MACQUARIE & FOX-PITT KELTON COCHRAN CARONIA WALLERFUTURE COMBINED OFFERING TO FINANCIAL INSTITUTIONS

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Macquarie Group (“Macquarie”) (ASX: MQG; ADR: MQBKY) today announced it has

entered into an agreement to acquire Fox-Pitt Kelton Cochran Caronia Waller (“FPK”),

a leading specialist investment bank focused on financial institutions. The acquisition

will enhance Macquarie’s integrated offering to financial institutions around the world,

adding deep expertise in North America and Europe to complement Macquarie’s well-

established FIG position in the Asia-Pacific region.

A New Global Force in FIG

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Fox-Pitt Kelton Cochran Caronia Waller is a global specialist investment bank focused exclusively on the financial services sector.

As a top-ranked underwriter of equity securities and corporate advisor, FPK offers mergers and acquisitions, corporate restructuring, equity capital markets, and sales, trading and research services for banks, insurance companies and other financial services companies globally.

Founded in 1969 in Sydney, Macquarie Group is a diversified global financial services organization, providing banking, financial, advisory, investment and funds management services in all major financial markets.

Macquarie’s main business focus is providing a broad range of products and services to clients, including institutional, corporate and retail clients and counterparties around the world.

Over 600 institutional investor relationships

Deep sector knowledge across M&A and ECM

Trading and advisory

Coverage of over 450 financial services stocks in Europe, North America and Asia

In-depth and focused research

267 financial institutions professionals across 8 offices

Financial services specialist

Market capitalization of ~$US15 billion

Rated A+ (Fitch) / A (S&P)

Assets under management of $US190 billion (at 7/31/09)

Size and strength

Coverage of over 380 financial services stocks in Europe, North America and Asia

Comprehensive research coverage

70 office locations in 26 countries

Leading Asia-Pacific presence

Global reach

Specialist Financial Services Investment Bank

Global Securities, Advisory and Capital Markets Platform

Two Complementary Platforms

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One Global Force

REACHGlobal, full-service securities, capital markets and advisory offering to financial institutions

Leading Asia-Pacific presence delivering more to clients in a sector that demands an international perspective

SECTOR SPECIALIZATION

324 financial institutions professionals with deep expertise across advisory, capital markets, trading, distribution and research

CAPITALBalance sheet strength

Increased underwriting capacity and strong relationships with third party capital providers

Significant principal and agency private equity business enhances capabilities to partner with clients

PRODUCTS

Innovative and integrated product offering

Global sector research coverage; 24/7 distribution and execution; Convertibles and synthetics

Equity, debt and private capital markets; Securitization capabilities

Corporate advisory and restructuring

COMBINED, WE DELIVER…

…TO BRING CLIENTS AN INTEGRATED FINANCIAL INSTITUTIONS OFFERING AROUND THE WORLD

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International Reach

324 financial institutions professionals across 8 offices

Complementary fit with Macquarie’s well-established financial services presence in Asia-Pacific, creating a global FIG franchise

Deep sector knowledge with more than 250 financial services M&A advisory and technical professionals

Specialist global research coverage and distribution in major markets globally, providing research on 765 global financial stocks in Europe, North America and the Asia-Pacific region

Sales and trading expertise serving more than 1,700 international institutional clients globally in 26 financial centers

Member of 23 exchanges with distribution capabilities in all major financial centers globally

ASIA-PACIFIC99 FIG professionals

CANADA4 FIG professionals

EUROPE88 FIG professionals

AFRICA4 FIG

professionals

MIDDLE EAST 5 FIG professionals

USA124 FIG professionals

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FUTURE COMBINED RESEARCH COVERAGE OF 765 FINANCIAL SERVICES STOCKS

UndisclosedAdvisor to Liberty Mutual on sale of key assets to multiple buyers

US$63.3mnTexas Capital Bancshares follow-on offering

US$200mnAdvisor to GTCR on investment in Ironshore

UndisclosedAdvisor to Fortis in consortium acquisition of ABN Amro

2007

US$4.7bnAdvisor to Tokio Marine on its acquisition of Philly Consolidated

US$19.7bnIPO of Visa Inc

A$2.0bnQBE Insurance Group equity raising

2008

A$1.5bnCommonwealth Bank of Australia PERLS V equity raising

US$8.6bnWells Fargo follow-on offering

2009

HK$1.9bn

CHF16.0bn

Advisor to AXA Asia Pacific on its acquisition of Winterthur Life Hong Kong

UBS rights issue

SELECTED TRANSACTION EXPERIENCE

Sector Specialization

20South Africa

78South East Asia

32Taiwan

291United States

71United Kingdom

26India

52Hong Kong

48Europe

23Canada

49Australia/New Zealand

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48

Korea

Japan

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FUTURE FULL SPECTRUM GLOBAL FINANCIAL SERVICES OFFERING

Future Product Offering andGreater Access to Capital

Executing a broad spectrum of transactions in conjunction with capital sourcing capabilitiesUnique perspective as an investor as well as an advisor in identifying value maximization techniques

MERGERS AND ACQUISITIONS

Tailored risk management products through a global institutional derivatives platform

