51LR Westpac B Frn29

    Westpactrust Securities NZ Ld

As Agent Bank, please be advised of the following rate determined on:08-Aug-2005

Issue               : Westpac Trust Securities NZ Limited - Series 306
                      NZD 158,000,000 FRN Due 7 Nov 2007
ISIN Number         : XS0157551994
Common Code/        : 15755199
144A ISIN           
Issue Nomin     NZD : 158,000,000.00
Period              : 08-Aug-2005 to 07-Nov-2005    Payment Date 07-Nov-2005
Number of Days      : 91
Rate                : 7.18
Denomination     NZ : 500,000.00
Amount Payable      : 8,950.41
per Denomination    


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

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