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9 May 2006

Westpac provides unique financial solutions to Australian beef producers

Westpac has recently released a range of unique and tailored banking and financial solutions for the beef industry, built on the Bank's 185 year commitment to the Agribusiness sector in rural, regional and remote Australia.

Westpac Beef Solutions is the first of its kind in Australia – a package developed in conjunction with key industry bodies which addresses the needs of Australian beef producers by providing them with access to local Westpac Beef Industry Specialists, an improved credit process, and allowing them to choose and pick the products and services that are suitable to their individual business needs.

"The Beef industry is important to just about every part of rural Australia and Westpac is proud to have strong relationship with beef producers and the communities they support," Westpac Head of Agribusiness and Regional Banking, Graham Jennings, said.

"For Westpac, the most important aspect of Beef Solutions is our commitment to providing Australian beef producers with a dedicated team of specialists that can use their local knowledge and industry expertise to respond to specific customer needs.

"So a cattleman from Queensland, a grazier from Gippsland or a feedlot operator from Tamworth, who will obviously all have different requirements, can sit down with a Westpac beef industry specialist and find a solution which best fits their business," Mr Jennings said.

As part of Beef Solutions, Westpac has created new and improved processes and credit policies for beef producers, making it easier for them to access finance.

"The changes to our credit policy have been made as a direct response to both the evolving needs of Australian beef producers and recommendations from industry associations," Mr Jennings said.

There are also a number of discounts and concessions available on the products and services as part of the Beef Solutions package, with specific areas of focus around short and long terms business finance solutions; cash flow management solutions; international solutions; investment solutions; risk protection solutions; business information services; and personal banking solutions.

For more information talk to your local Westpac Agribusiness Banker or call your Beef Industry Specialist on 1300 730 408.