Westfield Group prices US$1.5 billion senior guaranteed notes

22 September 2006

Countries: Australia

The Westfield Group (ASX:WDC) today priced a US$1.5 billion debt issue into the United States markets.

The debt issue comprises:

• US$600 million 6-year fixed rate senior guaranteed notes with a coupon of 5.4%;
  and
  
• US$900 million 10-year fixed rate senior guaranteed notes with a coupon of 5.7%.

Proceeds from this issue will be used to repay short-term borrowings.

Yours faithfully
WESTFIELD GROUP

Simon Tuxen
Company Secretary

This announcement is not an offer of securities for sale in the United States. The securities referred to in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S. in the absence of registration or an applicable exemption from the registration requirements.