Macquarie reFleXion® Trusts 2006 offers

Note to investors:

* Note that capital protection only applies at maturity and is subject to risks, limitations and conditions. Investors should refer to the Product Disclosure Statement for more information on capital protection.

This webpage has been prepared by Macquarie Financial Products Management Limited ABN 38 095 135 694, AFSL 237847, (MFPML) and is current as at 18 June 2009. MFPML is the responsible entity of the Macquarie reFleXion Japan Trust, Macquarie reFleXion China Trust, Macquarie reFleXion Europe Trust, Macquarie reFleXion Emerging Markets Trust, Macquarie reFleXion BRIC and Emerging Markets Trust and Macquarie reFleXion Commodity Trust (collectively, Macquarie reFleXion Trusts).

An invitation to apply for units in the June 2006 offer of certain Macquarie reFleXion Trusts was made in the Product Disclosure Statement dated 30 March 2006 and for units in the November 2006 offer of certain Macquarie reFleXion Trusts was made in the Product Disclosure Statement dated 27 September 2006 (together, PDSs). These offers are now closed. The PDSs are available from No.1 Martin Place, Sydney or by phoning 1800 080 033. In deciding whether to acquire or continue to hold an investment in the Macquarie reFleXion Trusts, investors should obtain the relevant PDS and consider its contents.

This information is general advice and does not take account of investors' objectives, financial situation or needs. Before acting on this general advice, advisers and their investors should therefore consider the appropriateness of the advice having regard to their situation. We recommend investors obtain financial, legal and taxation advice before making any financial investment decision.

MFPML or its associates, officers or employees may have interests in the financial products referred to in this information by acting in various roles including as investment banker, broker, lender or adviser. MFPML or its associates may receive fees, brokerage or commissions for acting in these capacities. In addition, MFPML or its associates, officers or employees may buy or sell the financial products as principal or agent. Investors may contact MFPML on 1800 080 033.

MFPML does not give, nor does it purport to give, any taxation advice. The taxation discussion in this document is based on laws current at the time of writing. Those laws and the level of taxation may change. The application of taxation laws to each investor depends on that investor’s individual circumstances. Accordingly, investors should seek independent professional advice on taxation implications before making any investment decisions.

reFleXion® is a registered trade mark owned by MFPML.

The Dow Jones Euro STOXX® Index is the intellectual property of (including registered trademarks)Stoxx Limited, Zurich, Switzerland and/or Dow Jones & Company, Inc., a Delaware corporation, New York, USA (Licensors), which is used under license. The Macquarie reFleXion Europe Trust, based on the Index is in no way sponsored, endorsed, sold or promoted by the Licensors and neither of the Licensors shall have any liability with respect thereto.

Investments in the Macquarie reFleXion Trusts are not deposits with, or other liabilities of, Macquarie Bank Limited ABN 46 008 583 542 or any Macquarie group company, and are subject to investment risk, including possible delays in repayment and loss of income and capital invested. None of Macquarie Bank Limited, Macquarie Financial Products Management Limited ABN 38 095 135 694 or any other member of the Macquarie Group guarantees the performance of the Macquarie reFleXion Trusts, the repayment of capital from the Macquarie reFleXion Trust or any particular rate of return.