Perpetual Limited — Major Shareholding Notification 2004

Nov 29, 2004

Form 604

Corporations Law Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme MACQUARIE PROLOGIS TRUST ACN/ARSN 100 649 536 1. Details of substantial holder (1) PERPETUAL TRUSTEES AUSTRALIA LIMITED Name 000 431 827 ACN (if applicable) There was a change in the interests of the Substantial holder on $-29$ / 11 / 2004 The previous notice was given to the company on $-22$ /-10 /-2004 The previous notice was dated $-21$ / $10$ / $2004$ $-$

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary	39,639,967	5.26%	48,518,247	6.36%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
	Refer annexure 3

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest $(6)$	Class and number of securities	Person's votes
	Refer annexure 1 & 2

5. Changes in association

The persons who have become associates $(2)$ of, ceased to be associates of, or have changed the nature of their association $(9)$ with, the substantial holder in relation to voting interests in the company or scheme are

Name and ACN (if applicable)	Nature of association
Refer to Annexure 1

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Refer to Annexure 1

Signature

Print name JOANNE HAWKINS COMPANY SECRETARY Capacity

Perpetual Investments Account Codes & Details

INTERNAL CODE	ACCOUNT DETAILS	REGISTRATION DETAILS
PIHEST	RBC Global Services Australia Nominees Pty Limited ACF: HEST Australia Limited Account Code: PIHEST GPO Box 5424 Sydney NSW 2001	JP Morgan Chase Nominees Locked Bag 7, Royal Exchange Sydney NSW 2000
PMISF1	RBC Global Services Australia Nominees Pty Limited ACF: Perpetual's Industrial Share Fund Account Code: PIISF1 GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMISF2	RBC Global Services Australia Nominees Pty Limited ACF: Perpetual's Industrial Share Fund Account Code: PIISF2 GPO Box 5424 Sydney NSW 2000	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMISFJ	RBC Global Services Australia Nominees Pty Limited ACF: Perpetual's Industrial Share Fund Account Code: PIISFJ GPO Box 5424 Sydney NSW 2000	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PIJUTD	Permanent Trustee Australia Ltd ACF: PI United Sector Property Fund. Account Code: SMF0024. C/- RBC Global Services Australia Pty Limited GPO Box 5424 Sydney NSW 2001	Permanent Trustee Australia Ltd GPO Box 4270 Sydney NSW 2000
NSWTC	Cogent Nominees Pty Ltd ACF NSW Treasury Corporation. Account Code: PINSWT RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	Cogent Nominees Pty Limited P.O. Box R209, Royal Exchange, Sydney NSW 1225
PIEFM6	Cogent Nominees Pty Ltd ACF EFM Australian Share Fund 6 Account Code: PIEFM6 RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	Cogent Nominees Pty Limited A/C: WTXME6, P.O. Box R209, Royal Exchange, Sydney NSW 1225
ARF	JP Morgan Chase Nominees Ltd ACF: Australian Retirement Fund, Account Code: PIARF, RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	JP Morgan Chase Nominees Locked Bag 7, Royal Exchange Sydney NSW 2000
PIACT	JP Morgan Chase Nominees Ltd ACF: Australian Capital Territory Treasury. Account Code: PIACT RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	JP Morgan Chase Nominees Locked Bag 7, Royal Exchange Sydney NSW 2000
PIFIJI	National Nominees Limited ACF: Fiji National Provident Fund Account Code: PIFIJI, RBC Global Services Australia Nominees Pty Ltd GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services A/C FNPEAE. 5th Floor South 271 Collins Street Melbourne VIC 3000
SMF	Permanent Trustee Australia Ltd ACF: SMF Funds Management Account Code: PISMF. RBC Global Services Australia Pty Limited GPO Box 5424 Sydney NSW 2001	Permanent Trustee Australia Ltd GPO Box 4270 Sydney NSW 2000

