Macquarie Bank receives Federal Treasurer approval for restructure of Macquarie Group

Macquarie Bank Limited (MBL) advised today that it has received approval from the Federal Treasurer for the proposed restructure of the Macquarie Group (Restructure). Specifically;

• ­The Treasurer granted all of the approvals necessary for the proposed Restructure to proceed as described in the Explanatory Memorandum;
• The Restructure approvals contain certain modifications of the Corporations Act that facilitate the implementation of the Restructure. In particular, Macquarie's ability to pay dividends out of pre-restructure profits is preserved.

The Restructure is proposed to be effected by schemes of arrangement to be considered by the Bank’s shareholders and optionholders at meetings on 25 October 2007.