SYNTHETICS & INSTITUTIONAL DERIVATIVES

Dedicated team with strong experience in structuring and arranging a significant number of convertibles for clients in a wide range of industries

CONVERTIBLES & HYBRIDS

Arranging and distributing a range of private capital placementsAlternative debt and equity investment opportunities for investors

PRIVATE CAPITAL MARKETS

Arranging and placing billions of dollars of finance through the capital markets, bridging arrangements, bank syndications and subordinated debt placements

DEBT CAPITAL MARKETS

Raising new equity for private and public companies, and selling existing equity in public companiesArranging and distributing hybrid capital management instruments

EQUITY CAPITAL MARKETS

Specialist investment funds model and established track record investing in businessesHands-on asset management expertise and co-investing capability

Dedicated US restructuring teamRecapitalization, special situations capital raising, distressed M&A and strategic alternatives assessment

PRINCIPAL & CO-INVESTMENT

RESTRUCTURING

InsuranceBanking / Depository

Specialty finance

Marketstructure

Asset Management

FinancialInstitutions

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AUSTRALIA Sydney (Macquarie)No.1 Martin PlaceSydney NSW 2000Switch: (61 2) 8232 3333

Melbourne (Macquarie)Level 23, 101 Collins StreetMelbourne VIC 3000Switch: (61 3) 9635 8000

EUROPELondon (Macquarie)Level 35, CityPoint1 Ropemaker StreetLondon EC2Y 9HDSwitch: (44 20) 3037 2000

London (FPK)25 Copthall AvenueLondon EC2R 7BPSwitch: (44 20) 7663 6000

Paris (Macquarie)41 Avenue George V75008 ParisSwitch: (33 1) 5652 5450

Stockholm (Macquarie)Biblioteksgatan 1111 46, StockholmSwitch: (46 8) 1203 7400

ASIAHong Kong (Macquarie)Level 18, 1 International Finance Centre, 1 Harbour View StreetCentral Hong KongSwitch: (85 2) 3922 1888

Hong Kong (FPK)3108, 31/F, Central Plaza, 18 Harbour RoadWanchai, Hong KongSwitch: (85 2) 3191 8588

Beijing (Macquarie)Suite 1702, Block E2The Towers, Oriental PlazaNo.1 East Chang An AvenueDong Cheng DistrictBeijing 100738Switch: (86 10) 6521 6000

Singapore (Macquarie)23 Church Street#11-11 Capital SquareSingapore 049481Switch: (65) 6231 1111

Tokyo (Macquarie)23F The New Otani Garden Court4-1 Kioi-cho, Chiyoda-kuTokyo 102-0094Switch: (81 3) 3512 7500

Tokyo (FPK)Moto-Akasaka MI Building 4F 1-3-26 Moto-Akasaka, Minato-ku, Tokyo 107-0051Switch: (81 3) 6739 1305

India (Macquarie)Level 4, Earnest HouseNCPA Marg. Nariman PointMumbai 400 021Switch: (91 22) 4230 1200

Indonesia (Macquarie)The Indonesia Stock Exchange Building, Tower I, 8th FloorJalan Jenderal Sudirman,Kav. 52-53, Jakarta 12190Switch: (62 21) 515 1818

Seoul (Macquarie)9F Hanwha Building110 Sogong-dong, Jung-guSeoul 100-755Switch: (822) 3705 8500

Chicago (Macquarie)Suite 5300 Sears Tower233 South Wacker DriveChicago IL 60606 Switch: (1 312) 756 3800

Chicago (FPK)One South Wacker DriveSuite 2700Chicago, IL 60606Switch: (1 312) 425 9335

West Hartford (FPK)970 Farmington Avenue - Suite 205West Hartford, CT 06107Switch: (1 860) 380 2000

Boston (FPK)50 Congress StreetSuite 935 Boston, MA 02109Switch: (1 617) 723 5300

San Francisco (Macquarie)Two Embarcadero CenterSuite 200San Francisco CA 94111Switch: (1 415) 762 5000

San Francisco (FPK)100 Pine StreetSuite 1850, San Francisco,CA 94111Switch: (1 415) 834 0700

Toronto (Macquarie)Brookfield Place, 181 Bay StreetSuite 3100, TorontoOntario M5J 2T3Switch: (1 416) 848 3500

Global Financial Services Locations

Bangkok (Macquarie)28th Floor, CRC Tower,All Seasons Place87/2 Wireless Road, Lumpini, Patumwan, Bangkok 10330Switch: (662) 694 7999

Taipei (Macquarie)5/F New Concord BuildingNo. 2, Section 1, Fushin South RoadTaipei 10492Switch: (886 2) 2734 7500

MIDDLE EASTAbu Dhabi (Macquarie)18th FloorCnr of Electra & Salam StreetAbu DhabiSwitch: (971) 2 696 2155

SOUTH AFRICAJohannesburg (Macquarie)The Place, South Building1 Sandton DriveSandown 2146 JohannesburgSwitch: (27 11) 583 2000

NORTH AMERICANew York (Macquarie)125 West 55th Street22nd FloorNew York NY 10019Switch: (1 212) 231 1000

New York (FPK)420 Fifth Avenue5th FloorNew York NY 10018Switch: (1 212) 687 1105

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