GSF	RBC Global Services Australia Nominees Pty Limited. ACF: Perpetual Australia Share Fund. Account Code: PIGSF GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMSCA	RBC Global Services Australia Nominees Pty Limited ATF: Perpetual's Smaller Companies Analyst Fund Account Code: PISCA. GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMCBUS	National Nominees Ltd ACF: Construction & Building Union Superannuation Fund Account Code: PICBUS, RBC Global Services Australia Nominees Pty Limited. GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services 5th Floor South, 271 Collins Street Melbourne VIC 3000
PPSF	RBC Global Services Australia Nominees Pty Limited ATF: Perpetual Property Securities Fund Account Code: PIPSF, GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
ICIS	RBC Global Australia Nominees Pty Limited ACF: Perpetual Investor Choice Industrial Asset Group Account Code: PISIND GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
ICAS	RBC Global Services Australia Nominess Pty Limited. ACF: Perpetual Investor Choice Australian Asset Group. Account Code: PIICAS GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
ICSC	RBC Global Services Australia Nominees Pty Limited. ACF: Perpetual Investor Choice Smaller Asset Group Account Code: PISSCF. GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMHOST	JP Morgan Chase Nominees Limited ACF: Host - Plus Pty Ltd Accoutn Code: PIHOST, RBC Global Services Australia Nominees Pty Limited, GPO Box 5424 Sydney NSW 2001	JP Morgan Chase Nominees Locked Bag 7, Royal Exchange Sydney NSW 2000
ALL 'PC' CODES	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
ALL 'SS' CODES	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMONE	National Nominees Limited ACF: OneSteel Superannuation Fund Account Code: PIONE, RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services OneSteel Superannuation Fund OSPEAE / 6571-17 5th Floor South 271 Collins Street Melbourne VIC 3000

PCEF	RBC Global Services Australia Nominees Pty Limited, Account Code: PICEF GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
QITE2	RBC Global Services Australia Nominees Pty Limited AFT: Quantitative Investments TE 2 Equity Fund. Account Code: PIQTE2 GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PIMIT	Guardian TrustAustralia Ltd ACF: Perpetual James Fielding Meridian Investment Trust Account code PIMIT. RBC Global Services Australia Nominees Pty Ltd GPO Box 5424 Sydney NSW 2001	Guardian Trust Australia Ltd <meridian A/C> GPO Box 469 Sydney NSW 2001</meridian
PIWGAF	UBS Nominee Pty Ltd ACF: Perpetual Wholesale Geared Australian Share Fund Account code PIWGAS. RBC Global Services Australia Nominees Pty Ltd GPO Box 5424 Sydney NSW 2001	UBS Nominee Pty Ltd <prime brokingA/C> Level 25, 1 Farrer Place Govenor Phillip Tower Sydney NSW 2000
PIWSPF	UBS Nominee Pty Ltd ACF: Perpetual Wholesale Share Plus Fund Account code PIWSPF, RBC Global Services Australia Nominees Pty Ltd GPO Box 5424 Sydney NSW 2001	UBS Nominee Pty Ltd <prime brokingA/C> Level 25, 1 Farrer Place Govenor Phillip Tower Sydney NSW 2000
PMSTA	National Nominees Limited ACF: Super Trust of Australia Account Code: PISTA. RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services 5th Floor South 271 Collins Street Melbourne VIC 3000
PMWSCM	RBC Global Australia Nominees Pty Limited ACF: Perpetual Wholesale Smaller Co Fund Account Code: PIWSCF, GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMWSCS	RBC Global Australia Nominees Pty Limited ACF: Perpetual Wholesale Smaller Co Fund Account Code: PIWSCF. GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
AMCORP	National Nominees Ltd ACF: IOOF Account. Account Code: PIAMC RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services A/C ATPFAE 6822 - 16. 5th Floor South 271 Collins Street Melbourne VIC 3000
TEL	National Nominees Limited ACF: Telstra Superannuation Pty Limited Account Code: PITEL RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services A/C 3093-15 TSPPAE 5th Floor South 271 Collins Street Melbourne VIC 3000
PMFR	Westpac Custodian Nominees ACF: Frank Russell Investment Management Account Code: PIMFR RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	Westpac Custodian Nominees State Street Fund BQ8D Level 9 / 50 Pitt Street Sydney NSW 2000
PMCPSF	Citicorp Nominees Pty Ltd ACF:Commonwealth Property Fund 3 Account Code: PICPSF. RBC Global Services Australia Pty Ltd, GPO Box 5424 Sydney NSW 2001	Citicorp Nominees Pty Ltd A/C EPSS03 GPO Box 764G Melbourne VIC 3001

