BK59 Westpac 'a'2028

    Westpac Securities Administration

WESTPAC SECURITIES ADMINISTRATION LTD - XS0080699050 & XS0080699308

Please be advised of the following Call Option taking place:

WESTPAC SECURITIES ADMINISTRATION LTD

USD 499,000,000.00 CLASS A MORTGAGE BACKED FRN DUE 19.12.2028

ISIN: XS0080699050

WESTPAC SECURITIES ADMINISTRATION LTD

USD 17,600,000.00 CLASS B MORTGAGE BACKED FRN DUE 19.12.2028

ISIN: XS0080699308

PLEASE BE ADVISED THAT THE ISSUER HAS EXERCISED THEIR OPTION TO REDEEM PRINCIPAL
AND ACCRUED INTEREST OUTSTANDING IN ACCORDANCE WITH CONDITION 5(o) OF THE TERMS
AND CONDITIONS OF THE NOTES FOR VALUE 20TH DECEMBER 2004.

PLEASE ENSURE THAT YOU ADVISE YOUR PARTICIPANTS OF THIS EARLY REDEMPTION OPTION.

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