GOODMAN GROUP — Capital/Financing Update 2006

Jan 19, 2006

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

Macquarie Goodman secures Wilson Logistics Centre in Hong Kong

Date:	20 January 2006 Release: Immediate

Macquarie Goodman has secured a warehouse/logistics property in the port area of Kwai Chung, Hong Kong being the Wilson Logistics Centre for A\$41.7 million.

The property is a 15 level logistics warehousing building with an ancillary office on the top floor with a lettable area of 26,172 sqm and has been recently refurbished. Facilities in the building include loading/unloading dock areas accessing the five cargo lifts together with a passenger lift. The property provides a mix of air conditioned and non air conditioned warehousing with Level 15 as the head office accommodation for the customer.

Wilson Logistics Centre is located in the container port suburb of Kwai Chung with Hong Kong port being one of the busiest ports of the world. The location provides the property with efficient logistics / air cargo services due to its easy access to the airport and the container terminals.

An affiliated company of the Vendor, Wilson Logistics Ltd, will leaseback the entire property at completion for an initial term of four years, six months on a yield of 7.25%. The lease provides for two option periods stepped reviews.

Chief Executive Officer of Macquarie Goodman - Asia, Stephen Hawkins, said, "The acquisition of the Wilson Logistics Centre provides Macquarie Goodman with diversification in our customer base with a quality asset in a key industrial location of Hong Kong. The acquisition takes the Hong Kong portfolio to over A\$810 million."

Settlement of the property is scheduled for March 2006.

In addition, we have further increased our holding in the Dynamic Cargo Centre by securing Level 8 of the building for a purchase price of A\$4.0 million. This brings our total acquisition price on the property to A\$116 million.

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For further information, please contact Macquarie Goodman:

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Gregory Goodman Chief Executive Officer Tel: +61 2 9230 7400

$\sim 10^{11}$ keV Stephen Hawkins Chief Executive Officer - Asia Tel: +852 2249 3100

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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

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