10:02     <03919>,<03920>,<03923> & <03924> - Announcement (1)                

    This announcement appears for information purposes only and does not      
    constitute an invitation or offer to acquire, purchase or subscribe for   
    the Warrants (as defined below).                                          
                                                                              
    The Stock Exchange of Hong Kong Limited takes no responsibility for the   
    contents of this announcement, makes no representation as to its accuracy 
    or completeness and expressly disclaims any liability whatsoever for any  
    loss howsoever arising from or in reliance upon the whole or any part of  
    the contents of this announcement.                                        
                                                                              
                                                                              
    800,000,000 European Style Index Call Warrants (Cash Settled) 2005        
    relating to the Hang Seng Index (the "Index") (the "1st Series Warrants") 
    and                                                                       
    800,000,000 European Style Index Call Warrants (Cash Settled) 2005        
    relating to the Index (the "2nd Series Warrants")                         
    and                                                                       
    800,000,000 European Style Index Put Warrants (Cash Settled) 2005         
    relating to the Index (the "3rd Series Warrants")                         
     and                                                                      
    800,000,000 European Style Index Put Warrants (Cash Settled) 2005         
    relating to the Index (the "4th Series Warrants")                         
     (together the "Warrants")                                                
    Issued by                                                                 
    Macquarie Bank Limited                                                    
    (ABN 46 008 583 542)                                                      
    (incorporated under the laws of Australia)                                
    Sponsor                                                                   
    Macquarie Equities (Asia) Limited                                         
                                                                              
    Macquarie Bank Limited (ABN 46 008 583 542) (the "Issuer") announces that 
    it intends to issue each of the series of Warrants detailed below.  In    
    respect of each series, the Number of Warrants per Entitlement specified  
    below relates to one index unit on the Index, at an issue price specified 
    below.  In respect of each series, the Warrants are European Style and may
    only be exercised on the relevant expiry date (the "Expiry Date") at the  
    relevant strike level (the "Strike Level") and in the relevant board lot  
    (the "Board Lot") or integral multiples thereof, all of which are         
    specified below.                                                          
                                                                              
    Warrants         Board     Issue      Number of                           
                     Lot       Price      Warrants per  Expiry Date   Strike  
                               per Warrant Entitlement                 Level  
    1st Series Warrants                                                       
                    10,000      HK$0.250   5,000   30 August 2005     13,400  
    2nd Series Warrants                                                       
                    10,000      HK$0.250    4,200   30 August 2005     13,800 
    3rd Series Warrants                                                       
                    10,000      HK$0.250   3,700   30 August 2005      13,600 
    4th Series Warrants                                                       
                    10,000      HK$0.252   4,500   30 August 2005       14,000
                                                                              
    Every Board Lot will entitle the holder on exercise thereof to receive    
    from the Issuer a cash amount (if positive) (the "Cash Settlement Amount  
    "):                                                                       
                                                                              
    In the case of a series of Call Warrants:                                 
                                                                              
                                                                              
    Cash Settlement Amount per Board Lot =                                    
    (Closing Level - Strike Level) x Index Currency Amount x One Board Lot    
    -----------------------------------------------------------------------   
                            Number of Warrants per Entitlement                
                                                                              
                                                                              
    In the case of a series of Put Warrants:                                  
                                                                              
                                                                              
    Cash Settlement Amount per Board Lot =                                    
    (Strike Level - Closing Level) x Index Currency Amount x One Board Lot    
    ----------------------------------------------------------------------    
                    Number of Warrants per Entitlement                        
                                                                              
    "Closing Level" shall mean the Final Settlement Price (as defined in the  
    terms and conditions of each series of Warrants, "Conditions") for        
    settling the Hang Seng Index August 2005 Futures Contract.                
                                                                              
    "Index Currency Amount" in respect of each series of Warrants shall mean  
    HK$1.00.                                                                  
                                                                              
    The Warrants will be automatically exercised on the Expiry Date (without  
    any notice being given to the holders of the Warrants) if the Cash        
    Settlement Amount on the Expiry Date is greater than zero and the Issuer  
    will pay to the holders of the Warrants an amount less Exercise Expenses  
    calculated in accordance with the Conditions. If the Cash Settlement      
    Amount is less than or equal to zero, all Warrants shall be deemed to     
    expire on the Expiry Date without value.                                  
                                                                              
    The Warrants constitute general unsecured contractual obligations of the  
    Issuer and of no other person.  If you purchase the Warrants you are      
    relying upon the creditworthiness of the Issuer.