Macquarie Warrants - Changes to Information in PDS

23-Nov-2005

Macquarie Bank Limited (“Macquarie”) is the issuer of Warrants which are listed on the Australian Stock Exchange (“ASX”) pursuant to the following Product Disclosure Statements (“PDS”):

Macquarie “Trading” Warrants – PDS dated 23 March 2004, as amended from time to time via Supplementary PDS’;

Macquarie “Turbo” Warrants – PDS dated 19 March 2004, as amended from time to time via Supplementary PDS’;

Macquarie “Currency” Warrants – PDS dated 28 June 2005, as amended from time to time via Supplementary PDS’;

Macquarie “Oil” Warrants – PDS dated 16 August 2005;

Macquarie “Index” Warrants – PDS dated 5 September 2005 and 19 October 2005, as amended from time to time via Supplementary PDS’.

Warrant Adjustments

Pursuant to clause 7.1(c) of the Terms of Issue of the Macquarie “Trading” Warrants, Macquarie “Turbo” Warrants, Macquarie “Currency” Warrants and clause 6.1 (c) of the Terms of Issue of the Macquarie “Oil” Warrants and Macquarie” Index” Warrants, the Terms of Issue will be amended as follows:

The Closing Time as defined in the Glossary is amended to read:

“Closing Time” means 6.00 pm (Sydney time);

This amendment is effective immediately. If you have any questions regarding this matter please contact your Stockbroker or Financial Adviser or call Macquarie on 1800 80 30 10.

Yours Sincerely

Chris Horne
Associate Director
Macquarie Bank Limited