Sustainability and community news from Westpac

Westpac makes Global 100 listFor the third year in a row, Westpac has been rated one of The Global 100 Most Sustainable Corporations in the World.

Westpac has been rated for the third year in a row as one of The Global 100 Most Sustainable Corporations in the World. Announced at the World Economic Forum in Davos, the Global 100 covers top sustainability performers from around 1800 companies in 17 countries.

What companies were measured on

Companies were evaluated according to how effectively they manage environmental, social and governance risks and opportunities, relative to their industry peers.

Westpac is one of five Australian companies to be included, joined again this year by IAG, and for the first time ANZ, Babcock and Brown and Rio Tinto. The list uses analysis by Innovest Strategic Value Advisors, a leading research firm specialising in non-traditional drivers of risk.

Matthew Kiernan, CEO of Innovest said: “As global investors become increasingly concerned about economic prospects for 2008, we believe the Global 100 will be particularly well positioned to weather the storm and deliver superior value to investors.”

“We believe the Global 100 will be particularly well positioned to weather the storm and deliver superior value to investors.”

PACT: The new stakeholder update

Welcome to the first issue of PACT:, Westpac’s new stakeholder update. PACT: offers information on some of the steps we’re taking across our business to address the issues facing our customers, employees, suppliers, the environment and wider community.

PACT: also covers some of the achievements we’ve made in meeting the key environmental, social and governance challenges we face, to ensure our business remains sustainable.

It’s vital for us to listen and engage with our stakeholders. PACT: offers a further vehicle for us to solicit feedback on our approach.

Westpac’s sustainability achievements This latest achievement builds on Westpac’s global sustainability leadership credentials:• Dow Jones Sustainability Index: Global

banking sector leader from 2002 to 2006 inclusive and equal highest overall sector rating of 86% in 2007 to 2008

• Governance Metrics International: Top rated and in the top one per cent of approximately 4000 companies in eleven consecutive ratings from 2004 to 2007

• Carbon Disclosure Project: One of four companies and the only bank globally to achieve a Climate Disclosure Leadership Index score of 100 and an Innovest Carbon Beta Rating of AAA.

• For more information on Westpac’s sustainability performance, visit our website: www.westpac.com.au/corporateresponsibility Details of the Global 100 list are available at: www.global100.org

• Send your comments and views to us at: corporateresponsibility@westpac.com.au. For more information visit: www.westpac.com.au

Sustainable future... Westpac makes the Global 100 Most Sustainable Corporations in the World.

ISSue 01 . FebruAry 2008

Westpac makes Global 100 list p1 Closing the Super advice gap for customers p2

PACT: The new stakeholder update p1Accessibility in action p2Community impact p2Funding supports social enterprise programs p3Disaster relief for customers p3

Sustainable supply p3

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Closing the Super advice gap for customersWestpac has developed a new service for Australian investors finding it hard to obtain quality, accessible and affordable superannuation and financial planning advice.

The new $199 Super Health Check has been designed to demystify financial planning and remove the barriers for customers with assets between $5000 and $100,000.

A Nielsen poll released last year showed many financial planners shun investors with less than $100,000 in assets. Yet with the average Super balance at around $45,000, too many investors are ignored by the industry and unable to get the advice they need. Westpac’s new Super Health Check aims to close that gap.

Closing the Super gap

Research released in May 2007 by Galaxy on consumer attitudes to financial planning also showed that four in 10 investors believed they didn’t have enough money to make financial advice worthwhile and more than 20 per cent thought it would cost too much.

Providing the service via telephone banking and the branch network will also better support the needs of those in regional and remote areas who have struggled to access advice services traditionally located in metropolitan areas.

Accessibility in action

In line with the latest Accessibility Action Plan, Westpac has been breaking ground in providing equal access through our banking services and within the workplace. The bank has been working with the Deaf Society of NSW on two pilot projects aimed at providing better access and support for customers and employees with hearing difficulties.

Better access for hearing impaired

Customers are benefiting from Westpac’s investment in providing better access. The Hearing Impaired Interpreter initiative has completed a successful pilot and has now been rolled out across Australia. Through the initiative, Westpac provides deaf customers with the opportunity to have an accredited Australian sign language (Auslan) interpreter present in their face-to-face conversations with the bank’s employees.

There are about 16,000 Australians whose primary language is Auslan.

One internal project, will help deaf employees benefit from better access to training, learning and development activities. The project, which was a three-month pilot to provide onsite interpreting services, also improved access to one-on-one coaching and team activities.

Free service available

When a deaf customer identifies that assistance is required and a meeting time has been agreed to, arrangements are made for a locally-based interpreter to be present at the meeting. The service is free to the customer and the branch or home finance manager organising the interview.

Sheena Walters, Manager of Interpreting and Advocacy, from the Deaf Society of NSW was

positive about Westpac’s commitment to providing greater service.

“The Deaf Society of NSW is pleased to work together with Westpac ensuring deaf people have access to the same level of service as other members of the community,” Sheena said.

“We believe it’s a great initiative and commend Westpac for being a leader in this field and we’re very excited that this initiative is being rolled out nationally.”

Westpac is improving access to its banking services and workplace. The bank is working with the Deaf Society of NSW to ensure more support for customers and employees with hearing impairments.

