GOODMAN GROUP — Share Issue/Capital Change 2005

Feb 8, 2005

Macquarie Goodman

9 February 2005

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

Dear Sir

MACQUARIE GOODMAN GROUP ("MGQ"). MACQUARIE GOODMAN MANAGEMENT LIMITED ("MGM") AND MACQUARIE GOODMAN INDUSTRIAL TRUST ("MGI")

We refer to the Appendices 3B lodged on 10 December 2004 for MGI and MGM providing the estimated number of securities to be issued as a result of the merger of MGI and MGM. We now enclose the Appendices 3B in relation to MGI units and MGM shares that were issued to Australian and New Zealand residents (MGQ Securityholders) today to effect the stapling of MGI units and MGM shares. Further, following today's implementation of MGQ, there are 1,258,759,821 MGQ stapled securities on issue.

We will dispatch Issuer Sponsored Holding Statements or CHESS Confirmations to MGQ Securityholders together with other relevant information on 15 February 2005.

The MGQ stapled securities held by former foreign MGM Shareholders and MGI Unitholders (Foreign Securityholders) have been issued to Citigroup Global Markets Australia Pty Limited (Cashout Bank).

The Cashout Bank will sell the stapled securities as soon as practicable in accordance with the Explanatory Memorandum dated 3 December 2004. The cash proceeds will be dispatched to the Foreign Securityholders on or before 8 March 2005.

Please do not hesitate to contact the undersigned if you require further information.

Yours faithfully

Carolyn Scobie Company Secretary

Macquarie Goodman Group Macquarie Goodman Management Limited ABN 69 000 123 071 Macquarie Goodman Funds Management Limited ABN 48 067 796 641; AFSL Number 223621

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

(02) 9230 7400 Telephone Facsimile (02) 9230 7444 info@macquariegoodman.com.au www.macquariegoodman.com.au

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Macquarie Goodman Management Limited

ACN 000 123 071

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\mathbf{1}$ ⁺Class of ⁺securities issued or to be $\left[$ issued

Ordinary Shares

• $\mathcal{D}$ Number of ⁺securities issued or to be issued (if known) or maximum number which may be issued
• $\overline{3}$ Principal terms of the ⁺securities (eg, if options, exercise price and date; if partly paid expiry *securities, the amount outstanding and due dates for payment; if securities, *convertible the conversion price and dates for conversion)

967,794,042.

Fully paid ordinary shares

• See chapter 19 for defined terms.