BK52 Gemgart.23-1 73

    NEW SOUTH WALES TREASURY

                 New South Wales Treasury Corporation
            8pct International Global Bonds Due March 2008
               Exchangable into NSW Treasury Corporation
                  Inscribed Stock 8pct due March 2008

                             XS0074185827

Please be advised that the Issuer has repurchased AUD 244,000,000 of the above
issue for Value 17.03.2005.

The new outstanding is AUD 1,514,919,000.00

Gemgart.23-1 73 (LSE:BK52)
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