Community impactWestpac has won the Award for Excellence in Corporate Volunteering, a new national award managed by Volunteering Australia. This award recognises excellence in employer-supported volunteering programs.

Westpac employees have opportunities to support our community partners, and volunteer in their local community, for their own chosen causes. This flexibility is the defining factor to the success of Westpac’s volunteering program.

Strong community presence

Full-time and part-time employees are entitled to at least one day of Community Volunteering Leave per year, but many employees are much more active than this. An independent survey conducted in May 2007, revealed 85% of the bank’s employees participated in volunteering or fundraising activities in the previous 12 months.

Volunteering Australia judged the category and Westpac was selected out of nominees such as Shell, IBM, ANZ, and PricewaterhouseCoopers for demonstrating best practice, innovation and positive community impact.

As part of the award, Westpac receives $5000, which will be donated to Mission Australia, one of its key community partners, where more than 950 employees have volunteered since 2003.

• For more information on Westpac’s Accessibility Action Plan, visit: www.westpac.com.au

“We believe it’s a great initiative and commend Westpac for being a leader in this field and we’re very excited that this initiative is being rolled out nationally.”

• The Super Health Check is available in branches, by calling 1300 362 732 or online at: www.westpac.com.au>personal banking

• For more information on this and community involvement at Westpac, go to: www.westpac.com.au/community

The path to retirement... A new $199 Super Health Check is available for customers with between $5000 and $100,000 to invest in superannuation.

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Sustainable SupplyWestpac’s new Sustainable Supply Chain Management (SSCM) Code of Conduct aims to improve the sustainability screening of our Small and Medium Sized Enterprise suppliers.

Responsible practices

Following extensive engagement with Westpac’s supply chain and other stakeholders, the SSCM Code of Conduct states the standard of ethical, social and environmental business practices required from Westpac suppliers.

All contracts will require that suppliers meet these minimum standards. High-risk and high-spend suppliers will also be required to complete a more comprehensive SSCM process and work with Westpac to continuously improve their sustainability.

• For more information visit our website: www.westpac.com.au/corporateresponsibility

In 2007, the Westpac Foundation granted a record $3 million in funding to 23 not-for-profit organisations across Australia to help them address the causes of social problems in disadvantaged communities.

The Westpac Foundation is a charitable trust, independent from Westpac, which provides one-to-three year grants to Australian not-for-profit organisations, which have deductible gift recipient status.

Focus on sustainability

The Foundation’s focus is on creating and sustaining social enterprise programs in disadvantaged communities, supporting programs which promote youth leadership, empowerment and education that leads to employment, support families at risk and

encourage financial sustainability and responsible money management.

Range of initiatives supported

Previously funded social enterprise initiatives range from drug and alcohol rehabilitation and Indigenous employment, to educational opportunities for marginalised children and assistance for young people growing up with an imprisoned family member.

The Foundation also provides capacity-building initiatives to representatives of funded organisations, through various training in design, implementation, evaluation and communication plans for their programs.

The Westpac Foundation is now developing the funding program for 2009, with letters of interest required by 30 April 2008.

Funding supports social enterprise programs

Project grants from the Westpac Foundation help not-for-profit groups address the causes of social problems in disadvantaged communities across Australia. The Foundation is looking for new not-for-profit organisations to support in 2009.

Disaster relief for affected customersWestpac has announced special disaster relief packages for customers seriously affected by adverse weather conditions.

Customers receive support

During the summer, the bank has helped many customers dealing with the aftermath of violent thunderstorms in north-west Sydney, severe rains in and around Melbourne, bushfires in Western Australia and heavy rains in the Northern Territory.

Most recently, we have received calls from customers seriously affected by flooding in south-east Queensland, northern NSW, and northern and central Queensland.

Relief at hand

For these flood-affected customers, Westpac has announced the following financial assistance to support them:

• Customers with Westpac home loans have the option to defer repayments for up to three months

• Businesses with existing loans have the option to request loan restructuring without incurring the usual bank establishment fees

• Credit card customers have the option to request an emergency credit limit increase

• Customers with Westpac personal loans have the option to refinance their loan at a discounted fixed interest rate

• Customers wishing to withdraw term deposits will have interest penalties waived

• General insurance assessment and decisions will be fast tracked.

• For more on Westpac’s disaster relief package, contact Westpac Telephone Banking on: 132 032.

Help at hand… A Westpac Foundation grant is helping Artful Dodgers participants to develop artistic and multimedia skills at the Jesuit Social Services’ Studios in Melbourne.

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• To nominate a not-for-profit organisation for potential funding, contact the Westpac Foundation via email or request a copy of the application form from: westpacfoundation@westpac.com.au

ISSue 01 . FebruAry 2008 Send us your feedback: corporateresponsibility@westpac.com.auFor more information: www.westpac.com.au/corporateresponsibility +61 2 8253 0769

Information current as at 26 February 2008. The information in this newsletter is factual only and has been prepared without taking into account your objectives, financial situation and needs. It does not constitute financial product advice. Before acting on this information you should seek independent financial and taxation advice to determine its appropriateness to your objectives, financial situation and needs. Westpac Banking Corporation, ABN 33 007 457 141. © Westpac Banking Corporation.