Press Release

Spirit Finance Corporation to be acquired by Macquarie-led consortium

New York, 14 March 2008

Macquarie Bank Limited (MBL) notes the attached announcement regarding its participation as a member of a consortium that has entered into a definitive merger agreement to acquire all of the outstanding shares of US real estate investment trust, Spirit Finance Corporation.

MBL is contributing equity of approximately $US250m ($A320m) for a lead minority stake in the consortium. The investment is not expected to have a material impact on the Bank's Tier 1 capital ratio.

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