SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K


                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


         Date of Report (Date of Earliest Event Reported) August 3, 2004
                                                          --------------

        INTERSTAR SECURITISATION MANAGEMENT PTY LIMITED (as trust manager
                  of Interstar Millennium Series 2003-5G Trust)


                 INTERSTAR SECURITISATION MANAGEMENT PTY LIMITED
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)



                            Commonwealth of Australia
                 ----------------------------------------------
                 (State or Other Jurisdiction of Incorporation)



           333-108537                                   Not Applicable
    ------------------------                ------------------------------------
    (Commission File Number)                (I.R.S. Employer Identification No.)



Level 28, 367 Collins Street, Melbourne,Victoria,3000,Australia   Not Applicable
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices)                            (Zip Code)


                                  613-9612-1111
              ----------------------------------------------------
              (Registrant's Telephone Number, Including Area Code)


                                 Not Applicable
          -------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)




ITEM 5.  OTHER EVENTS.

         On October 28, 2003 Interstar Securitisation Management Pty Limited, in
its capacity as Trust Manager (the "Trust  Manager") of the Interstar  Millenium
Series 2003-5G Trust (the "Trust") , publicly issued  US$675,000,000 of Class A2
Mortgage Backed Floating Rate Notes due January 2036 and  US$41,000,000 of Class
B1 Mortgage Backed  Floating Rate Notes due January 2036 (the "Notes")  pursuant
to a registration  statement (No.  333-108537) declared effective on October 21,
2003.  Interstar  Securitisation  Management Pty Limited was the manager for the
issuance of the Notes.  Capitalized  terms used in this Form 8-K and not defined
have the same meanings given to them in the prospectus related to the Notes.

         On January 20,  2004,  the  Quarterly  Payment  Date,  the Trust made a
regular  quarterly  distribution of principal and interest to the holders of the
Notes issued by the Trust.

         On April 20, 2004, the Quarterly Payment Date, the Trust made a regular
quarterly  distribution  of  principal  and interest to the holders of the Notes
issued by the Trust.

         On July 20, 2004, the Quarterly  Payment Date, the Trust made a regular
quarterly  distribution  of  principal  and interest to the holders of the Notes
issued by the Trust.



ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND EXHIBITS.

(a)      Financial Statements

         Not applicable.

(b)      Pro Forma Financial Information.

         Not applicable.

(c)      Exhibits.





                  ITEM 601(A) OF
                  REGULATION S-K
EXHIBIT NO.       EXHIBIT NO.                     DESCRIPTION
- ----------        --------------                  -----------

    1                  99           Quarterly Noteholders Report Related to the
                                    July 20, 2004 Distribution




                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf,  as Trust
Manager for the Interstar  Millennium  Series 2003-5G Trust, by the undersigned,
thereunto duly authorized.


                             Interstar Securitisation Management Pty Limited,
                             (in its capacity as trust manager for the Interstar
                             Millennium Series 2003-5G Trust)
                             ---------------------------------------------------
                             (Registrant)



Dated: August 3, 2004

                             By:    /S/ SAM KYRIACOU
                                ------------------------------------------------
                                Name:   Sam Kyriacou
                                Title:  Director




                                INDEX OF EXHIBITS



                  ITEM 601(A) OF
EXHIBIT           REGULATION S-K
NUMBER            EXHIBIT NO.      DESCRIPTION                             PAGE
- -------           --------------   -----------                             ----

Exhibit 1         99               Quarterly Noteholders Report             1
                                   Related to the July 20, 2004
                                   Distribution