IGO LIMITED — Major Shareholding Notification 2011

Mar 20, 2011

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21 March 2011

Company Announcements Platform Australian Securities Exchange Limited 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam,

Notice of Initial Substantial Holder

In accordance with section 671B of the Corporations Act 2001 (Cth), we attach a Notice of Initial Substantial Holder (Form 603) in respect of INDEPENDENCE GROUP NL.

A notice in substantially the same terms will also be lodged with the ASX on behalf of Westpac Banking Corporation (WBC).

Yours faithfully,

Chris Millard Company Secretary

GPO Box 7072 Sydney NSW 2001 Australia

The Chifley Tower Level 15, 2 Chifley Square Sydney NSW 2000 Australia Tel 612 8253 2999

BT Investment Management Limited ABN 28 126 385 822

www.btim.com.au

BT[® ] is a registered trade mark of BT Financial Group Pty Ltd and is used under licence

Form 603

Corporations Law Section 671B

Notice of initial substantial holder

To Company Name/Scheme INDEPENDENCE GROUP NL ACN/ARSN ABN 46 092 786 304 1. Details of substantial holder(1) Name BT Investment Management Limited (BTT) ACN/ARSN (if applicable) ABN 28 126 385 822 The holder became a substantial holder on 18/03/2011

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities	Number of securities	Person’s votes (5)	Voting power (6)
ORDINARYSHARES	8,033,428	8,033,428	5.79%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Registered holder of securities	Nature of relevant interest (6)	Number of securities
Advance Asset Management Limited	HSBC Custody Nominees (Australia) Limited.	Advance Asset Management Ltd is the RE of various unit trusts and, in that capacity, can exercise the power to vote or dispose ofthe shares.	680,089
Asgard Capital Management Limited	ASGARD Capital Management Limited	Asgard Capital Management Limited ABN 92 009 279 592 AFSL 240695 RSE Licence L0001946 is the trustee, administrator and custodian of all Asgard superannuation entities, the (Hillross) PortfolioCare Retirement Plan and theBEACON	25,553

		Superannuation Plan. In those capacities, Asgard has the power to exercise the right to vote attached to, and to dispose of, the securities held by these entities.
BT Funds Management Limited	HSBC Custody Nominees (Australia) Limited. BT Portfolio Services Limited	BT Funds Management Limited is the manager of various superannuation funds, institutional investor portfolios and unit trusts and, in that capacity, can exercise the power to vote or dispose ofthe shares.	123,022
BT Funds Management No.2 Limited	HSBC Custody Nominees (Australia) Limited.	BT Funds Management No 2 Limited is or may be the Manager of various Superannuation funds, Institutional investor portfolios and unit trusts and, in that capacity, can exercise the power to vote or dispose ofthe shares.	952,106
BT Investment Management (RE) Limited	JP Morgan Chase Bank NCS (National Bank Custodian Services) Australia and New Zealand Banking Group Limited IAG Nominees Limited BNP Fund Services Australasia Pty Limited Citicorp Nominees Pty Limited National Nominees Limited National Australia Bank Limited UBS Wealth Management National Australian Custodian Services HSBC Custody Nominees (Australia) Limited.	BT Investment Management (RE) Limited is the RE and fund manager of various superannuation funds, institutional investor portfolios and unit trusts and, in that capacity, can exercise the power to vote or dispose of the shares.	6,239,841

	Westpac Staff Superannuation Plan PTY LTD	HSBC Custody Nominees (Australia) Limited.	Westpac Staff Superannuation Plan PTY LTD	28,987

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Persons entitled to be registered as holder(8)	Class and number of securities
BT Funds Management Limited	See Schedule	See Schedule
Asgard Capital ManagementLimited	See Schedule	See Schedule
Advance Asset ManagementLimited	See Schedule	See Schedule
BT Funds Management No.2 Limited	See Schedule	See Schedule
BT Investment Management (RE) Limited	See Schedule	See Schedule

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration(9)	Consideration(9)	Class and number of securities
		Cash	Non-cash
WBC & associates	See Schedule	See Schedule

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable) Nature of association

7. Addresses

The addresses of persons named in this form are as follows:

The addresses ofpersons named in this form are as follows:
Name	Address
Westpac Banking Corporation (WBC)	Level 20, Westpac Place, 275 Kent St, Sydney NSW2000
BT Funds Management Limited	Level 20, Westpac Place, 275 Kent Street, Sydney NSW2000
Asgard Capital Management Limited	Level 20, Westpac Place, 275 Kent Street, Sydney NSW2000
Advance Asset Management Limited	Level 20, Westpac Place, 275 Kent Street, Sydney NSW2000
BT Funds Management No.2 Limited	Level 20, Westpac Place, 275 Kent Street, Sydney NSW2000
BT Investment Management (RE) Limited	Level 15, Chifley Tower, 2 Chifley Square, Sydney NSW2000
INDEPENDENCE GROUP NL	Ground Floor, Suite 1, 183 Great Eastern Highway Belmont WA 6104 Ph: (08) 9479 1777 Fax(08) 94791877

Signature

print name sign here	Chris Millard capacityCompanySecretary
	date 22/3/2011

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6of the form.

