MACQUARIE TECHNOLOGY GROUP LIMITED — Board/Management Information 2004

Jul 25, 2004

26 July 2004

Macquarie Corporate Telecommunications Holdings Limited announces new Board members

- Mr John Palfreyman and Mr Stephen Butler to join Board -- Mr Robert Kave appointed Interim Chairman -- Confirms quidance for FY04 -

The Board of Directors of Macquarie Corporate Telecommunications Holdings Limited (ASX: MAQ) is pleased to announce the appointment of two Non-Executive Directors. Mr John Palfreyman and Mr Stephen Butler, effective today, and the appointment of Non-Executive Director Robert Kave as Interim Chairman.

Both new Non-Executive Directors bring considerable information technology, telecommunications. Australian industry and corporate experience to the Macquarie Board.

Mr Palfreyman's career spans more than 20 years in the IT industry. Mr Palfreyman was Executive Chairman of 90East Inc, one of Australia's largest suppliers of managed security services to federal government agencies, until the company's successful trade sale in early 2004. Previously Mr Palfreyman was Managing Director of Baltimore Technologies (Asia Pacific), the region's dominant supplier of public key infrastructure based e-commerce and enterprise security systems.

Mr Butler is currently Executive Vice President for S3 Matching Technologies, a telco billing systems specialist based in Texas, USA, Mr Butler was formerly Chief Executive Officer of PowerTel in Australia, a position he held for more than three years until 2003. During this time, Mr Butler led the transformation of PowerTel from a construction focused company to a customer service company, driving revenue growth and achieving positive operating cash flow. Mr Butler has held board positions with PowerTel and WilTel Communications Australia, and advisory board positions with Newbridge Networks, Argon Networks and Edge Broadband Limited.

Current Non-Executive Director Robert Kaye has been appointed Interim Chairman. Mr Kaye, a former Managing Director of British Telecom's Australian operations and a 45-year veteran in the telecommunications and information technology industry. joined the Macquarie Board in June 2001.

The Company reaffirms its Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) quidance for full year (FY04) of \$7.4 million to \$8.7 million.

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For more information, please contact:

Chris Savage, Savage & Horrigan: (02) 8281 3231 or 0404 012 266