GPT GROUP — Major Shareholding Notification 2002

Nov 27, 2002

Westpac Banking Corporation ABN 33 007 457 141

Group Secretariat Level 25, 60 Martin Place Sydney NSW 2000 Australia Telephone: (02) 9216 0390 Facsimile: (02) 9226 1888 jthorburn@westpac.com.au

28 November 2002

Companies Announcement Platform Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000

Dear Sir /Madam

Substantial Shareholder Notices - General Property Trust (GPT)

We refer to our notice dated 7 May 2002.

A reconciliation of our records indicates that the notice filed in respect of the Westpac Group's holding in GPT as at 23 April 2002 that indicated a combined holding percentage of 6.64% was incorrect and that the correct figure, as at that date, was 6.93%.

We apologise for any inconvenience this may have caused.

Yours sincerely

Julie Thorburn Head of Group Secretariat (Acting)