Macquarie Securitisation announces $A2.1 Billion PUMA Global Trust No. 5 Bond Issue

03 November 2006

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS

Macquarie Securitisation Limited, the manager of the PUMA residential mortgage backed securitisation programme, today announced an $A2.1 billion bond issue to be known as PUMA Global Trust No. 5. This transaction will consist of $US750m Class A-1 notes, $A400m Class A-2 notes, €400m Class A-3 notes and $A55m Class B notes.

Macquarie Securitisation’s Australian Treasurer, Andrew Greer said “This is Macquarie Securitisation’s sixth global bond issue and is the first to include a tranche denominated in Euros. The Class A-1 and Class A-3 senior notes will have a weighted average life to the call date of approximately 2.8 years and the Class A-2 senior notes 2.7 years. The senior notes are expected to be rated AAA by Standard & Poor’s Ratings Group and Aaa by Moody’s Investors Service.  The Class B subordinated notes provide approximately 2.6 per cent subordination to all Class A notes, and have a weighted average life to the call date of approximately 6.0 years and are expected to be rated AA by Standard & Poor’s and Aa2 by Moody’s.  The $A notes will be issued at a margin to the one month bank bill rate. The US dollar denominated notes will be issued at a margin to three month LIBOR and the Euro denominated notes will be issued at a margin to three month EURIBOR.”

“The Global Trust No. 5 bond issue is expected to be collateralised by a pool of 100% verified income mortgage loans, with a weighted average current loan to value ratio of approximately 73 per cent and a weighted average seasoning of approximately 12 months. The loans carry lenders mortgage insurance provided by either Genworth Financial Mortgage Insurance, PMI Mortgage Insurance, or the Commonwealth of Australia” said Mr Greer.

Citigroup and Deutsche Bank AG are joint lead managers and book runners for the Class A-1, Class A-3 and Class B notes. Deutsche Bank AG and Macquarie Bank Limited are joint lead managers and book runners for the Class A-2 notes. The Royal Bank of Scotland and Macquarie Bank Limited (or their affiliates) are co-managers for the Class A-1 and Class A-3 notes. The PUMA Global Trust No. 5 notes will be marketed to institutional investors in various jurisdictions in Europe, Asia and Australia, and solely with respect to the Class A-1 notes, the United States. Marketing will commence November 6 and the issue is expected to price on or before November 17, 2006.

As manager of the PUMA Programme, Macquarie Securitisation Ltd has raised a total of $A31.6 billion in 34 separate issues since 1993, involving 24 public issues in Australia, five public issues in the European markets and five global issues.

For more information please contact:

Belinda Allchin
Media Relations
Macquarie Bank Limited
Tel: (612) 8232 3294

Matthew O'Hare
Head of Funding
Macquarie Securitisation Limited
Tel: (612) 8232 3481