GOODMAN GROUP — Capital/Financing Update 2005

Jun 27, 2005

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

Coles Myer sign 20 year lease for new \$125 million Distribution Centre in Adelaide

Date: 28 June 2005 Release: Immediate

Macquarie Goodman (MGQ) today announced that Coles Myer Limited (CML) has signed an Agreement to Lease for a new major distribution centre in Edinburgh Parks, Salisbury, South Australia.

On completion, the facility will contain a 64.725 square metre Regional Distribution Centre with associated hard stand and ancillary facilities which is expected to be completed by February 2007. The facility will be developed on a 28.3 hectare parcel of land which has been purchased from the Land Management Corporation of South Australia. The site provides the opportunity for further expansion to satisfy CML's future requirements for the region.

CML has signed a 20 year lease with annual reviews of 2.75% for the facility. Total project costs are expected to be in the order of \$125 million. Macquarie Goodman will use existing debt facilities to fund the development which upon completion will provide a yield of 7.5%.

This distribution centre will service CML supermarkets in South Australia with both fast and slow-moving temperature-controlled products such as fresh produce, dairv and meat, and fast-moving non-temperature controlled (ambient) products.

The property is recognised for its strategic location in proximity to the national highway network and the Adelaide to Darwin rail line. The site benefits from direct adjoining access to a rail easement which provides for the construction of a future rail spur to provide for a fully integrated Transport terminal.

David van Aanholt, Chief Operating Officer, commented "We are extremely pleased to have secured the opportunity to work with Coles on the rollout of their new Supply Chain model. We see this as a very exciting opportunity to work with a major customer whilst increasing our own level of investment in South Australia."

For further information, please contact Macquarie Goodman: 2013

Gregory Goodman Chief Executive Officer +61 2 9230 7400 Carlo Ca

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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

David van Aanholt Chief Operations Officer $+61292307400$

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