PMCGSF	Citicorp Nominees Pty Ltd ACF: Commonwealth Aust Shares Fund 11 Account Code: PICGSF RBC Global Services Australia Pty Ltd GPO Box 5424 Sydney NSW 2001	Citicorp Nominees Pty Ltd A/C EASS11 GPO Box 764G, Melbourne VIC 3001
CBAISF	Citicorp Nominees Pty Ltd. ACF: Commonwealth Aust Shares Fund 4. Account Code:PICISF, RBC Global Services Australia Pty Ltd GPO Box 5424 Sydney NSW 2001	Citicorp Nominees Pty Ltd A/C EASS04 GPO Box 764G, Melbourne VIC 3001
PMWSRF	RBC Global Services Australia Nominess Pty Limited. ACF: Perpetual Wholesael Ethical Fund Account Code: PIWSRF GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PWSCF	RBC Global Services Australia Nominess Pty Limited. ACF: Perpetual Wholesale Smaller Co. Fund Account Code: PIWSCF GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PTGEN	Perpetual Trustee Services General A / C Account Code: PTPGEN RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
PTAL	Perpetual Trustees Australia Limited Account Code: PTAL RBC Global Services Australia Nominees Pty Limited Level 19 / 1 Castlereagh Street Sydney NSW 2000	RBC Global Services Australia Nominees Pty Limited GPO Box 5430, Sydney NSW 2000
PTQLD	Perpetual Trustee Queensland Limited Account Code: PTQLD RBC Global Services Australia Nominees Pty Limited Level 19 / 1 Castlereagh Street Sydney NSW 2000	RBC Global Services Australia Nominees Pty Limited GPO Box 5430, Sydney NSW 2000
PTCO	Perpetual Trustee Co. Limited Account Code: PTPCO RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
PTNM	P.T.A. Nominees Limited ATF: Perpetual Trustees Nominees Limited Account Code: PTPNM RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PTVIC	Perpetual Trustee Victoria Limited Account Code: PTNM RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
PNOM	Perpetual Nominees Pty Limited Account Code: PTPNOM RBC Global Services Australia Nominbees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001

PTAN	Perpetual Nominees Limited Account Code: PTPAN RBC Global Services Australia Nominees Pty Limited, GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
PML	Perpetual Management Limited Account Code: PTPML RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
PTWA	Perpetual Trustee WA Limited Account Code: PTPWA RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
Τ2	Perpetual Trustee Company Limited Private Client Division )	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000
Τ3	Perpetual Trustees Victoria Limited Private Client Division )	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000
Τ4	Perpetual Trustees Queensland Limited Private Client Division )	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000
Τ6	Perpetual Trustees WA Limited Private Client Division )	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000
T7	Perpetual Trustee Company Canberra Limited (Private Client Division)	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000
DIRECTOR	Perpetual Trustees Australia Limited, Directors Personal Holdings	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000

PRESENT RELEVENT INTERESTS

Ele	Summary (Perpetual Trustees)
MPR (MACQ PROLOGIS TRUST)		∫Portfolios
Patolio	Fund	Holdings
MADE RE	PM	35.143
ARF هجر	PМ	138,388
GSF حمل	PM	409,966
ICAS همها	PM	58,454
ICIS حميد	РM	4,060,652
ICSC حميد	PM	5,550,866
NSWTC همها	PM	80,354
SMF فلمحلقا	PM	19,152
TEL	PM	122.095
T2	PCD	45,794
PMCGSF	PM	41.377
PMISEJ	PM	529,424
PMWSCM	PM	1,594,039
PMWSCS	PM	5,110,578
CBAISF	PM	1,833,418
PMISF2	PM	24,849,676
PIWGAF	PM	29.620
PIWSPF	PM	5,951
PIMIT	PM	987,562
PIEFM6	PM	3,015,738

