GOODMAN GROUP — Capital/Financing Update 2009

Sep 15, 2009

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NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO US PERSONS

Goodman Group successfully completes $1.3 billion equity raising

Date	16 September 2009
Release	Immediate

Goodman Group ( Goodman ) today announced the successful completion of the retail component of the accelerated non-renounceable entitlement offer ( Entitlement Offer ) announced on 6 August 2009.

The retail component of the Entitlement Offer ( Retail Entitlement Offer ) raised proceeds of approximately $355 million. This follows the completion of the institutional placement and institutional component of the Entitlement Offer which raised approximately $923 million.

As previously indicated, Goodman received entitlement applications for approximately $282 million under the Retail Entitlement Offer, representing 80% of the stapled securities ( Securities ) offered under the Retail Entitlement Offer. Further to this, applications for additional Securities in excess of entitlements have resulted in the Retail Entitlement Offer being over subscribed. Accordingly, Goodman Group will adopt a scale-back policy having regard for offsetting the dilutionary impact of the Placement and the issue of hybrid securities to China Investment Corporation as set out in the Retail Entitlement Offer booklet.

Goodman Group’s Chief Executive Officer, Greg Goodman said ”We have been delighted with the strong level of support we have received in the retail entitlement offer and thank retail securityholders for their continued support for the Group.”

Goodman today allotted approximately 800 million new Securities under the Retail Entitlement Offer which are expected to commence trading on Thursday, 17 September 2009. Holding Statements are expected to be despatched to Retail Entitlement Offer participants on Friday, 18 September 2009. Refunds for applications as a result of the scale-back or invalid applications are expected to be despatched to Retail Entitlement Offer participants no later than Tuesday, 22 September 2009.

Please contact your broker or the Goodman Offer Information Line on 1300 723 040 to confirm allocations prior to receipt of Holding Statements.

For further information, please contact Goodman Group:

Greg Goodman Group Chief Executive Officer +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@goodman.com | www.goodman.com Goodman Limited ABN 69 000 123 071 Goodman Funds Management Limited ABN 48 067 796 641 AFSL Number 223621

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO US PERSONS

About Goodman

Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe and the United Kingdom. Goodman Group, comprised of the stapled entities Goodman Limited and Goodman Industrial Trust, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist fund managers of industrial property and business space globally.

Goodman’s global property expertise, integrated own+develop+manage customer service offering and significant fund management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver longterm returns for investors

For more information please visit www.goodman.com

IMPORTANT INFORMATION

This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or to any "U.S. person" (as defined in Regulation S under the U.S. Securities Act of 1933 (the "Securities Act")) ("US Person"). This document may not be distributed to, or relied upon by, persons in the United States or who are, or are acting for the account or benefit of, US Persons. Securities may not be offered or sold in the United States or to, or for the account or benefit of, US Persons, absent registration under the Securities Act or an exemption from registration. Neither the entitlements nor the new securities offered under the Equity Offer have been, or will be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States. In addition, neither Goodman Limited nor Goodman Industrial Trust has been, or will be, registered under the US Investment Company Act of 1940 (the “Investment Company Act”) in reliance on an exception provided by Section 3(c)(7) thereof. Accordingly, the new securities to be offered and sold in the Equity Offer may only be offered or sold in the United States or to, or for the account or benefit of, US Persons in transactions exempt from, or not subject to, the registration requirements of the Securities Act and applicable state securities laws and exempt from the registration requirements of the Investment Company Act.

This announcement may contain certain "forward-looking statements". The words "anticipate", "believe", "expect", "project", "forecast", "estimate", "likely", "intend", "should", "could", "may", "target", "plan" and other similar expressions are intended to identify forward-looking statements. Statements regarding certain plans, strategies and objectives of management and indications of, and guidance on, future earnings and financial position and performance are also forwardlooking statements. Due care and attention has been used in the preparation of forecast information. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Goodman Group, that may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Recipients are cautioned not to place undue reliance on forward-looking statements. Goodman Group assumes no obligation to update such information.

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