GOODMAN GROUP — Share Issue/Capital Change 2006

Oct 17, 2006

Macquarie Goodman

18 October 2006

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

Dear Sir

MACQUARIE GOODMAN GROUP ("MGQ") DISTRIBUTION REINVESTMENT PLAN ("DRP")

Further to our announcement of 21 September 2006 in relation to MGQ's distribution for the quarter ended 30 September 2006, we confirm that securities under the DRP will be issued at \$6.5443.

These new securities will be issued at the acquisition price being the average of the daily volume weighted average price of all sales of securities recorded on Australian Stock Exchange ("ASX") for each of the ASX trading days from 3 October 2006 to 16 October 2006 inclusive, less a discount of 2%.

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