51LR Westpac B Frn29

    Westpactrust Securities NZ Ld

As Agent Bank, please be advised of the following rate determined on:27-Feb-2006

Issue               : Westpac Trust Securities NZ Limited - Series 471
                      NZD 7,500,000 FRN Due 26 Nov 2007
ISIN Number         : XS0206079989
Common Code/        : 20607998
144A ISIN
Issue Nomin     NZD : 7,500,000.00
Period              : 27-Feb-2006 to 26-May-2006   Payment Date 26-May-2006
Number of Days      : 88
Rate                : 7.4725                       
Denomination    NZ  : 100,000.00         7,500,000.00                     

Amount Payable 
per Denomination    : 1,801.59           135,119.18                     

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 7438

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