GOODMAN GROUP — Capital/Financing Update 2005

Oct 30, 2005

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

Macquarie Goodman Wholesale Fund closes oversubscribed

31 October 2005 Date: Release: Immediate

As part of our ongoing strategy to pursue 3^rd party funds management opportunities, Macquarie Goodman is pleased to advise that it has received demand from a combination of domestic and offshore cornerstone investors well in excess of the available equity for its new wholesale property trust, the Macquarie Goodman Wholesale Fund ("MGWF").

Macquarie Goodman is considering alternatives to facilitate the additional demand including selling down its interest in MGWF to a minimum coinvestment of 30%.

Further information on MGWF will be released to the market once the final structure and allocation of securities to investors in MGWF is finalised, which is anticipated to occur by mid November 2005.

For further information, please contact Macquarie Goodman:

Macquarie Goodman Group 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 Facsimile +61 2 9230 7444 info@macquarlegoodman.com.au www.macquariegoodman.com