• (2) See the definition of “associate” in section 9 of the Corporations Law.

• (3) See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Law.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

• (6) The person’s votes divided by the total votes in the body corporate scheme multiplied by 100.

• (7) Include details of:

• (a) Any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and with a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) Any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of “relevant agreement” in section 9 of the Corporations Law.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown”.

• (9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details mus be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

SCHEDULE

Sales & Purchases for the period : 18/11/2010 to 18/03/2011 SECURITY: IGO

Advance Asset	Management Limited
Date	Registered Company	Quantity	Value
19/11/2010	HSBC Custody Nominees (Australia) Limited.	7,226	52,316.24
22/11/2010	HSBC Custody Nominees (Australia) Limited.	5,530	.00
22/11/2010	HSBC Custody Nominees (Australia) Limited.	61,985	.00
22/11/2010	HSBC Custody Nominees (Australia) Limited.	43,787	.00
24/11/2010	HSBC Custody Nominees (Australia) Limited.	21,589	150,475.33
25/11/2010	HSBC Custody Nominees (Australia) Limited.	16,448	118,590.08
26/11/2010	HSBC Custody Nominees (Australia) Limited.	-640	-4,601.60
30/11/2010	HSBC Custody Nominees (Australia) Limited.	5,786	41,543.48
30/11/2010	HSBC Custody Nominees (Australia) Limited.	20,423	143,982.15
3/12/2010	HSBC Custody Nominees (Australia) Limited.	11,179	84,066.08
6/12/2010	HSBC Custody Nominees (Australia) Limited.	7,050	55,131.00
8/12/2010	HSBC Custody Nominees (Australia) Limited.	11,211	85,988.37
13/12/2010	HSBC Custody Nominees (Australia) Limited.	9,025	69,041.25
29/12/2010	HSBC Custody Nominees (Australia) Limited.	16,811	134,151.78
6/01/2011	HSBC Custody Nominees (Australia) Limited.	-920	-7,194.40
6/01/2011	HSBC Custody Nominees (Australia) Limited.	-2,676	-21,006.60
10/01/2011	HSBC Custody Nominees (Australia) Limited.	-960	-7,132.80
13/01/2011	HSBC Custody Nominees (Australia) Limited.	-15,945	-123,254.85
14/01/2011	HSBC Custody Nominees (Australia) Limited.	-2,172	-16,746.12
14/01/2011	HSBC Custody Nominees (Australia) Limited.	-5,891	-45,419.61
7/02/2011	HSBC Custody Nominees (Australia) Limited.	-934	-7,079.72
7/02/2011	HSBC Custody Nominees (Australia) Limited.	-131	-992.98
8/02/2011	HSBC Custody Nominees (Australia) Limited.	-1,759	-13,262.86
3/03/2011	HSBC Custody Nominees (Australia) Limited.	-1,700	-11,186.00
3/03/2011	HSBC Custody Nominees (Australia) Limited.	-17,916	-118,424.76
3/03/2011	HSBC Custody Nominees (Australia) Limited.	-22,674	-149,875.14
3/03/2011	HSBC Custody Nominees (Australia) Limited.	-42,506	-280,964.66
4/03/2011	HSBC Custody Nominees (Australia) Limited.	-27,581	-183,413.65
17/03/2011	HSBC Custody Nominees (Australia) Limited.	-14,124	-84,461.52
17/03/2011	HSBC Custody Nominees (Australia) Limited.	-18,057	-107,980.86
17/03/2011	HSBC Custody Nominees (Australia) Limited.	-8,661	-51,792.78
18/03/2011	HSBC Custody Nominees (Australia) Limited.	-11,016	-68,519.52
18/03/2011	HSBC Custody Nominees (Australia) Limited.	-10,399	-64,681.78
18/03/2011	HSBC Custody Nominees (Australia) Limited.	-18,200	-113,204.00
	Total	13,188	-545,910.45
	Advance Asset Management Limited Total :	13,188	-545,910.45
Asgard Capital	Management Limited
Date	Registered Company	Quantity	Value
16/03/2011	ASGARD Capital Management Limited	825	4,785.00
	Total	825	4,785.00
	Asgard Capital Management Limited Total :	825	4,785.00
BT Funds Management Limited

