Westpactrust Securities NZ Ld

As Agent Bank, please be advised of the following rate determined on: 07-Nov-2003

Issue               : Westpac Trust Securities NZ Limited - Series 306
                      NZD 158,000,000 FRN Due 7 Nov 2007
ISIN Number         : XS0157551994
Issue Nomin    NZD  : 158,000,000.00
Period              : 07-Nov-2003 to 09-Feb-2004        Payment Date 09-Feb-2004
Number of Days      : 94
Rate                : 5.475
Denomination    NZ  : 500,000.00

Amount Payable 
per Denomination    : 7,042.01

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