GOODMAN GROUP — Capital/Financing Update 2006

Jan 17, 2006

Macquarie Goodman

18 January 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 19 December 2005 in relation to MGQ's distribution for the quarter ended 31 December 2005, we confirm that securities under the DRP will be issued at \$4,5921.

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 January 2006 to 17 January 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 7 February 2006.

Yours faithfully

Carolyn Scobie Company Secretary

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