GOODMAN GROUP — Capital/Financing Update 2005

Jun 29, 2005

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

Acquisitions expand Macquarie Goodman's Customer Base

30 June 2005 Date: Release: Immediate

South Australia - Deals with Coles Myer and Recall

Following the agreement with Coles Myer to develop its \$125 million South Australian distribution facility Macquarie Goodman Group ("Macquarie Goodman") is pleased to announce the following additional acquisitions.

Macquarie Goodman has agreed terms to purchase 64-68 East Avenue, Beverly, South Australia from Recall, Brambles Limited records management business.

The property which contains 7,200 sqm of improvements on a 1.1 hectare site was purchased for \$4.87 million. The property is conveniently located in close proximity to the Adelaide CBD.

Recall has entered into a 10 year lease with two five year options and will pay an initial rental of \$0.425 million per annum, providing an initial yield of 8.75%. The rent will be reviewed annually by a minimum of 3%.

David van Aanholt, Chief Operating Officer of Macquarie Goodman said, "This acquisition has provided us with an excellent opportunity to expand our presence in Adelaide and importantly also provides a property solution to our much valued customer, Recall."

Mr van Aanholt added, "Over the past 12 months we have completed the development of a major new facility for Recall in Auckland, commenced construction of a 24,000 sqm facility at GreystanesPark in Sydney's west and concluded a sale and lease back with Recall in regional Victoria. This transaction is a great example of our Customer Service Model at work."

Auckland – Secures \$150 million office park project

Macquarie Goodman has secured the prominent Eden Commercial Corporate Centre which is located in Eden Terrace for A\$57.35 million. The acquisition comprises four income producing office pods totalling 14,768 sqm. These have been acquired for A\$47.6 million yielding 8.4%.

An adjoining development site of 8.4 hectares which can accommodate three additional office pods has been purchased for A\$9.7 million.

A precommitment from the Minstery of Education has been secured over 3,828 sqm of the next 7,579 sqm stage of the property "Eden 5". The Ministry has committed to a seven year Pearson in lease. $\omega = \omega$ .

The acquisition of this project is in line with Macquarie Goodman's strategy to acquire well located, quality business space in Auckland with the possibility of future investment by the Macquarie Goodman Property Trust once the site is more fully developed.

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

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

Macquarie Goodman

The fully developed value of Eden Commercial Corporate Centre is expected to be valued in the order of \$150 million.

Mr Gregory Goodman, Chief Executive Officer of Macquarie Goodman said, "Eden Commercial is a quality asset which at the appropriate time could well suit the Macquarie Goodman Property Funds Management business in New Zealand, the listed Macquarie Goodman Property Trust."

The contract is conditional upon consent from the Overseas Investment Commission.

For further information, please contact Macquarie Goodman:

Gregory Goodman Chief Executive Officer +61 2 9230 7400

David van Aanholt Chief Operating Officer +61 2 9230 7400

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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 Sydney NSW 2000 GPO Box 4703 Sydney NSW 2001

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