Smart Series 2007-3E Trust A$780 million equivalent auto backed securitisation issue priced

19 November 2007

Macquarie Debt Markets today announced that the SMART Series 2007-3E Trust, a securitisation issue of automobile receivables, has been priced.

The SMART Series 2007-3E Trust issue comprises the following securities with a final maturity date of 14 November 2008 (for Class A-1 Notes) and 14 November 2014 (for all other classes):

* The Class D, E & Seller Notes were not offered for sale

Macquarie Leasing Pty Limited, a subsidiary of the Macquarie Group, is the originator of the assets and will also be the servicer of the portfolio. The trustee of the SMART Series 2007-3E Trust, Perpetual Trustee Company Limited, is the issuer of the asset backed securities.

Adrian Bentley, Head of Debt Finance at Macquarie said: “We are pleased with the investor support for this transaction, specifically in Europe where very few securitised transactions have been completed since the market disruption. The A-2E tranche is the first ever Australian ABS transaction to be denominated in EUR. It provided a rare diversification opportunity for Euro investors who appreciated the high quality of the Australian collateral, and as a result broadened the investor base for the SMART program.

“Despite the current challenging conditions in the debt capital markets, the transaction was upsized from $500million to $780million”.

Eleven banks and institutional investors participated in the transaction, a number of who have not previously invested in the SMART programme.

Macquarie is Arranger, Sole Lead Manager and Bookrunner for the transaction.

The issue is due to settle on 22 November 2007.

For further information, please contact:

Adrian Bentley
Macquarie Group
Treasury & Commodities Group
Tel: +61 2 8232 8584

Jamie Darwen
Macquarie Group
Treasury & Commodities Group
Tel: +61 2 8232 3056