BK52 Gemgart.23-1 73

    NEW SOUTH WALES TREASURY

          New South Wales Treasury Corporation 6.0 per cent.
              Guaranteed Exchangeable Bonds due May 2012
              Exchangeable into New South Wales Treasury
          Corporation Inscribed Stock 6.0 per cent due 05/12

Please be advised that the Issuer has repurchased AUD 77,000,000 of the above
issue for Value 17.03.2005.

The new outstanding is AUD 1,059,617,000.

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