GOODMAN GROUP — Capital/Financing Update 2010

May 25, 2010

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Goodman Australia Industrial Fund announces $297 million in new debt facilities

Date 26 May 2010 Release Immediate

Goodman Australia Industrial Fund (GAIF or the Fund) has today announced new initiatives that will further strengthen its balance sheet and liquidity position by securing $297 million in new debt facilities to refinance existing 2010 maturities.

The new initiatives are:

• • a new 5 year, $250 million debt facility provided by Challenger Life Company Limited (Challenger) to refinance the GAIF CMBS maturing in September 2010. The new facility will mature in September 2015.
• • a 3 year, $94 million term facility provided by Commonwealth Bank of Australia (CBA) for GAIF’s 50/50 joint venture with Brickworks Limited.

The fees payable on both facilities are commensurate with current market rates.

Goodman Group CEO and Chairman of GAIF, Greg Goodman said, “These initiatives are consistent with the Group and its managed funds strategy of diversifying our debt platforms and continuing to further lengthen our debt maturity terms. Goodman and its managed funds will both continue to be innovative and flexible in pursuing sources of capital as evidenced by the recent and successful completion of the $150 million, BBB+ rated Goodman+Bonds by Goodman Property Trust (GMT). These initiatives ensure we are well positioned into the future with longer-term debt matched to our long-term assets.”

Challenger’s Head of Real Estate, Trent Alston, said: “over recent months we’ve been looking for longer-dated, high quality real estate debt opportunities and this transaction proved to be an excellent fit”.

Mr Goodman added: “Today’s announcement follows GAIF’s successful completion of its $320m equity raising initiatives undertaken last November and continues to highlight both the quality of GAIF’s underlying real estate portfolio and the ongoing support and commitment of our debt and equity partners. We are very pleased with the support we have received from Challenger and CBA to complete this transaction”.

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For further information, please contact Goodman: Gregory Goodman Group Chief Executive Officer 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-au@goodman.com | www.goodman.com Goodman Limited ABN 69 000 123 071 Goodman Funds Management Limited ABN 48 067 796 641 AFSL Number 223621

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

About GAIF

GAIF is Australia’s largest unlisted industrial fund with $4.3 billion of high quality industrial and business space assets under management in all major regions around Australia. The fund has a weighted average lease term of approximately 6.3 years and includes blue chip companies such as Coles, Toll, Coca Cola Amatil and Linfox among its customers.

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-au@goodman.com | www.goodman.com Goodman Limited ABN 69 000 123 071 Goodman Funds Management Limited ABN 48 067 796 641 AFSL Number 223621