14 November 2006 - Macquarie Global Property Advisors (“MGPA”), a private equity real estate fund management company, announces that on behalf of its Global Fund 1 it has agreed to sell Akeler, a business park development company, to Macquarie Goodman in a transaction with a total value of £640 million (including joint venture interests).

MGPA acquired Akeler in 2002 for a total price of £280.5 million for its Global Fund 1, LLGP Sicaf. Akeler was the largest single investment made by the US$1.7 billion Fund. Since acquisition, MGPA has restructured the management team and repositioned the Company into an integrated business with diversified revenue streams built upon its reputation as an award winning office park developer in the UK and Europe. Andrew Wood, Chief Operating Officer of MGPA said, “Akeler has been an excellent investment. It was acquired with the goal of creating a valuable platform that leveraged the opportunities in the development pipeline and the existing portfolio of quality real estate assets. The company owns real estate assets in 14 locations with 1.75 million square feet built, or under construction, and land under control capable of providing a further 5.2 million square feet across the UK and Europe. The successful execution of our plan is what attracted Macquarie Goodman and enabled us to achieve such our investment goals for this investment.”

James Cole, Akeler CEO said “MGPA’s close and supportive relationship with Akeler over the past four years has allowed us to transform and grow the business substantially. They have facilitated a successful repositioning of the company into one that now has one of the best development teams in our market.”

“We are proud of our achievements over the last few years and are excited by the prospects that are presented by joining a growing and dynamic business such as Macquarie Goodman” Chief Executive Officer of Macquarie Goodman, Gregory Goodman, said, “Akeler is an important strategic acquisition for Macquarie Goodman. We have held the Akeler management team in high regard for some time and are delighted to have them join our business”

In September 2005, MGPA closed a second global property fund with commitments of approximately US$1.3 billion. The Fund has already invested in 11 properties in Europe including a pan-European portfolio of office and logistics properties, office properties in Warsaw and Paris and a logistics development company in France, and will be fully committed within the next eight weeks.

Notes for Editors

Neither Macquarie Global Property Advisors nor Macquarie Bank has any ongoing financial stake in Macquarie Goodman.

Macquarie Global Property Advisors is a private equity group focused on real estate investment in Asia and Europe.

Through its headquarters in Bermuda and network of offices in Hong Kong, Tokyo, Seoul, London and Luxembourg, MGPA manages over US$3.1 billion in assets in Hong Kong, Korea, Japan, China, the United Kingdom, Italy, the Netherlands, Belgium, Switzerland,Germany, France and Poland. Its managed investments include development and redevelopment projects, joint-venture investments and real estate operating companies in the office, retail, industrial and residential sectors.

Owned by its Principals and Macquarie Bank Limited, a pre-eminent Australian bank providing investment banking and financial services, MGPA was formed in February 2004 as the result of a management buyout from Lend Lease Corporation of its Global Fund investment advisory platform.

For more information about Macquarie Global Property Advisors please visit www.macquarie-gpa.com

Akeler

Akeler is an international office and business park developer and investor and the property partner of choice for many of the top 250 global companies. Akeler provides high quality office developments in the UK and on the continent, which are focused on providing occupiers with the best possible working environment. Its award-winning offices and business park projects are designed to provide modern, highly flexible and environmentally sensitive corporate accommodation in prominent locations across Europe.

For more information about Akeler please visit www.akeler.com

Macquarie Goodman Group (“Macquarie Goodman”)

Macquarie Goodman (ASX code: MGQ) is a publicly listed, integrated property group that focuses on the ownership, management and development of industrial property and business space throughout Asia Pacific and Europe, backed by a dedicated team of over 850 property professionals.