust Services       Facsimile   44(0) 1202 34 1267
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