Date	Registered Company	Quantity	Value
27/01/2011	HSBC Custody Nominees (Australia) Limited.	3,016	21,986.64
31/01/2011	HSBC Custody Nominees (Australia) Limited.	3,999	28,432.89
1/02/2011	HSBC Custody Nominees (Australia) Limited.	6,032	43,249.44
	Total	13,047	93,668.97
Date	Registered Company	Quantity	Value
21/02/2011	BT Portfolio Management Services	1,000	7,016.34
22/02/2011	BT Portfolio Management Services	1,000	6,856.34
02/03/2011	BT Portfolio Management Services	2,200	14,886.34
02/3/2011	BT Portfolio Management Services	740	5,023.94
04/03/2011	BT Portfolio Management Services	1,030	6,927.04
04/03/2011	BT Portfolio Management Services	2,200	14,732.34
16/03/2011	BT Portfolio Management Services	5,000	29,965.68
18/03/2011	BT Portfolio Management Services	3,000	18,786.34
	Total	16,170	104,194.36
	BT Funds Management Limited Total :	29,217	197,863.33
BT Funds Management No.2 Limited
Date	Registered Company	Quantity	Value
22/11/2010	HSBC Custody Nominees (Australia) Limited.	115,681	.00
22/11/2010	HSBC Custody Nominees (Australia) Limited.	3,930	.00
22/11/2010	HSBC Custody Nominees (Australia) Limited.	30,294	.00
23/11/2010	HSBC Custody Nominees (Australia) Limited.	-10,000	-70,900.00
14/12/2010	HSBC Custody Nominees (Australia) Limited.	-1,858	-14,399.50
14/12/2010	HSBC Custody Nominees (Australia) Limited.	-1,394	-10,803.50
14/12/2010	HSBC Custody Nominees (Australia) Limited.	-2,665	-20,653.75
14/12/2010	HSBC Custody Nominees (Australia) Limited.	-2,036	-15,779.00
14/12/2010	HSBC Custody Nominees (Australia) Limited.	-551	-4,270.25
14/12/2010	HSBC Custody Nominees (Australia) Limited.	-343	-2,658.25
14/12/2010	HSBC Custody Nominees (Australia) Limited.	-7,210	-55,877.50
14/12/2010	HSBC Custody Nominees (Australia) Limited.	-2,083	-16,143.25
14/12/2010	HSBC Custody Nominees (Australia) Limited.	-3,930	-30,457.50
11/01/2011	HSBC Custody Nominees (Australia) Limited.	22,555	167,583.65
17/01/2011	HSBC Custody Nominees (Australia) Limited.	22,225	165,354.00
19/01/2011	HSBC Custody Nominees (Australia) Limited.	8,742	66,176.94
20/01/2011	HSBC Custody Nominees (Australia) Limited.	13,865	103,432.90
7/02/2011	HSBC Custody Nominees (Australia) Limited.	28,474	216,687.14
7/02/2011	HSBC Custody Nominees (Australia) Limited.	2,728	20,760.08
14/03/2011	HSBC Custody Nominees (Australia) Limited.	7,197	44,189.58
15/03/2011	HSBC Custody Nominees (Australia) Limited.	21,812	133,489.44
	Total	245,433	675,731.23
	BT Funds Management No.2 Limited Total :	245,433	675,731.23
BT Investment	Management (RE) Limited
Date	Registered Company	Quantity	Value
22/11/2010	Australia and New Zealand Banking Group Limited	9,469	.00
11/01/2011	Australia and New Zealand Banking Group Limited	2,466	18,322.38
17/01/2011	Australia and New Zealand Banking Group Limited	1,886	14,031.84

