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13 March 2007

Disaster Relief for victims of Cyclone George

Westpac today announced a special disaster relief package to assist customers in the Port Hedland area who have been seriously affected by Cyclone George in the last week.

"No one is prepared for a natural disaster. Our thoughts are with everyone affected by this cyclone," Westpac General Manager, Consumer Financial Services WA, Mark Stafford, said.

"We understand how situations like this can affect our customers' financial circumstances and during this time they do not need the additional burden of worries over financial commitments.

"Westpac has put together a package which offers practical help to our customers by giving some financial relief, and we encourage all affected customers to contact their local branch or call telephone banking as soon as possible so staff can tailor an appropriate solution."

The relief package offers:

• Affected customers with Westpac home loans may apply to defer repayments for up to three months.
• Affected businesses with existing loans can request loan restructuring without incurring the usual bank establishment fees.
• Affected credit card customers may request an emergency credit limit increase.
• Affected customers with Westpac personal loans can apply to refinance their loan at a discounted fixed interest rate.
• Westpac will waive interest penalties for affected customers wishing to withdraw term deposits.
• General insurance assessment and decisions will be fast tracked.