Information for existing Macquarie Equinox Class B Share Investors

Liquidity Proposal

Current investors are able to view the details of the Liquidity Proposal by clicking here.

Important information - suspension of redemptions in all classes of Macquarie Equinox Limited (Macquarie Equinox)

Redemptions for all Macquarie Equinox investments have been suspended until further notice. For more information, please click here. For the latest update, please click here.

Redemption requests submitted for redemption dates prior to 28 November 2008 will be processed in accordance with normal redemption procedures. All other redemption requests received (including requests for the 28 November redemption date) will be held over until the suspension is lifted.

The offer for Class B Participating Shares in Macquarie Equinox Limited is now closed.

December 2009 Estimated Performance Information

Estimated performance information for the Class B Participating Shares as at month end December 2009 is as follows:

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

* Redemptions from Macquarie Equinox Limited are suspended as is calculation of the official NAV. The NAV and portfolio performance provided above are estimates and hence indicative only.

Investors that redeemed during the period December 2007 to November 2008 will continue to receive distributions relating to the liquidation of the Drake Global Opportunities Fund ("Drake") until such time that the holding in Drake is fully redeemed from each portfolio. For investors that remain invested in the fund the liquidation proceeds will be fully allocated to cash.

If you have any queries please contact the Client Service Team on 1800 025 513.

⁺ Capital Protection is subject to the terms and conditions of the Capital Protection Agreement as described in each prospectus. Profit Lock-ins and Cash Dividends are at the discretion of Equinox.

⁺⁺ Dividend declaration date was 20 July 2007. No dividend was declared at 30 June 2008.

^# Annualised since inception. Class B Inception - May 2004.

The information pertaining to investment performance of Shares set out above does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the prospectus.

Definitions for Class B shares

Total Return Index: an accumulation index of the Equinox Portfolio NAV per share calculated assuming the reinvestment of Cash Dividends.

Loan Interest Information Class B shares

Important Information

This information is provided by Macquarie Investment Management Limited ABN 66 002 867 003 ("MIML"), as the arranger of Macquarie Equinox Limited ("Equinox").  MIML is a holder of an Australian financial services licence No. 237492.  Any advice provided does not take into account your objectives, financial situation or needs.  You should consider the appropriateness of the advice having regard to these matters,and read the relevant prospectus.  The prospectus is available from www.macquarie.com.au/equinox.  MIML has made every effort to ensure the above information is accurate and has provided the information in good faith, however, its accuracy, reliability or completeness is not guaranteed.

Investments in Equinox are not deposits with or liabilities of Macquarie Bank Limited ABN 46 008 583 542 ("Macquarie") or any other Macquarie Group company and are subject to investment risk, including possible delays in repayment and loss of income and capital invested.  None of Macquarie or any other Macquarie Group company guarantees the performance of Equinox, the repayment of capital from Equinox, or any particular rate of return.

The distribution of the information in jurisdiction outside Australia may be restricted by law and persons into whose possession the information come should inform themselves about, and observe, any such restrictions.  Any failure to comply with these restrictions may constitute a violation of the laws of an applicable jurisdiction.

View the MIML FSG