19/01/2011	Australia and New Zealand Banking Group Limited	719	5,442.83
20/01/2011	Australia and New Zealand Banking Group Limited	1,150	8,579.00
7/02/2011	Australia and New Zealand Banking Group Limited	2,544	19,359.84
7/02/2011	Australia and New Zealand Banking Group Limited	244	1,856.84
14/03/2011	Australia and New Zealand Banking Group Limited	1,087	6,674.18
15/03/2011	Australia and New Zealand Banking Group Limited	1,443	8,831.16
	Total	21,008	83,098.07
Date	Registered Company	Quantity	Value
22/11/2010	BNP Fund Services Australasia Pty Limited	12,562	.00
30/11/2010	BNP Fund Services Australasia Pty Limited	38,876	275,242.08
7/12/2010	BNP Fund Services Australasia Pty Limited	-1,306	-10,017.02
7/12/2010	BNP Fund Services Australasia Pty Limited	-3,167	-24,290.89
7/12/2010	BNP Fund Services Australasia Pty Limited	-4,344	-33,318.48
7/12/2010	BNP Fund Services Australasia Pty Limited	-5,534	-42,445.78
25/01/2011	BNP Fund Services Australasia Pty Limited	5,477	39,872.56
27/01/2011	BNP Fund Services Australasia Pty Limited	8,708	63,481.32
1/02/2011	BNP Fund Services Australasia Pty Limited	-9,781	.00
1/02/2011	BNP Fund Services Australasia Pty Limited	-6,264	.00
1/02/2011	BNP Fund Services Australasia Pty Limited	-8,588	.00
1/02/2011	BNP Fund Services Australasia Pty Limited	-11,104	.00
1/02/2011	BNP Fund Services Australasia Pty Limited	-12,562	.00
1/02/2011	BNP Fund Services Australasia Pty Limited	-7,891	.00
14/03/2011	BNP Fund Services Australasia Pty Limited	30,013	181,878.78
18/03/2011	BNP Fund Services Australasia Pty Limited	8,316	52,058.16
	Total	33,411	502,460.73
Date	Registered Company	Quantity	Value
30/11/2010	Citicorp Nominees Pty Limited	58,452	413,840.16
25/01/2011	Citicorp Nominees Pty Limited	10,176	74,081.28
27/01/2011	Citicorp Nominees Pty Limited	13,474	98,225.46
14/03/2011	Citicorp Nominees Pty Limited	49,068	297,352.08
18/03/2011	Citicorp Nominees Pty Limited	13,895	86,982.70
	Total	145,065	970,481.68
Date	Registered Company	Quantity	Value
22/11/2010	HSBC Custody Nominees (Australia) Limited.	9,393	.00
22/11/2010	HSBC Custody Nominees (Australia) Limited.	27,660	.00
22/11/2010	HSBC Custody Nominees (Australia) Limited.	467,786	.00
22/11/2010	HSBC Custody Nominees (Australia) Limited.	93,084	.00
22/11/2010	HSBC Custody Nominees (Australia) Limited.	4,606	.00
22/11/2010	HSBC Custody Nominees (Australia) Limited.	69,779	.00
22/11/2010	HSBC Custody Nominees (Australia) Limited.	7,425	.00
30/11/2010	HSBC Custody Nominees (Australia) Limited.	-69,779	-494,035.32
7/12/2010	HSBC Custody Nominees (Australia) Limited.	-3,285	-25,195.95
7/12/2010	HSBC Custody Nominees (Australia) Limited.	-16,705	-128,127.35
7/12/2010	HSBC Custody Nominees (Australia) Limited.	-27,660	-212,152.20
14/12/2010	HSBC Custody Nominees (Australia) Limited.	22,070	171,042.50
24/12/2010	HSBC Custody Nominees (Australia) Limited.	5,659	44,932.46
7/01/2011	HSBC Custody Nominees (Australia) Limited.	6,297	48,423.93
11/01/2011	HSBC Custody Nominees (Australia) Limited.	134,331	998,079.33
13/01/2011	HSBC Custody Nominees (Australia) Limited.	9,398	72,740.52
17/01/2011	HSBC Custody Nominees (Australia) Limited.	96,047	714,589.68
19/01/2011	HSBC Custody Nominees (Australia) Limited.	36,893	279,280.01

