RNS Number:5069N
Westpactrust Securities NZ Ld
21 November 2001


As Agent Bank, please be advised of the following rate determined on: 
21-NOV-2001.

Issue             :  WESTPAC TRUST SECURITIES NZ LTD
                     US$250,000,000 (MTN) FRN DUE 23 MAY 2005
ISIN NO           :  XS0111581459
Issue Nominal USD :  250,000,000.00
Period            :  23-NOV-2001  To  25-FEB-2002    Payment Date  25-FEB-2002 
Number of Days    :  94
Rate              :  2.23
Denomination US   :  500,000.00
Amount Payable
Per Denomination  :  2,911.39

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



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