BY IAN CROUCH

A report is being prepared for the Coroner after a man was swept off rocks and drowned at Port Stephens.

Police say two men were on the rocks at Boulder Bay south of Fingal Bay yesterday morning when they were swept into the water by a wave.

Two friends nearby threw life jackets to the men but only one was able to grab it.

Surf Lifesavers were alerted and found the body of a 32-year-old man from Merrylands in Sydney.

The other man was rescued and taken to the John Hunter Hospital in a stable condition.

Investigations are continuing.