Macquarie Group Limited — Director's Dealing 2008

Dec 8, 2008

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

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 30/9/2001.

Name of entity Macquarie Bank Limited & Macquarie Group Limited ABN 46 008 583 542 & 94 122 169 279

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Helen M Nugent
Date of last notice	7 March 2008 re: Macquarie Airports (“MAP”) stapled securities and 7 November 2007 re: Macquarie Group Limited fully paid ordinary (“MQG”) shares

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	Direct & Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Securities held by HNSF Pty Limited as trustee for the Helen Nugent Superannuation Fund, of which Helen Nugent is the sole beneficiary.
Date of change	5 December 2008
No. of securities held prior to change	• 8,143 MQG shares held by Helen Nugent; • 4,300 MQG shares held by HNSF Pty Limited; and • 28,611 MAP stapled securities held by Helen Nugent.
Class	• MQG ordinary shares; and • MAP stapled units.
Number acquired	• 4,198 MQG shares transferred to HNSF Pty Limited from Helen Nugent; and • 28,611 MAP stapled securities transferred to HNSF Pty Limited from Helen Nugent.
Number disposed	• 4,198 MQG shares transferred from Helen Nugent to HNSF Pty Limited; and • 28,611 MAP stapled securities transferred from Helen Nugent to HNSF Pty Limited.

cag_cosec_syd_prd/98056_1 + See chapter 19 for defined terms.

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	• $116,242.62 re transfer of MQG shares; and • $54,360.90 re transfer of MAP stapled securities.
No. of securities held after change	• 3,945 MQG shares held by Helen Nugent; • 8,498 MQG shares held by HNSF Pty Limited; and • 28,611 MAP stapled securities held by HNSF PtyLimited.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Securities transferred via off-market transfer.

Part 2 – Change of director’s interests in contracts

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

9 December 2008

C:\DOCUME~1\gcable\LOCALS~1\Temp\cag_cosec_syd_prd_98056_1.DOC + See chapter 19 for defined terms.

Appendix 3Y Page 2