20/01/2011	HSBC Custody Nominees (Australia) Limited.	58,992	440,080.32
24/01/2011	HSBC Custody Nominees (Australia) Limited.	-3,813	-27,148.56
31/01/2011	HSBC Custody Nominees (Australia) Limited.	1,266	9,077.22
2/02/2011	HSBC Custody Nominees (Australia) Limited.	6,388	47,015.68
7/02/2011	HSBC Custody Nominees (Australia) Limited.	12,370	94,135.70
7/02/2011	HSBC Custody Nominees (Australia) Limited.	129,107	982,504.27
17/02/2011	HSBC Custody Nominees (Australia) Limited.	2,170	15,233.40
11/03/2011	HSBC Custody Nominees (Australia) Limited.	2,546	15,912.50
14/03/2011	HSBC Custody Nominees (Australia) Limited.	60,252	369,947.28
15/03/2011	HSBC Custody Nominees (Australia) Limited.	67,314	411,961.68
15/03/2011	HSBC Custody Nominees (Australia) Limited.	21,389	123,628.42
18/03/2011	HSBC Custody Nominees (Australia) Limited.	15,552	97,355.52
18/03/2011	HSBC Custody Nominees (Australia) Limited.	146,771	918,786.46
	Total	1,393,303	4,968,067.50
Date	Registered Company	Quantity	Value
30/11/2010	IAG Nominees Limited	11,355	80,393.40
30/11/2010	IAG Nominees Limited	18,045	127,758.60
25/01/2011	IAG Nominees Limited	1,861	13,548.08
25/01/2011	IAG Nominees Limited	2,954	21,505.12
27/01/2011	IAG Nominees Limited	2,594	18,910.26
27/01/2011	IAG Nominees Limited	4,123	30,056.67
1/03/2011	IAG Nominees Limited	-1,091	-7,429.71
14/03/2011	IAG Nominees Limited	8,817	53,431.02
14/03/2011	IAG Nominees Limited	14,863	90,069.78
18/03/2011	IAG Nominees Limited	2,417	15,130.42
18/03/2011	IAG Nominees Limited	4,109	25,722.34
	Total	70,047	469,095.98
Date	Registered Company	Quantity	Value
16/03/2011	JP Morgan Chase Bank	12,346	74,199.46
	Total	12,346	74,199.46
Date	Registered Company	Quantity	Value
22/11/2010	National Australia Bank Limited	125,019	.00
30/11/2010	National Australia Bank Limited	9,975	70,623.00
30/11/2010	National Australia Bank Limited	58,095	411,312.60
30/11/2010	National Australia Bank Limited	-125,019	-885,134.52
25/01/2011	National Australia Bank Limited	1,635	11,902.80
25/01/2011	National Australia Bank Limited	10,323	75,151.44
27/01/2011	National Australia Bank Limited	2,279	16,613.91
27/01/2011	National Australia Bank Limited	13,432	97,919.28
14/03/2011	National Australia Bank Limited	8,222	49,825.32
14/03/2011	National Australia Bank Limited	51,385	311,393.10
18/03/2011	National Australia Bank Limited	2,274	14,235.24
18/03/2011	National Australia Bank Limited	13,720	85,887.20
	Total	171,340	259,729.37
Date	Registered Company	Quantity	Value
22/11/2010	National Australian Custodian Services	74,006	.00
22/11/2010	National Australian Custodian Services	38,441	.00
22/11/2010	National Australian Custodian Services	14,760	.00
11/01/2011	National Australian Custodian Services	20,097	149,320.71
11/01/2011	National Australian Custodian Services	10,448	77,628.64

11/01/2011	National Australian Custodian Services	4,009	29,786.87
17/01/2011	National Australian Custodian Services	14,760	109,814.40
17/01/2011	National Australian Custodian Services	7,666	57,035.04
17/01/2011	National Australian Custodian Services	2,942	21,888.48
19/01/2011	National Australian Custodian Services	5,632	42,634.24
19/01/2011	National Australian Custodian Services	2,925	22,142.25
19/01/2011	National Australian Custodian Services	1,122	8,493.54
20/01/2011	National Australian Custodian Services	9,026	67,333.96
20/01/2011	National Australian Custodian Services	4,689	34,979.94
20/01/2011	National Australian Custodian Services	1,801	13,435.46
7/02/2011	National Australian Custodian Services	19,719	150,061.59
7/02/2011	National Australian Custodian Services	1,889	14,375.29
7/02/2011	National Australian Custodian Services	981	7,465.41
7/02/2011	National Australian Custodian Services	10,241	77,934.01
7/02/2011	National Australian Custodian Services	3,930	29,907.30
7/02/2011	National Australian Custodian Services	377	2,868.97
2/03/2011	National Australian Custodian Services	40,374	270,909.54
14/03/2011	National Australian Custodian Services	8,229	50,526.06
14/03/2011	National Australian Custodian Services	4,272	26,230.08
15/03/2011	National Australian Custodian Services	11,503	70,513.39
15/03/2011	National Australian Custodian Services	5,977	36,579.24
15/03/2011	National Australian Custodian Services	4,931	30,227.03
	Total	324,747	1,402,091.44
Date	Registered Company	Quantity	Value
22/11/2010	National Nominees Limited	22,437	.00
11/01/2011	National Nominees Limited	6,094	45,278.42
17/01/2011	National Nominees Limited	4,474	33,286.56
19/01/2011	National Nominees Limited	1,709	12,937.13
20/01/2011	National Nominees Limited	2,735	20,403.10
7/02/2011	National Nominees Limited	574	4,368.14
7/02/2011	National Nominees Limited	5,985	45,545.85
14/03/2011	National Nominees Limited	2,498	15,337.72
15/03/2011	National Nominees Limited	3,485	21,363.05
	Total	49,991	198,519.97
Date	Registered Company	Quantity	Value
22/11/2010	NCS (National Bank Custodian Services)	11,569	.00
	Total	11,569	.00
Date	Registered Company	Quantity	Value
6/12/2010	UBS Wealth Management	-26,392	-205,881.35
8/12/2010	UBS Wealth Management	-23,000	-176,552.60
9/12/2010	UBS Wealth Management	-23,000	-176,147.80
14/12/2010	UBS Wealth Management	-23,000	-178,682.40
31/01/2011	UBS Wealth Management	16,386	114,634.82
31/01/2011	UBS Wealth Management	4,600	32,315.46
4/02/2011	UBS Wealth Management	-2,838	-21,583.84
23/02/2011	UBS Wealth Management	22,483	152,877.66
24/02/2011	UBS Wealth Management	15,882	107,929.31
25/02/2011	UBS Wealth Management	2,300	15,732.00
25/02/2011	UBS Wealth Management	920	6,256.00
11/03/2011	UBS Wealth Management	5,520	34,210.20
18/03/2011	UBS Wealth Management	50,017	313,106.42

