Westpac Provides $250,000 and Financial Assistance to Support the North Queensland Community

SYDNEY, Australia, Feb. 8 -- Westpac Banking issued the following news release:

Westpac Group has today announced it is helping the North Queensland community affected by floods with a $250,000 donation.

$150,000 will be provided to The Salvation Army and $100,000 will be provided to the Foundation for Rural & Regional Renewal (FRRR) to support disaster recovery and provide local community resilience grants to help them rebuild and repair.

The Salvo's Rural Support Services program has been helping rural and regional communities affected by natural disasters for over 100 years.

The Foundation for Rural & Regional Renewal (FRRR) is the only national organisation offering small, discretionary funds to regional communities across Australia.

Westpac State General Manager for Queensland Greg Crocombe said this is in addition to the bank's Disaster Relief Package which is now available to affected customers and offers immediate practical help to assist customers with their finances.

"Our thoughts are with those communities who have been impacted by these severe events. We have proactively contacted customers we believe may have been affected and all customers can be assured that our staff are prepared and ready to assist with any financial concerns or enquiries."

"For example, our disaster relief package can provide Westpac home loan customers impacted by the floods the opportunity to defer repayments for three months as well as loan restructuring opportunities for business customers."

"By offering such support to our customers we hope to help alleviate any concerns they may have about their financial commitments so they can instead concentrate on their loved ones and the pressing issues at hand."

The Westpac Disaster Relief Package offers various options*, including the following:

* Affected customers with Westpac home loans may apply to defer repayments for up to three months;

* Affected businesses can request loan restructuring without incurring the usual bank fees such as establishment fees and break costs;

* Affected credit card customers may apply to defer repayments to their card for up to 90 days;

* Customers wishing to purchase replacement goods may apply for a personal loan at a discounted interest rate with no establishment fee;

* Westpac may waive interest rate adjustments for affected customers wishing to withdraw term deposits; and

* Affected Westpac customers with Home and Contents insurance may be eligible to receive assistance under the terms of their insurance policies for emergency accommodation.

Westpac customers who wish to utilise these special relief measures or need assistance should contact Westpac Assist on phone 1800 067 497, or alternatively call their local Bank Manager. This offer is available for customers to take up within three months of today's date.

Westpac Group is also encouraging its employees to give generously to the Salvation Army and other registered charities, and will match employee donations to eligible Australian charities through its Matching Gifts program.

Insurance customers

All affected insurance customers can be assured Westpac Insurance covers flood and storm damage. Customers can contact Westpac on 1800 198 229 so that we may assist. Claims can be lodged 24 hours a day, 7 days a week by calling this number.

Our assessors are on the ground and ready to assist all customers in the worst affected areas. Customers should not put themselves at risk by going into affected areas to retrieve insurance documents or to take photographs. We understand proof of loss may not be possible and we will accept the word of customers in these instances.