Westpac Family Restaurants Property Trust

Westpac Family Restaurants Property Trust (the Trust) was an unlisted property trust. The Trust's assets originally comprised 36 Hungry Jacks and KFC stores located around Australia. The properties were purchased and then leased back to the Competitive Foods Group.

Update on the sale of properties

On 22 August 2008 investors in the Trust voted in favour of the proposal outlined in the Explanatory Memorandum to sell the Trust's properties and wind up the Trust. All assets have now been sold and the wind up process has been completed.

Investors received the Trust’s final income and capital distribution of 6.0532 cents per unit on 27 August 2010. Following this distribution, and accordance with wind up procedure, all units in the Trust have been cancelled and investors have received a holding statement showing a nil unit balance.

Tax statements for the 30 June 2010 financial year have been mailed to investors on 13 September 2010. By 30 September 2010, investors will receive the following further communication:

-          A periodic statement for the 30 June 2010 financial year

-          An exit statement as at 27 August 2010

-          30 June 2010 Annual Financial Accounts, if the investor elected receive the financial accounts.

-          A letter from Westpac Funds Management Limited

30 June 2010 Net Asset Value (NAV)

The NAV per unit at 30 June 2010, before the payment of the June quarter distribution, was $0.0653 per unit. The Trust distributed all remaining assets on 27 August 2010. Therefore, following this payment, the NAV of the Trust is $0.0 per unit.

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Financial products issued by Westpac Funds Management Limited ("WFML") are not deposits with or other liabilities of Westpac Banking Corporation ABN 33 007 457 141 ("Westpac"). They are subject to investment risk, including possible delays in repayment and loss of income and principal invested. Neither Westpac nor any of its respective directors, officers, employees, associates or its subsidiaries guarantee or give any assurance in regard to the capital value, income return or performance of the investment.

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