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7 January 2008

Disaster Relief for south-east QLD, northern NSW

Westpac today announced a special disaster relief package to assist customers seriously affected by floods in south-east Queensland and northern NSW.

"No one is fully prepared for a natural disaster. Our thoughts are with everybody affected by the floods, many of whom are Westpac customers," Westpac General Manager, Consumer Financial Services Regional NSW, Rob Ewin said.

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

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

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.