Macquarie Group Limited — Director's Dealing 2008

May 27, 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	Peter H Warne
Date of last notice	27 November 2007

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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	• Securities held in the name of Fortis Clearing Sydney on behalf of Next Financial Nominees Pty Limited on behalf of P & F Super Pty Limited as trustee for the Warne Family Superannuation Fund, a trust of which Peter Hastings Warne is a joint beneficiary with Frances Jane Warne. These accounts are operated on a discretionary Basis by a third party on behalf of the beneficiaries, who are not involved in the investment decisions.
Date of change	22 May 2008
No. of securities held prior to change	• 866 MQG fully paid ordinary shares held in the name of Fortis Clearing Sydney on behalf of Next Financial Nominees Pty Limited on behalf of P & F Super Pty Limited as trustee for the Warne Family Superannuation Fund, a trust of which Peter Warne is a joint beneficiary with Frances Jane Warne; and • 8,211 MQG fully paid ordinary shares held in the name of Fortis Clearing Sydney on behalf of Next Financial Nominees Pty Limited on behalf of Peter Hastings Warne.
Class	MQG fully paid ordinary shares.

G:\CAG\COS_CoSec & IR WorkSite structure\ASX_Market Releases [WS]\3X_3Y_3Z

[TAB]\PeterWarne\phw28052008.doc + See chapter 19 for defined terms.

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number acquired	MQG fully paid ordinary shares. 2,000
Number disposed	Nil.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$57.40 per MQG share.
No. of securities held after change	trustee , a ey on behalf n behalf of Peter Hastings Warne. • 2,866 MQG fully paid ordinary shares held in the name of Fortis Clearing Sydney on behalf of Next Financial Nominees Pty Limited on behalf of P & F Super Pty Limited as for the Warne Family Superannuation Fund trust of which Peter Warne is a joint beneficiary with Frances Jane Warne; and • 8,211 MQG fully paid ordinary shares held in the name of Fortis Clearing Sydn of Next Financial Nominees Pty Limited o
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 acquired via an on market trade.

Part 2 – Change of director’s interests in contracts

P f director’s interest art 2 – Change o	s in contracts
Detail of contract	ption contracts over MQG fully paid ordinary xpiring on 29 May 2008 and exercisable at $56.00 pershare. Two put o shares, e
Nature of interest	Indirect
Name of registered holder (if issued securities)	or the Warne Family Superannuation f which Peter Warne is a joint beneficiary with Frances Jane Warne. Contracts sold by Fortis Clearing Sydney on behalf of Next Financial Nominees Pty Limited on behalf of P & F Super Pty Limited as trustee f Fund, a trust o
Date of change	22 May 2008
No. and class of securities to which nterest related prior to change i Note: Details are only r relation to which the int equired for a contract in erest has changed	Two put option contracts over a total of 2,000 MQG shares.
Interest acquired
Interest disposed	Sold tw shares. o put options contracts over a total of 2,000 MQG
Value/Consideration Note: If consideration is non- and an estimated valuation cash, provide details	$4,000
Interest after change

28 May 2008

G:\CAG\COS_CoSec & IR WorkSite structure\ASX_Market Releases [WS]\3X_3Y_3Z [TAB]\PeterWarne\phw28052008.doc + See chapter 19 for defined terms.

Appendix 3Y Page 2