GOODMAN GROUP — Capital/Financing Update 2011

Mar 16, 2011

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Goodman notes successful IIF Unitholder Meeting

Date 17 March 2011 Release Immediate

Goodman Group (Goodman or Group) is pleased to note that the Goodman-led Consortium’s proposal to acquire all of the ordinary units in IIF has been approved by ING Industrial Fund (IIF) Unitholders at a Meeting held in Sydney today.

Approval of the transaction remains subject to a court hearing which is scheduled for Friday, 18 March 2011.

Goodman Group CEO, Mr Greg Goodman said: “We are delighted with today’s positive voting result. The three resolutions were all voted over 93% in favour which demonstrates the strong investor support for the Consortium’s proposal and enables us to progress the acquisition to its final stages.”

The acquisition is complementary to Goodman’s existing portfolio, expands the Group’s customer offering and provides opportunities to develop existing and new relationships. The transaction will contribute 61 quality industrial properties, predominantly located in Australia’s key east coast markets. It also provides Goodman with access to a significant land bank, further strengthening the Group’s development capability and adding to Goodman’s current A$400 million of Australian development projects.

The successful completion of the transaction will significantly enhance Goodman’s global logistics platform, growing total assets under management to A$17.5 billion, with assets under management in Australia increasing by A$2.2 billion to A$8.8 billion. A further A$0.3 billion will be added to Goodman’s European industrial portfolio and will see the Group and its funds become one of the largest owners of logistics real estate in Germany.

Mr Goodman added: “Substantial third party equity has been raised by the Group and our managed funds over the last 12 months and with the completion of this transaction, we are well positioned to organically grow our assets under management to over A$20 billion over the next couple of years.”

“We take this opportunity to welcome our consortium partners, Canada Pension Plan Investment Board, APG of The Netherlands and China Investment Corporation and thank them for their support of the Group. Significantly, we have jointly established a new A$1.4 billion fund called Goodman Trust Australia, and separately negotiated a A$1.1 billion finance facility to refinance IIF’s existing debt.”

“Goodman has worked collaboratively with ING Management over recent months to finalise the transaction and ensure a smooth integration process. We look forward to welcoming the IIF staff transitioning across to Goodman following the expected completion of the transaction on 29 March.” Mr Goodman concluded.

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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

For further information, please contact:

Greg Goodman Group Chief Executive Officer Tel +61 2 9230 7400

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.

About Canada Pension Plan Investment Board

The Canada Pension Plan Investment Board (CPPIB) is a professional investment management organisation that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 17 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, the CPPIB invests in public equities, private equities, real estate, inflation-linked bonds, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, the CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At December 31 2010, the CPP Fund totalled C$140.1 billion.

For more information about the CPPIB, please visit www.cppib.ca

About APG

All Pensions Group (APG) is the manager of APG Strategic Real Estate Pool (the Pool). The Pool is a pooled investment vehicle established in the Netherlands, in which investments, in both Australia and other countries, are held for the purpose of collective investment. With assets under management of approximately €277 billion (as at 31 December 2010) APG is one of the world’s largest institutional investors.

For more information about APG, please visit www.apg.nl

About CIC

China Investment Corporation (CIC) is an investment institution established under the Company Law of the People’s Republic of China on September 2007. It seeks stable and long term risk adjusted financial return and it is operated strictly on a commercial basis. For more information about CIC, please visit www.china-inv.cn