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2 July 2007

Disaster Relief for victims of floods in eastern Victoria

Westpac today announced a special disaster relief package to provide immediate financial relief to customers seriously affected by recent flooding in eastern Victoria.

"You can never fully prepare for a natural disaster. Our thoughts are with everybody affected by these floods," Westpac's Acting General Manager, Consumer Financial Services Victoria, David Hyde said.

"Westpac has put together a package which offers practical help by giving some financial relief."

Westpac's Head of Regional and Agribusiness Banking, Victoria, Rick Aylett, said affected business and agribusiness customers should contact their Relationship Manager to discuss the package.

"We understand the impact these floods can have on our customers' financial circumstances and we will be working closely with them to help them through this difficult period," Mr Aylett said.

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.