Macquarie notes S&P has affirmed ratings and revised outlooks to stable

17 February 2010

SYDNEY, 17 February 2010 - Macquarie Group Limited (ASX: MQG, ADR: MQBKY) today noted that Standard and Poor's (S&P) has revised its outlooks for the Macquarie group of companies to Stable from Negative.

S&P also affirmed its ratings of the Macquarie group of companies: 'A' long-term and 'A-1' short-term issuer credit ratings on Macquarie Bank Limited, 'A-' long-term and 'A-2' short-term issuer credit ratings on Macquarie Group Limited, Macquarie Financial Holdings Limited and Macquarie International Finance Limited and 'A' long-term issue credit rating on Macquarie Life Limited.

Macquarie Chief Financial Officer Greg Ward welcomed the ratings affirmation and revised outlooks which S&P noted reflected the Group's ability to maintain supportive capital and a satisfactory earnings profile, as well as manage funding and liquidity challenges, notwithstanding continued - albeit reduced - uncertainty in the environment in which the Group operates.

In addition to this, S&P noted the following:

• "Standard & Poor's ratings on MQG, and MQG's subsidiaries, are supported by the group's strong market positions in the key business lines - institutional broking, investment banking, unlisted funds management and fixed income, commodities, and currency (FICC), which collectively account for about three-quarters of the group's earnings"
  
• "We consider that the Group's strong risk management capabilities and risk management framework offset the risks inherent in MQG group's business model"

Macquarie Group is regulated by the Australian Prudential Regulation Authority (APRA) as a holding company of an Australian bank.

Contacts:

Karen Khadi
Investor Relations
Macquarie Group
Tel: (612) 8232 3548
Email: Karen.Khadi@macquarie.com

Paula Hannaford
Corporate Communications
Macquarie Group
Tel: (612) 8232 4102
Email: paula.hannaford@macquarie.com