GENERAL: WBC: Westpac Self-Funding Instalments over securities in IAG

3 Mar 2010 3:29 pm

WBC 03/03/2010 GENERAL

REL: 1529 HRS Westpac Banking Corporation

GENERAL: WBC: Westpac Self-Funding Instalments over securities in IAG

Re: Westpac Self-Funding Instalments over securities in Insurance Australia Group Limited (IAG)

Westpac Banking Corporation, as issuer of Self-Funding Instalments ("SFI") over the following securities, notifies of a distribution/entitlement in respect of those securities:

Distribution/Entitlement of Security

Securities Insurance Australia Group Limited (IAG) Distribution/Entitlement Ordinary dividend Amount $0.085 Franking percentage 100% Ex-distribution/Entitlement Date 3 March 2010 Record Date 10 March 2010 Payment Date 12 April 2010

As detailed in the applicable Product Disclosure Statement/s, Instalment holders direct that distributions be applied to reduce the Completion Payment of the SFI. In addition, any refund of prepaid interest that follows from this reduction will also be applied to reduce the Completion Payment. The new Completion Payment/s will become effective from the ex-distribution date. The following SFI will commence trading ex-distribution on the same date as the underlying securities are ex-distribution.

Resulting Change in Completion Payment for Self Funding Instalments

ASX Code Previous Completion Payment Distribution applied to reduce Completion Payment Interest Refund applied to reduce Completion Payment New Completion Payment IAGSWB $2.2251 $0.0850 $0.0017 $2.1384

For further information please contact Westpac Banking Corporation on 1800 990 107.

For and on behalf of Westpac Banking Corporation End CA:00192043 For:WBC Type:GENERAL Time:2010-03-03:15:29:12

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