SCENTRE GROUP TRUST 1 — Director's Dealing 2003

Dec 21, 2003

22 December 2003

Westfield Management Limited

Laval 24 Mastflate Toware 100 William Street Sydney NSW 2011 Australia GPO Box 4004 Sydney NSW 2001

Telephone 61 2 9358 7000 Facsimile 61 2 9358 7077

Company Announcements Office Australian Stock Exchange Limited Exchange Centre Level 4, 20 Bridge Street Sydney NSW 2000

The Manager Companies New Zealand Stock Exchange Limited Level 9, ASB Bank Tower 2 Hunter Street Wellington New Zealand

Dear Sirs,

WESTFIELD TRUST (ASX: WFT; NZX: WFT) - INITIAL DIRECTORS' INTEREST NOTICE FOR MR JOHN STUDDY AM

Following the appointment of Mr John Studdy AM as an independent non-executive director of the Board of Westfield Management Limited, the responsible entity of Westfield Trust, we now enclose the Appendix 3X, Initial Director's Interest Notice.

Yours faithfully WESTFIELD MANAGEMENT LIMITED Responsible Entity of Westfield Trust

Simon Tuxen Company Secretary

encl.

Appendix 3X

Rule 3.19A.1

Initial Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	Westfield Trust
ARSN	090 849 746

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Bradridge Studdy
Date of appointment	1 January 2004

Part 1 - Director's relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notiliable interest of a director" should be disclosed in this part.

Number & class of securities

Nil

+ See chapter 19 for defined terms.

Part 2 – Director's relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of Number & class of SecuritiesinterestNote: Provide details of the circumstances giving rise tothe relevant interest.
Andaman Pty Limited(relevant interest viafamilycompany)	18,000 units

Part 3 – Director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	Nil
Nature of interest
Name of registered holder(if issued securities)
and class of securities toNo.which interest relates

$+$ See chapter 19 for defined terms.