Macquarie Group to acquire Giuliani Capital Advisors

06 March 2007

Macquarie Group (Macquarie) today announced that it has entered into an asset purchase agreement to acquire the business and assets of Giuliani Capital Advisors LLC (GCA). Financial details of the transaction were not disclosed.

With approximately 100 employees and offices in Chicago, New York, Los Angeles, Atlanta and Troy, Michigan, GCA is a boutique investment banking firm specializing in providing restructuring and mergers and acquisitions advisory services to companies dealing with complex business challenges, strategic transactions or financial distress.

Murray Bleach, Head of Macquarie’s Investment Banking Group in North America and co-CEO of Macquarie Securities (USA) Inc., said, “The acquisition of GCA is a significant strategic step forward for Macquarie and a highly complementary addition to our North American investment banking business. GCA provides Macquarie with an opportunity to build upon and expand our existing U.S. capabilities, particularly in corporate restructuring transactions. At the same time we gain access to a wider geographic footprint of M&A professionals and clients, providing greater reach for our existing infrastructure, utilities, oil & gas, real estate, TMET and industrials expertise.”

Nicholas Moore, Global Head of Macquarie’s Investment Banking Group, said the acquisition will be an excellent outcome for clients. “Combining these two businesses under the Macquarie name will enable GCA clients to continue to receive the strategic advice of GCA’s experienced professionals they know and trust while benefiting from Macquarie’s access to capital and global reach. We are committed to maintaining the same high level of service that GCA’s clients have come to expect from GCA.

“We are particularly excited by the quality of people and relationships at GCA. It will increase our Investment Banking Group staff in North America from approximately 350 to just over 450. Ultimately we’re in a people business, and our focus will be to ensure that our new colleagues have rewarding and successful careers at Macquarie,” said Mr Moore.

Macquarie noted that the transaction will not have a material impact on Macquarie’s balance sheet but is a significant transaction because of its strategic potential for the Investment Banking Group in North America.

Under the terms of the agreement, following a transition period GCA’s platform and employees will become part of Macquarie Securities (USA) Inc., a US-registered brokerdealer. GCA’s current office locations will operate as Macquarie offices.

Completion of the purchase is subject to finalization of the employment of GCA staff by Macquarie and regulatory approvals. Financial close is expected to occur in April, 2007 with the transition period expected to be completed by the end of June, 2007.

About Macquarie
The Macquarie Group (Macquarie) is a diversified international provider of specialist investment, advisory, trading and financial services in select markets around the world with $140 billion of total assets under management (as of December 31, 2006). Headquartered in Sydney, Australia, Macquarie comprises Macquarie Bank, the leading Australian investment bank, and its worldwide affiliated entities. Macquarie Bank is a top 15 company listed on the Australian Stock Exchange with a market capitalization of approximately $15 billion as of March 1, 2007. Macquarie employs over 9,600 people in 24 countries.

Since 1992 Macquarie has reported successive years of record profits and consistent growth. Our approach is driven by a deliberate focus on areas of business where our particular skills and expertise deliver a real advantage for clients. As a result we have established leading positions in a diverse range of market segments and regions internationally. Technical expertise, strong risk management and an enterprising approach underlie all activities.

Macquarie has a significant and expanding presence in North America, having been active in the region for over a decade. Today we have more than 800 professionals in offices in 21 locations. Macquarie’s investment banking advisory services in the region include project financing, public private partnerships (PPPs), mergers and acquisitions and other corporate, strategic and financial advice. Macquarie has teams dedicated to providing investment and advisory advice in major sectors including infrastructure, utilities, oil & gas, real estate, industrials and TMET (Telecommunications, Media, Entertainment and Technology).

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About Giuliani Capital Advisors
Giuliani Capital Advisors LLC (GCA) is a financial advisory and investment banking firm comprised of senior level professionals who provide lead advisory services to public and private companies, lenders, and other parties-in-interest that are executing financial and strategic transactions. GCA provides a full range of capital raising, mergers and acquisitions, and financial and operational restructuring services.

About Giuliani Partners LLC
Giuliani Partners LLC is a management consulting firm dedicated to helping leaders solve critical strategic issues, accelerate growth, and enhance the reputation and brand of their organizations in the context of strongly held values. The firm, whose Chairman and CEO is Rudolph W. Giuliani, former Mayor of New York, offers expertise in innovative financial management, public safety, emergency preparedness and leadership during crises.

For further information, please contact

Lisa Jamieson
Public Relations
Macquarie Bank Limited
Tel: (612) 8232 6016
Mobile: 0416 237 332

Matthew Russell
Public Relations
Macquarie Bank Limited
Tel: (612) 8232 4102
Mobile: (614) 1069 9532

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