41MF Hsbc Bk. 23

    

Westpac Banking Corporation


As Agent Bank, please be advised of the following rate determined on:17-Jul-2008
Issue              : Westpac Banking Corporation - Series 587
                     USD 300,000,000 FRN Due 20 Oct 2016
ISIN Number        : XS0272075705
Common Code /      : 27207570
144A ISIN
Issue Nomin USD    : 300,000,000.00
Period             : 21-Jul-2008 to 20-Oct-2008    Payment Date 20-Oct-2008
Number of Days     : 91
Rate               : 2.99625
Denomination USD   : 100,000.00            300,000,000.00

Amount Payable     : 757.39                2,272,156.25
per Denomination

Bank of New York
Rate Fix Desk                              Telephone       44 1202 689580
Corporate Trust Services                   Facsimile       44 1202 689601

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