Macquarie Group Limited — M&A Activity 2007

Nov 20, 2007

Macquarie Group Limited ABN 94 122 169 279

No.1 Martin Place Sydney NSW 2000 GPO Box 4294 Sydney NSW 1164

Telephone (61 2) 8232 3333 Facsimile (61 2) 8232 7780 Telex 122246 Internet http://www.macquarie.com.au DX 10287 SSE SWIFT MACQAU2S

Treasury 8232 3600 Facsimile 8232 4227 Foreign Exchange 8232 3666 Facsimile 8232 3019 Metals and Mining 8232 3444 Facsimile 8232 3590 Futures 9231 1028 Telex 72263 Debt Markets 8232 8569 Facsimile 8232 8341 Agricultural Commodities 8232 7672 Facsimile 8232 3633

ASX/Media Release

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MACQUARIE GROUP TO ACQUIRE CIT SYSTEMS LEASING

21 NOVEMBER, 2007 — Macquarie Group (Macquarie) announced that it has entered into an agreement to purchase the business and assets of CIT Systems Leasing. When merged with Macquarie’s existing equipment leasing businesses in Europe, Canada and the Asia-Pacific, the new combined company will offer customers flexible, global technology equipment financing solutions for their business needs.

Headquartered in Bloomfield Hills, Michigan, CIT Systems Leasing is one of the largest independent lessors of equipment in North America, with customers throughout the U.S. and Canada and approximately US$700 million of assets. The business provides flexible, cost-effective strategies for customers looking to finance, manage and dispose of a wide variety of technology assets and capital equipment. CIT Systems Leasing serves both direct end-user customers (Fortune 1000 and middle market companies) across all industries in North America, as well as business partners and technology vendors.

Andrew Gee, global head of Macquarie’s technology leasing business, Macquarie Technology Finance, said, “CIT Systems Leasing is a leader in the U.S. and Canadian marketplace offering customers an independent, innovative and cost-effective way of meeting their equipment needs.

“The business provides very similar expertise and services in North America to those offered by our existing technology financing business in Europe, Canada and the AsiaPacific. With minimal overlap, the combination of the two operations will provide both current and new customers, many of whom are multinational, with truly international equipment financing solutions from the one reliable source.”

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Recognizing the importance of this new market for Macquarie’s equipment financing platform, Macquarie Technology Finance will relocate senior executives to CIT Systems Leasing’s offices in Bloomfield Hills to assist in integrating the business into Macquarie’s global platform. Following a transition period, the business will be re-branded and operate under the Macquarie name.

“The United States is the world’s largest equipment leasing market with over US$125 billion of new equipment financed annually. We believe that by dedicating senior Macquarie resources to work alongside the CIT Systems Leasing team, we can achieve significantly more growth in both North America and internationally than either business could have on its own. Our customers, partners and equipment vendors will benefit from a more sophisticated offering that is largely uniform across all of our business locations.” said Mr Gee.

CIT Systems Leasing employs approximately 180 staff, 130 of which are located in the Bloomfield Hills headquarters with the remaining 50 employees located around the U.S. and Canada in key sales locations. In addition to the acquisition by Macquarie of the business and lease portfolio, it is anticipated that existing CIT Systems Leasing employees will be offered employment with Macquarie and will remain in their current locations. CIT’s senior management team will remain with the business in key leadership roles and will continue to be led by Greg Goldstein.

Greg Goldstein, Managing Director of CIT Systems Leasing, said, "We are very excited about what this acquisition means for our business and our employees. Macquarie has a great reputation, a strong track record of successfully integrating businesses and an entrepreneurial spirit. For our customers, we are looking forward to providing access to the scale and global reach of an international equipment financing platform.”

Included as part of Macquarie’s acquisition of CIT Systems Leasing’s approximately US$700 million of assets is the assumption of US$160 million of existing non recourse external debt with the remainder of the purchase price initially funded by Macquarie. Following financial close the majority of the remaining portion initially funded by Macquarie is anticipated to be replaced by external debt financing. The impact on Macquarie Group’s capital position is not expected to be material.

The acquisition is subject to finalization of the employment of certain CIT Systems Leasing employees by Macquarie and customary regulatory approvals. Financial close

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is expected to occur by the end of 2007 with the transition period expected to be completed by March 2008.

Macquarie Securities (USA) Inc. acted as financial advisor to the Macquarie Group in relation to the transaction.

About CIT Systems Leasing

CIT Systems Leasing is one of the largest independent lessors of IT equipment in North America selling directly to corporate customers. Established in 1987 and headquartered in Bloomfield Hills, Michigan, CIT Systems Leasing provides equipment lease financing, asset management solutions and the remarketing of high-technology assets and capital equipment.

Contacts:

Richard Nelson

Investor Relations Macquarie Group Tel: +61 (2) 8232 5008 richard.nelson@macquarie.com

Paula Hannaford

Corporate Communications Macquarie Group Tel: +61 (2) 8232 4102 paula.hannaford@macquarie.com

Alex Doughty

Corporate Communications – New York Macquarie Group Tel: +1 (212) 231 1710 alex.doughty@macquarie.com