Press Release

Macquarie consortium signs merger agreement to acquire Puget Energy

Washington D.C., 29 October 2007

Macquarie Bank Limited (MBL) today notes the attached release made in Bellevue, Washington (USA) on 26 October 2007 regarding the signing of a merger agreement between a Macquarie Consortium and Puget Energy.

MBL advises that it has committed US$500m for an approximate 16% stake in the consortium.

MBL also advises that the impact of the transaction on its current Tier 1 capital ratio is not expected to be material.

 

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