GOODMAN GROUP — Capital/Financing Update 2005

Oct 4, 2005

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

Macquarie Goodman builds its Hong Kong assets under management to exceed A\$500 million

Date: 5 October 2005 Release: Immediate

Macquarie Goodman Group ("Macquarie Goodman") has agreed terms to secure a new high quality building, the Dynamic Cargo Centre and has increased its holding in Evergain Plaza in Hong Kong for a total of A\$166.5 million. This brings Macquarie Goodman's assets under management in Hong Kong to A\$547.7 million.

Dynamic Cargo Centre, Hong Kong

Macquarie Goodman has acquired the majority portion (79%) of the Dynamic Cargo Centre, in Tsuen Wan, Hong Kong for HK\$650.0 million (A\$108.3 million).

The premium industrial property comprises 84.121 sqm of lettable space over 31 levels. The building is located in one of Hong Kong's major industrial precincts with links to all main transport hubs and provides easy access to the airport and the Kwai Chung Container Terminals. The property is located adiacent to the Global Gateway industrial building, which was Macquarie Goodman's first Hong Kong acquisition.

Macquarie Goodman's share of the building comprises 66,720 sqm over 26 floors with the remaining floors owned by five separate parties including Nippon Express. At present the property is 98% occupied and will provide an initial yield of 6.5%.

The property houses 20 customers for predominantly industrial, logistics and warehouse uses. The major customers include Fuii Xerox (Hong Kong) Ltd (21%), Oxford University Press (China) Ltd (17%) and Expeditors Hong Kong Ltd (14%).

Chief Executive Officer of Macquarie Goodman - Asia, Stephen Hawkins, said,"The acquisition of a major portion of the Dynamic Cargo Centre assists our efforts to diversify our asset base in Hong Kong. The property is of a type and use that compliments our existing properties in Hong Kong."

Completion of the acquisition is subject to the approval of the vendor's shareholders by early December 2005. Should the transaction receive shareholder approval, settlement of the property is scheduled for mid December 2005.

Evergain Plaza, Hong Kong

Macquarie Goodman has secured a further 18% interest in Evergain Plaza, Kwai Chung, Hong Kong from a number of vendors for consideration totalling HK\$349.3 million (A\$58.2 million). This takes Macquarie Goodman's interest in the property to 62%.

Macquarie Goodman's share of the building comprises 49,222 sqm of lettable area together with 178 car and lorry parking spaces. The acquisition will provide an initial yield of 6.4%.

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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 Svdney NSW 2000 GPO Box 4703 Sydney NSW 2001

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

"We are very pleased that we have been able to further consolidate our investment in Evergain Plaza. This will provide Macquarie Goodman with the opportunity to commence implementing a number of operating efficiencies through a majority ownership in the building," Mr Hawkins said.

Settlement of the various portions is scheduled to be completed in September and October 2005.

For further information, please contact Macquarie Goodman:

Gregory Goodman

Chief Executive Officer +61 2 9230 7400

Stephen Hawkins Chief Executive Officer - Asia +852 2249 3100

asx re

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

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