Press Release

JOINT MEDIA RELEASE 10 AUGUST 2001 Westpac to Distribute AWX Wine Class Shares The Australian Wine Exchange Pty Ltd (AWX) today announced that it had signed an agreement with Westpac Banking Corporation (Westpac) for it to be a founding distributor of AWX issued Wine Class Shares. Wine Class Shares will be redeemable preference shares that provide the holder with entitlement to delivery of branded premium wines at a specified future date. As part of the agreement Westpac will receive a minimum allocation of all initial public offers of Wine Class Shares for distribution to its clients. AWX CEO, Stephen Thompson, said that agreements are now in place with founding brokers to distribute the majority of all Wine Class Shares for the first two years. “Our broad base targeted distribution capability has strengthened the support of strong wine brands who are seeking to list.” Westpac joins Commonwealth Securities, E*Trade Australia, Salomon Smith Barney and Camerons Stockbrokers as founding brokers. “The agreement will enable Westpac to offer a unique, personalised and enjoyable investment to its retail and institutional clients,” Mr Thompson said. “Westpac is a leading financial institution and we’re delighted that they have decided to work with AWX on the distribution of wine class shares.” The AWX is on track to launch the AWX market in September this year. - ends - Further information: Stephen Thompson, CEO, AWX +61 3 9694 2810 or 0407 515 821 Angela Mentis, Head of Retail Distribution, Westpac +61 2 9284 9517 About Australian Wine Exchange Pty Ltd http://www.awx.com.au The Australian Wine Exchange Pty Ltd (“AWX”) is creating capital market and channel of distribution of pre-release Australian wine. Our vision is to broaden participation in wine investment by making it accessible, affordable and easy as share ownership. Prior to the retail release of a premium label, wine producers will offer a proportion of that label to the AWX to list on the Newcastle Stock Exchange (“NSX”) as a Wine Class Share. Wine Class Shares will be redeemable preference shares that provide the holder with an entitlement to take delivery of bottled wine at a specified future date. Initial public offers of Wine Class Shares will be issued under a prospectus and distributed by leading stockbrokers similar to a public company float. Each label and vintage of wine relates to a separate class of Wine Class Shares. One Wine Class Share gives the holder entitlement to one case of a specified branded wine. Holdings in Wine Class Shares will be represented by CHESS* or Issuer-sponsored statements. ASX Perpetual Registrars Limited will manage shareholder records. The wine will be kept in a climate-controlled warehouse for the duration of the listing period. Toll Holdings, Australia’s largest logistics company, will manage all logistics needs from wine producer to the final holder of the Wine Class Share. About Westpac Banking Corporation http://www.westpac.com.au Westpac began trading on 8 April, 1817 as the Bank of New South Wales with a single office in Macquarie Place, Sydney, in the then British colony of New South Wales. Westpac has branches and affiliates throughout the Pacific region and maintains offices in key financial centres around the world. The Westpac Group employs approximately 30,000 people in Australia and around the world. As at 31 March 2001, Westpac Banking Corporation had global assets of $185 billion. Westpac is ranked in the top 10 listed companies by market capitalisation on the Australian Stock Exchange Limited (ASX). For the full year to 30 September 2000, the Westpac Group's operating profit after income tax and abnormals was $1,715 million, a increase of 17.8% over the previous year. About 220,000 people and institutions in Australia and overseas are shareholders in Westpac. Westpac concentrates its activities in Australia, New Zealand and the Pacific Islands. Westpac merged with Challenge Bank in Western Australia in 1995, Trust Bank New Zealand in 1996, and Bank of Melbourne in Victoria in 1997.