18/03/2011	UBS Wealth Management	56,884	356,093.84
18/03/2011	UBS Wealth Management	62,832	393,328.32
	Total	139,594	767,636.03
	BT Investment Management (RE) Limited Total :	2,372,421	9,695,380.23
Westpac Staff	Superannuation Plan PTY LTD
Date	Registered Company	Quantity	Value
22/11/2010	HSBC Custody Nominees (Australia) Limited.	1,812	.00
	Total	1,812	.00
	Westpac Staff Superannuation Plan PTY LTD
	Total :	1,812	.00

ANNEXURE A – ASSOCIATED COMPANIES

This is the annexure ‘A’ (being 4 pages) referred to in Form 603, Notice of initial substantial holder, lodged for Westpac and its associated entities

Rebecca Farrell – Company Secretary WBC – 18/03/2011

1925 (Commercial) Pty Limited	Australia	Qvalent Pty Limited	Australia
1925 (Industrial) Pty Limited	Australia	RAMS Financial Group Pty Limited	Australia
1925 Advances Pty Limited	Australia	Real Estate Investment Trust B	Australia
		RESI-Statewide Mortgage Corporation Pty
A.F.G. Insurances Limited	Australia	Limited	Australia
A.G.C. (Pacific) Limited	Papua New Guinea	RMS Warehouse Trust 2007-1	Australia
Advance Asset Management Limited	Australia	Sallmoor Pty Limited	Australia
Altitude Administration Pty Limited	Australia	Sarnia Pty Limited	Australia
Altitude Rewards Pty Limited	Australia	Securitor Financial Group Limited	Australia
Aotearoa Financial Services Limited	New Zealand	Series 2005-1G WST Trust	Australia
Ascalon Capital Managers Limited	Australia	Series 2007-1G WST Trust	Australia
Ascalon Funds Seed Pool Trust	Australia	Series 2008-1M WST Trust	Australia
Asgard Capital Management Limited	Australia	Series 2009-1 WST Trust	Australia
Asgard Wealth Solutions Limited	Australia	Sixty Martin Place (Holdings) Pty Limited	Australia
Assirt Software Pty Limited	Australia	Southern Cross Inc.	USA
		St.George (Note Issuing Vehicle Only) Pty
Athena Finance Pty Limited	Australia	Limited	Australia
Australian Infrastructure Fund International 1 Pty Limited	Australia	St.George APL Pty Limited	Australia
Australian Loan Processing Security Company Pty Limited	Australia	St.George Business Finance Pty Limited	Australia
Australian Loan Processing Security Trust	Australia	St.George Custodial Pty Limited	Australia
Autodirect Pty Limited	Australia	St.George Equity Finance Limited	Australia
Beech Trust	Australia	St.George Finance Holdings Limited	Australia
Belliston Pty Limited	Australia	St.George Finance Limited	Australia
		St.George Financial Investments 1 Pty
Bill Acceptance Corporation Limited	Australia	Limited	Australia
BLE Capital Investments Pty Limited	Australia	St.George Financial Services Limited	Australia
BLE Capital Limited	Australia	St.George Group Holdings Pty Limited	Australia
BLE Capital (NZ) Limited	New Zealand	St.George Insurance Australia Pty Limited	Australia
BLE Development Pty Limited	Australia	St.George Life Limited	Australia
BLE Holdings Pty Limited	Australia	St.George Motor Finance Limited	Australia
BT (Queensland) Pty Limited	Australia	St.George New Zealand Limited	New Zealand
		St.George Procurement Management Pty
BT Australia Corporate Services Pty Limited	Australia	Limited	Australia
BT Australia Pty Limited	Australia	St.George Security Holdings Pty Limited	Australia
BT Finance & Investments Pty Limited	Australia	St.George Wealth Management Pty Limited	Australia
BT Finance Pty Limited	Australia	St.George WEL Pty. Limited	Australia
BT Financial Group (NZ) Limited	New Zealand	Sydney Capital Corp Inc	USA
BT Financial Group Pty Limited	Australia	Tasman Funding No.1 Limited	New Zealand
BT Funds Management (NZ) Limited	New Zealand	Tasman Funding No.2 Limited	New Zealand
BT Funds Management Limited	Australia	Tasman LLC	USA
BT Funds Management No.2 Limited	Australia	Tasman Pacific Investments Pty Limited	Australia
BT Investment Management (RE) Limited	Australia	Tavarua Funding Trust III	Australia
BT Investment Management Limited	Australia	Tavarua Funding Trust IV	USA
BT Investment Management No.2 Limited	Australia	TBNZ Investments (UK) Limited	UK
BT Life Limited	Australia	Teuton Pty Limited	Australia
BT Nominees Pty Limited	Australia	The Home Mortgage Company Limited	New Zealand
BT Portfolio Services Limited	Australia	The Mortgage Company Pty Limited	Australia
BT Securities Limited	Australia	The Warehouse Financial Services Limited	New Zealand
Buchelin Pty Limited	Australia	TIF International 1 Pty Limited	Australia
Canberra Advance Property Limited	Australia	TPC Services Australia Pty Limited	Australia
Castlereagh Trust	Australia	Value Nominees Pty Limited	Australia