CHANGES IN RELEVANT INTERESTS

Account	Security	Volume		Value	Price	AsAtDate
PIMIT	MPR	800,000	$\overline{a}$	928,000	\$ 1.16	22/10/2004
PIMIT	MPR	800,000	$\overline{a}$	920,000	\$ 1.15	25/10/2004
PIMIT	MPR	450,000	$\overline{a}$	517,500	\$ 1.15	26/10/2004
PIMIT	MPR	250,000		287,500	\$ 1.15	01/11/2004
PIMIT	MPR	174,839		206,310	\$ 1.18	05/11/2004
PIMIT	MPR	750,000		855,000	\$ 1.14	25/11/2004
ICSC	MPR	82,841		95,267	\$ 1.15	01/11/2004
ICSC	MPR	306,736		346,612	\$ 1.13	24/11/2004
ICSC	MPR	192,549		217,580	\$ 1.13	29/11/2004
PMWSCS	MPR	111,617		128,360	\$ 1.15	01/11/2004
PMWSCS	MPR	193,264		218,388	\$ 1.13	24/11/2004
PMWSCS	MPR	207,451		234,420	\$ 1.13	29/11/2004
PMISF2	MPR	1,481,416		1,733,257	\$ 1.17	22/10/2004
PMISF 2	MPR	737,836		841,133	\$ 1.14	27/10/2004
PMISF2	MPR	384,653		442,351	\$ 1.15	01/11/2004
PMISF 2	MPR	363,440		410,687	\$ 1.13	24/11/2004
PMISF2	MPR	733,877		829,281	\$ 1.13	26/11/2004
PMISF 2	MPR	883,752		998,640	\$ 1.13	29/11/2004
ICIS	MPR	236,368		276,551	\$ 1.17	22/10/2004
ICIS	MPR	115,615		131,801	\$ 1.14	27/10/2004
ICIS	MPR	56,084		64,497	\$ 1.15	01/11/2004
ICIS	MPR	55,229		62,409	\$ 1.13	24/11/2004
ICIS	MPR	118,668		134,095	\$ 1.13	26/11/2004
ICIS	MPR	144,519		163,306	\$ 1.13	29/11/2004
CBAISF	MPR	103,094		120,620	\$ 1.17	22/10/2004
CBAISF	MPR	60,161		68,584	\$ 1.14	27/10/2004
CBAISF	MPR	24,905		28,890	\$ 1.16	09/11/2004
CBAISF	MPR	81,331		91,904	\$ 1.13	24/11/2004
CBAISF	MPR	62,135		70,213	\$ 1.13	26/11/2004
CBAISF	MPR	66,502		75,147	\$ 1.13	29/11/2004
PPSF	MPR	67,311	$\overline{a}$	77,408	\$ 1.15	17/11/2004
PIJUTD	MPR	9,248		10,450	\$ 1.13	29/11/2004
PMCPSF	MPR	9,341		10,742	\$ 1.15	17/11/2004
PIEFM6	MPR	179,122		209,573	\$ 1.17	22/10/2004
PIEFM6	MPR	86,388		98,482	\$ 1.14	27/10/2004
PIEFM6	MPR	46,892		53,926	\$ 1.15	02/11/2004
PIEFM6	MPR	16,000	$\overline{\phantom{a}}$	18,080	\$ 1.13	22/11/2004
PIEFM6	MPR	85,320		96,412	\$ 1.13	26/11/2004
PIEFM6	MPR	105,227		118,907	\$ 1.13	29/11/2004
PMISFJ	MPR	112,127		126,704	\$ 1.13	18/11/2004
PMISFJ	MPR	417,297		471,546	\$ 1.13	24/11/2004
CBAISF	MPR	7,514		8,491	\$ 1.13	18/11/2004
CBAISF	MPR	28,147		31,806	\$ 1.13	24/11/2004
PIWSPF	MPR	1,258		1,422	\$ 1.13	18/11/2004
PIWSPF	MPR	4,693		5,303	\$ 1.13	24/11/2004
ICIS	MPR	18,126		20,482	\$ 1.13	18/11/2004
ICIS	MPR	67,505		76,281	\$ 1.13	24/11/2004
PIWGAF	MPR	5,824		6,581	\$ 1.13	18/11/2004
PIWGAF	MPR	23,796		26,889	\$ 1.13	24/11/2004

MPR	17,076	19,296	\$ 1.13	18/11/2004
MPR	63.278	71.504	\$ 1.13	24/11/2004
MPR	29.664	33.520	\$ 1.13	18/11/2004
MPR	108,724	122,858	\$ 1.13	24/11/2004
MPR	12,733	14,388	\$ 1.13	18/11/2004
MPR	46,051	52,038	\$ 1.13	24/11/2004
MPR	1.651		\$
MPR	25,947	29,320	\$ 1.13	18/11/2004
MPR	96,148	108.647	\$ 1.13	24/11/2004
MPR	8,802	9,946	\$ 1.13	18/11/2004
MPR	32,575	36,810	\$ 1.13	24/11/2004
MPR	7,556	8,538	\$ 1.13	18/11/2004
MPR	27.587	31,173	\$ 1.13	24/11/2004
MPR	86,900	98,197	\$ 1.13	18/11/2004
MPR	323,066	365,065	\$ 1.13	24/11/2004
MPR	4.057	4.584	\$ 1.13	18/11/2004
MPR	15,095	17,057	\$ 1.13	24/11/2004
MPR	12.416	14.030	\$ 1.13	18/11/2004
MPR	46.038	52,023	\$ 1.13	24/11/2004
MPR	224.655	253.860	\$ 1.13	24/11/2004
MPR	900,005	1,017,006	\$ 1.13	26/11/2004
MPR	181,301	204,870	\$ 1.13	29/11/2004
MPR	275,345	311,140	\$ 1.13	24/11/2004
MPR	1.099.995	1,242,994	\$ 1.13	26/11/2004
MPR	218,699	247,130	\$ 1.13	29/11/2004