GOODMAN GROUP — Capital/Financing Update 2008

May 5, 2008

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6 May 2008

The Manager Company Notices Section ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Sir

GMP: GOODMAN GROUP (‘GMG’) ANNOUNCEMENT - GOODMAN GROUP SELLS GOODMAN PROPERTY INVESTORS

We attach an announcement in relation to the sale of Goodman Property Investors.

Yours sincerely

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Carl Bicego Company Secretary

Level 10, 60 Castlereagh Street, Sydney NSW 2000 | GPO Box 4703, Sydney NSW 2001 Australia Tel +61 2 9230 7400 | Fax +61 2 9230 7444 | info-sydney@goodmanintl.com | www.goodmanintl.com Goodman Funds Management Limited (ABN 48 067 796 641; AFSL Number 223621) in its capacity as responsible entity of the Goodman PLUS Trust (ARSN 128 290 808)

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Goodman Group (“Goodman”) sells Goodman Property Investors

Date 6 May 2008 Release Immediate

Goodman announces today that it has agreed to the sale of its wholly owned subsidiary Goodman Property Investors (“GPI”) and Goodman’s associated investments in GPI managed funds (“fund interests”) to Aberdeen Asset Management PLC (“Aberdeen”).

Goodman acquired what is today known as GPI upon the acquisition of Arlington Securities in 2005 and has continued to expand and grow the business since this date. GPI is a provider of direct and indirect property portfolio services including separate mandates and pooled funds across all real estate asset classes in the UK and other international markets.

Goodman has agreed to the divestment of GPI for approximately £109 million (A$230 million) plus a further £12.5 million in performance based payments over the next two years, contingent on the level of new investor commitments to the combined GPI and Aberdeen Property Investors (“API”) business. A portion of the proceeds relating to certain fund interests will be received by Goodman within 9 months of completion resulting in a net upfront cash payment of £91 million.

Gregory Goodman, CEO of Goodman Group, said:

“Since the acquisition of Arlington in 2005, we have continued to grow our fully integrated, customer service model both organically and via acquisitions. We have a robust European platform with great continued growth potential for both logistics and business parks and the European region remains fundamental to our business model contributing a high proportion of Goodman’s earnings.

As part of ongoing operations we conducted a strategic review for GPI in 2007. We concluded that the best way to optimise value for the underlying investors in the GPI platform was for it to be combined with a strong specialist with a highly complimentary business model. Aberdeen was a highly strategic fit and was viewed as the best long term owner of GPI. We are pleased to announce this transaction as it represents a successful conclusion to our 2007 strategic review.”

Martin Gilbert, CEO of Aberdeen, said:

"We are delighted to be acquiring GPI. This acquisition will make Aberdeen Britain's second largest property fund manager and a top ten global player, with some £24 billion under management. In particular, GPI will give us real scale in the key UK market and transform API into a truly global operation. Together under single ownership the companies of GPI and API will have significant opportunities to offer our clients an enhanced product suite while leveraging management expertise and client relationships across the enlarged group.”

Level 10, 60 Castlereagh Street, Sydney NSW 2000 | GPO Box 4703, Sydney NSW 2001 Australia Tel +61 2 9230 7400 | Fax +61 2 9230 7444 | info@goodmanintl.com | www.goodmanintl.com Goodman International Limited ABN 69 000 123 071 Goodman Funds Management Limited ABN 48 067 796 641 AFSL Number 223621

Completion of the sale is subject to receiving approval from the UK Financial Services Authority.

The proceeds received from the sale of GPI are in line with book value and will initially be utilised to retire debt. Goodman also reaffirms its forecast operational EPS of 34.0 cents per security for the 2008 financial year.

For further information, please contact Goodman:

Gregory Goodman Anthony Rozic Group Chief Executive Officer Group Chief Financial Officer Tel +61 2 9230 7400 Tel +61 2 9230 7400

Level 10, 60 Castlereagh Street, Sydney NSW 2000 | GPO Box 4703, Sydney NSW 2001 Australia Tel +61 2 9230 7400 | Fax +61 2 9230 7444 | info@goodmanintl.com | www.goodmanintl.com Goodman International Limited ABN 69 000 123 071 Goodman Funds Management Limited ABN 48 067 796 641 AFSL Number 223621