CBA Limited	Australia	W1 Investments Pty Limited	Australia
Challenge Finance Pty Limited	Australia	Waratah Receivables Corp Pty Limited	Australia
Challenge Limited	Australia	Waratah Securities Australia Limited	Australia
Chifley Services Pty Limited	Australia	Westpac (NZ) Investments Limited	New Zealand
Codrington S.a.r.l.	Luxembourg	Westpac Administration Pty Limited	Australia
Crusade ABS Series 2008-1	Australia	Westpac Altitude Rewards Trust	Australia
Crusade ABS Series 2008-2	Australia	Westpac Americas Inc.	USA
Crusade CP Management Pty Limited	Australia	Westpac Asian Lending Pty Limited	Australia
Crusade CP No.1 Pty Limited	Australia	Westpac Asset Services Pty Limited	Australia
Crusade CP Trust No. 41	Australia	Westpac Bank of Tonga	Tonga
Crusade CP Trust No. 44	Australia	Westpac Bank Samoa Limited	Samoa
			Papua New
Crusade CP Trust No. 48	Australia	Westpac Bank-PNG-Limited	Guinea
Crusade CP Trust No. 49	Australia	Westpac Capital Corporation	USA
Crusade CP Trust No. 50	Australia	Westpac Capital Holdings Inc.	USA
Crusade CP Trust No. 52	Australia	Westpac Capital Trust III	USA
Crusade CP Trust No. 53	Australia	Westpac Capital Trust IV	USA
Crusade CP Trust No. 54	Australia	Westpac Capital-NZ-Limited	New Zealand
Crusade CP Trust No. 55	Australia	Westpac Cook Cove Trust I	Australia
Crusade CP Trust No. 56	Australia	Westpac Cook Cove Trust II	Australia
Crusade CP Trust No. 57	Australia	Westpac Custodian Nominees Limited	Australia
Crusade CP Trust No. 58	Australia	Westpac Debt Securities Pty Limited	Australia
Crusade CP Trust No. 60	Australia	Westpac Delta LLC	USA
		Westpac Direct Equity Investments Pty
Crusade Euro Trust 1E of 2004	Australia	Limited	Australia
		Westpac Equipment Finance (No.1) Pty
Crusade Euro Trust 1E of 2006	Australia	Limited	Australia
Crusade Euro Trust 1E of 2007	Australia	Westpac Equipment Finance Limited	Australia
Crusade Global Trust 1 of 2003	Australia	Westpac Equity Holdings Pty Limited	Australia
Crusade Global Trust 1 of 2004	Australia	Westpac Equity Investments NZ Limited	New Zealand
Crusade Global Trust 1 of 2005	Australia	Westpac Equity Pty Limited	Australia
Crusade Global Trust 1 of 2006	Australia	Westpac Europe Limited	UK
Crusade Global Trust 1 of 2007	Australia	Westpac Finance (HK) Limited	Hong Kong
Crusade Global Trust 2 of 2003	Australia	Westpac Financial Consultants Limited	Australia
Crusade Global Trust 2 of 2004	Australia	Westpac Financial Holdings Pty Limited	Australia
Crusade Global Trust 2 of 2005	Australia	Westpac Financial Services Group Limited	Australia
		Westpac Financial Services Group-NZ-
Crusade Global Trust 2 of 2006	Australia	Limited	New Zealand
Crusade Management Limited	Australia	Westpac Financial Services Limited	Australia
Crusade Trust 1A of 2005	Australia	Westpac Funding Holdings Pty Limited	Australia
		Westpac Funds Financing Holdco Pty
Crusade Trust 2P of 2008	Australia	Limited	Australia
Danaby Pty Limited	Australia	Westpac Funds Financing Pty Limited	Australia
Dragon Investment Services Limited	Australia	Westpac General Insurance Limited	Australia
		Westpac General Insurance Services
Dysty Pty Limited	Australia	Limited	Australia
Enfield Downs Pty Limited	Australia	Westpac Group Investment-NZ-Limited	New Zealand
		Westpac Group Investments Australia Pty
FAI No. 2 Trust	Australia	Limited	Australia
First Residential Property Trust	Australia	Westpac Holdings-NZ-Limited	New Zealand
G.C.L. Investments Pty Limited	Australia	Westpac Investment Capital Corporation	USA
		Westpac Investment Vehicle No.2 Pty
Gemini Trust	Australia	Limited	Australia
		Westpac Investment Vehicle No.3 Pty
General Credit Holdings Pty Limited	Australia	Limited	Australia
		Westpac Investment Vehicle No.4 Pty
General Credits Pty Limited	Australia	Limited	Australia
Halcyon Securities Limited	Australia	Westpac Investment Vehicle Pty Limited	Australia
Hastings Advisers LLC	USA	Westpac Investments U.K. Limited	UK
		Westpac Leasing Nominees-Vic.-Pty
Hastings Forestry Investments Limited	New Zealand	Limited	Australia
Hastings Forests Australia Pty Limited	Australia	Westpac Lenders Mortgage Insurance	Australia

