GOODMAN GROUP — Capital/Financing Update 2005

Oct 31, 2005

ASX Release - Macquarie Goodman Group ("Macquarie Goodman")

Pricing of \$115 million CMBS issuance

1 November 2005 Date: Release: Immediate

Further to our announcement of 26 October 2005. Macquarie Goodman has priced the further issue of notes under the current Macquarie Goodman Industrial Finance Pty Limited ("MGIF") CMBS Program.

A total of \$115 million floating rate notes are to be issued by MGIF on behalf of Macquarie Goodman with a weighted average margin of 27.3 basis points over the 3 month BBSW.

Settlement of the issue is scheduled for 7 November 2006 with the notes having a scheduled and final maturity date which coincides with the existing notes on issue.

Anthony Rozic, Chief Financial Officer, said that "Due to overwhelming demand, the issue has been priced earlier than anticipated. The issuance was extremely well priced and we are pleased with the continued support from the debt capital markets. The proceeds from the issue will be used to repay bank debt and for ongoing working capital purposes."

Westpac Institutional Bank is acting as arranger and lead manager of the issue.

For further information, please contact Macquarie Goodman:

Gregory Goodman Chief Executive Officer Tel: +61 2 9230 7400	Anthony Rozic Chief Financial Officer Tel: + 61 2 9230 7400

Macquarie Goodman Management Limited ABN 69 000 123 071 Macquarie Goodman Funds Management Limited ABN 48 067 796 641: AFSL Number 223621

Level 10, 60 Castlereagh Street Sydney NSW 2000 GPO Box 4703 Sydney NSW 2001

+61 2 9230 7400 Telephone +61 2 9230 7444 Facsimile info@macquariegoodman.com.au www.macquariegoodman.com