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MACQUARIE COUNTRYWIDE ANNOUNCES REFINANCE OF DESCO US DEBT FACILITY

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Macquarie CountryWide Trust (ASX: MCW) and its co-investment partners, Desco Group and Regency Centers Corporation, today announced that they had recently completed the refinance and extension of two US debt facilities totalling US$165.7 million (100% value), due to mature in September 2009 and September 2012. The facilities have been combined and extended to September 2015, at an all-in coupon rate of 7.5% fixed to maturity and an initial loan to asset backing of 53%1 – with the lender being a major US life insurance company. The refinancing required the Trust to inject US$18 million (A$23 million) cash, for its 60% share in the joint venture.

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									Macquarie CountryWide Management Limited
ABN 46 069 709 468
AFS Licence No. 246996
A Member of the Macquarie Group of Companies
Manager of Macquarie CountryWide Trust




No 1. Martin Place                Telephone         +61 2 8232 3333           UNIT REGISTRY
SYDNEY NSW 2000                   Investor Services +61 2 8232 3737           c/- Link Market Services Limited
GPO Box 4294                      Fax               +61 2 8232 6510           Level 12, 680 George Street
SYDNEY NSW 1164                   Country Callers   1300 365 585              Sydney NSW 2000
AUSTRALIA                         Internet www.macquarie.com.au/reits         Locked Bag A14
                                                                              Sydney South NSW 1235
                                                                              Telephone 1300 303 063
                                                                              Email
                                                                              macquarie@linkmarketservices.com.au




18 June 2009


ASX RELEASE


                                      Macquarie CountryWide Trust


                 MACQUARIE COUNTRYWIDE ANNOUNCES REFINANCE OF
                             DESCO US DEBT FACILITY

Macquarie CountryWide Trust (ASX: MCW) and its co-investment partners, Desco Group
and Regency Centers Corporation, today announced that they had recently completed the
refinance and extension of two US debt facilities totalling US$165.7 million (100% value),
due to mature in September 2009 and September 2012.

The facilities have been combined and extended to September 2015, at an all-in coupon
rate of 7.5% fixed to maturity and an initial loan to asset backing of 53%1 – with the lender
being a major US life insurance company. The refinancing required the Trust to inject
US$18 million (A$23 million) cash, for its 60% share in the joint venture.

Macquarie CountryWide’s Chief Executive Officer, Mr Steven Sewell said: “The extension
of the two debt facilities to September 2015, at rates considered attractive in today’s market,
are reflective of the strong fundamentals of the underlying assets.”

For further information, please contact:

Steven Sewell                                                    Kylie Butcher
Chief Executive Officer                                          Head of Investor Relations
Phone:         +61 2 8232 7217                                   Phone:          +61 2 8232 8516

                                                                 Media Enquiries
                                                                 Amanda Gilbert
                                                                 Public Affairs Manager
                                                                 Phone:          +61 2 8232 8647




     1
         based on December 2008 book values

None of the entities referred to in this document is an authorised deposit-taking institution for the purposes of the
Banking Act (Commonwealth of Australia) 1959, and their obligations do not represent deposits or other liabilities of
Macquarie Bank Limited ABN 46 008 583 542 ("MBL"). MBL provides a limited AUD5 million guarantee to the Australian
Securities and Investments Commission in respect of Corporations Act obligations of Macquarie CountryWide
Management Limited as a responsible entity of managed investment schemes. MBL does not otherwise guarantee or
provide assurance in respect of these entities, the performance of funds managed by Macquarie CountryWide
Management Limited or the repayment of capital.

								
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