		Limited
Hastings Funds Management (UK) Limited	UK	Westpac Life Insurance Services Limited	Australia
Hastings Funds Management (USA) Inc.	USA	Westpac Life-NZ-Limited	New Zealand
Hastings Funds Management Limited	Australia	Westpac Matching Gifts Limited	Australia
Hastings Group Pty Limited	Australia	Westpac New Zealand Group Limited	New Zealand
Hastings Investment Capital LP	USA	Westpac New Zealand Limited	New Zealand
Hastings Investment LLC	USA	Westpac Nominees-NZ-Limited	New Zealand
Hastings Management Pty Limited	Australia	Westpac NZ Funding Limited	New Zealand
Hastings Private Equity Fund IIA Pty Limited	Australia	Westpac NZ Operations Limited	New Zealand
		Westpac NZ Securitisation Holdings
Hastings Private Equity Fund IIB Pty Limited	Australia	Limited	New Zealand
Hickory Trust	Australia	Westpac NZ Securitisation Limited	New Zealand
		Westpac Overseas Holdings No. 2 Pty
Hitton Pty Limited	Australia	Limited	Australia
HLT Custodian Trust	New Zealand	Westpac Overseas Holdings Pty Limited	Australia
Infrastructure Australia (No.1) Limited	Australia	Westpac Pacific Limited Partnership	Australia
Infrastructure Australia (No.3) Limited	Australia	Westpac Private Equity Pty Limited	Australia
Infrastructure Australia (No.4) Limited	Australia	Westpac Properties Limited	Australia
Magnitude Group Pty Limited	Australia	Westpac RE Limited	Australia
Mayfair Australia Investments Limited	Australia	Westpac Residential Property Trust	Australia
		Westpac Residential Real Estate
MIF Custodian Trust	New Zealand	Investment Trust I	Australia
		Westpac Residential Real Estate
Mortgage Management Limited	Australia	Investment Trust II	Australia
Nationwide Management Pty Limited	Australia	Westpac Securities Administration Limited	Australia
Net Nominees Limited	Australia	Westpac Securities Inc.	USA
Number 120 Limited1	New Zealand	Westpac Securities Limited	Australia
Oakjet Pty Limited	Australia	Westpac Securities NZ Limited	New Zealand
		Westpac Securitisation Holdings Pty
Oniston Pty Limited	Australia	Limited	Australia
		Westpac Securitisation Management Pty
Orion Trust	Australia	Limited	Australia
Packaging Properties 1 Pty Limited	Australia	Westpac Singapore Limited	Singapore
Packaging Properties 2 Pty Limited	Australia	Westpac Structured Products Limited	Australia
		Westpac Superannuation Nominees-NZ-
Packaging Properties 3 Pty Limited	Australia	Limited	New Zealand
		Westpac Syndications Management Pty
Pact Accountants Investment Group Pty Limited	Australia	Limited	Australia
Partnership Pacific Limited	Australia	Westpac Term PIE Fund	New Zealand
Partnership Pacific Securities Limited	Australia	Westpac TPS Trust	Australia
Pashley Investments Pty Limited	Australia	Westpac Unit Trust	Australia
PF No. 2	New Zealand	Westpac USA Inc.	USA
Phoenix Trust	Australia	WFAL No.1 Loan Trust	Hong Kong

Note: Westpac retains 60% ownership of BT Investment Management Limited who lodges separate notices under ASX code ‘BTT’

BT Investment Management Limited (60%) BT Investment Management (RE) Limited (Subsidiary of BT Investment Management Limited)

Australia Australia