Macquarie makes Equity Capital Markets appointment

18 January 2005

Macquarie New Zealand Limited today welcomed the appointment of John Duncan as a Director, and responsible for Equity Capital Markets within its Investment Banking Group. Mr Duncan will be based in Auckland.

A New Zealander returning home, Mr Duncan has worked for Macquarie's Investment Banking Group for the past 11 years, most recently in its London office. Prior to London he was based in Macquarie's Hong Kong office.

Jim McLay, Executive Chairman of Macquarie New Zealand Limited, said the appointment of Mr Duncan was a significant one for Macquarie and a continuation of Macquarie's long term growth strategy in New Zealand.

”John Duncan brings with him an impressive track record of successful Investment Banking transactions. John has advised on many high-profile deals, including:

• the IPO of Promina Group Limited for Royal and SunAlliance plc in London, for which Macquarie was Joint Lead Manager;
• the acquisition of NTL Broadcast in the UK for Macquarie Communications Infrastructure Group; and
• the disposal/monetisation of British Telecom's shareholdings in Maxis (Malaysia), LG Telecom (Korea), StarHub (Singapore) and SmarTone (Hong Kong).

“Macquarie is considered the leading Equity Capital Markets house in Australia, and we hope to emulate that success here in New Zealand”, Mr McLay said.

About Macquarie
Macquarie New Zealand is a member of the Macquarie Group (Macquarie), a diversified provider of a full range of investment, financial market and advisory products and services in New Zealand, Australia and in select markets around the world. With over 6,000 staff in 23 countries and total assets under management of $74.4 billion*, Macquarie brings international investment expertise to New Zealand.

*Australian dollars as at 30 September, 2004

Neither Macquarie New Zealand Limited nor any member of the Macquarie Group is a registered bank in New Zealand.

For more information
John Duncan
Director
Macquarie New Zealand Limited
Ph. +64 9 357 6961
Email john.duncan@macquarie.com

Hon. Jim McLay
Executive Chairman
Macquarie New Zealand Limited
Ph. +64 9 357 5907
Email jim.mclay@macquarie.com