GOODMAN GROUP — Capital/Financing Update 2005

Oct 17, 2005

Macquarie Goodman

18 October 2005

The Manager Company Notices Section Australian Stock Exchange Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Sir

MACQUARIE GOODMAN GROUP ("MGQ") DISTRIBUTION REINVESTMENT PLAN ("DRP")

Further to our announcement of 20 September 2005 in relation to MGQ's distribution for the quarter ended 30 September 2005, we confirm that securities under the DRP will be issued at \$4.0144.

These new securities will be issued at the acquisition price being the average of the daily volume weighted average price of all sales of securities recorded on Australian Stock Exchange (ASX) for each of the ASX trading days from 4 October 2005 to 17 October 2005 inclusive, less a discount of 2%.

The DRP will be underwritten by J.P. Morgan Australia Limited.

The DRP securities will be issued on the payment date of 3 November 2005.

Yours faithfully

Carolyn Scobie Company Secretary

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