BW20030521000046  20030521T142937Z UTC


( BW)(WESTPACTRUST-SECS-NZ)(51LR) FRN Variable Rate Fix

    Business Editors
    UK REGULATORY NEWS

    LONDON--(BUSINESS WIRE)--May 21, 2003--

As Agent Bank, please be advised of the following rate determined on: 21-May-2003

Issue               : WestpacTrust Securities NZ Ltd
                      US$250,000,000 (MTN) FRN due 23 May 2005
ISIN Number         : XS0111581459
Issue Nomin     USD : 250,000,000.00
Period              : 23-May-2003 to 26-Aug-2003   Payment Date 26-Aug-2003
Number of Days      : 95
Rate                : 1.37
Denomination    US  : 500,000.00

Amount Payable 
per Denomination    : 1,807.64

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

   Short Name: Westpactrust Secs NZ
   Category Code: RC
   Sequence Number: 00005023
   Time of Receipt (offset from UTC): 20030521T150324+0100

    --30--ra/uk*

    CONTACT: Westpactrust Securities NZ Ld
 
    KEYWORD: NEW ZEALAND INTERNATIONAL ASIA PACIFIC
    INDUSTRY KEYWORD: BANKING
    SOURCE: Westpactrust Secs NZ

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