Gateway

Macquarie Gateway offers investors strategic investment solutions for a challenging market. Through specialised research and an understanding of the current economic cycle, the Gateway team has identified international investment opportunities for the medium term.

To find out more, visit the Gateway website

Macquarie does not give tax advice. How tax laws apply to you depends on your personal circumstances and you should seek your own advice.

This general advice has been prepared by MQ Portfolio Management Limited ABN 55 092 552 611 ("MPML") and does not take into account your personal objectives, financial situation or needs. We recommend you obtain financial, legal and taxation advice before making any financial investment decision.

Units referred to in this document ("Units") in the MQ Gateway Trust ("MQ Gateway") issued by MPML will be offered under a Product Disclosure Statement (PDS) available from MPML for a limited time from early March 2008. All potential investors should obtain Part A and Part B of the PDS from the issuer relating to Units and consider it before making any decision about whether to acquire, or continue to hold, Units.

Other than Macquarie Bank Limited ABN 46 008 583 542 ("MBL"), any Macquarie Group entity noted on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity's obligations do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

Macquarie Group, its employees and officers may have interests in Units by acting in various roles (including as director, investment banker, underwriter or dealer, holder of principal positions, broker, lender or adviser) and may receive fees for so acting. It may effect transactions which are inconsistent with any recommendations in this advice. Macquarie will receive remuneration and pay commission to introducing advisers as described in the PDS and, for the loan, in the relevant loan brochure.

A special note on investment ideas

Except where otherwise indicated, the investment ideas and directional views are summaries based on research by Macquarie Research Equities, a wholly-owned subsidiary of Macquarie Group Limited. The research was based on market conditions at the time of writing which may change suddenly and without notice. As the future matters described are of a predictive and variable nature, you should not rely on them alone and discuss them with your adviser before making any investment decision. For example, they may be affected by assumptions that become inaccurate or by known or unknown risks and uncertainties. Reports of the relevant research are available to your adviser from MRE on request. The investment ideas presented here are general and do not relate to you or the MQ Gateway offer directly. MRE has not been involved in the creation of MQ Gateway and so does not endorse or recommend investing in it.

This information is current as at 16 June 2008 and is subject to change without notice