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19 June 2008

Westpac responds to gas crisis in WA

Westpac today announced a special relief package to assist customers seriously affected by the gas crisis in Western Australia.

"The ongoing gas crisis has the potential to affect a large number of businesses and residents across the state," Westpac General Manager, Consumer Financial Services Western Australia, Mark Stafford said.

"Westpac understands how this crisis can affect our customers' financial circumstances and we have put together a package which offers practical help by providing some immediate financial relief.

"We encourage our customers to talk to us if they experience any financial difficulties as a result of the gas crisis," Mr Stafford concluded.

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.