GOODMAN GROUP — Capital/Financing Update 2006

Apr 19, 2006

Macquarie Goodman

20 April 2006

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 22 March 2006 in relation to MGQ's distribution for the quarter ended 31 March 2006, we confirm that securities under the DRP will be issued at \$5,0856.

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 April 2006 to 19 April 2006 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 5 May 2006.

Yours faithfully

Carolyn Scobie Company Secretary

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