MCG Confirms Distribution for Period Ending 31 December 2004

15 December 2004

Macquarie Communications Infrastructure Group (MCG) is pleased to announce the confirmation of its interim distribution for the six month period ending 31 December 2004.

No portion of the distribution will carry imputation credits. Final details of the tax components of the distribution will not be available until August 2005, however it is expected that a portion of the distribution will comprise a "deferred tax" component.

MCG does not give tax advice and recommends that all unit holders obtain their own tax advice in relation to the distribution.

The Directors have forecast a distribution of 28.8 cents per stapled security for the year ending 30 June 2005, and is not aware of any reason why this will not be achieved.

MCG also notes that new stapled securities issued under the Institutional Placement and Rights Offer associated with MCG's acquisition of a 54% interest in ntl:Broadcast will not be eligible for the interim distribution for the six months to 31 December 2004.

Distribution Reinvestment Plan

A distribution reinvestment plan is in operation for this distribution. Notice to participate in the plan must be lodged with ASX Perpetual Registrars by 31 December 2004.

For further information, please contact:

Richard Nelson
Investor Relations
Macquarie Group
Tel: (612) 8232 5008
Email: richard.nelson@macquarie.com

Media Enquiries
Jane Rotsey
Public Affairs Manager
Mobile: (61) 401 997 160
Email: jane.rotsey@macquarie.com