News Release

Macquarie Power Income Fund Declares April 2005 Cash Distribution

TORONTO, April 20, 2005 - Macquarie Power Income Fund (TSX: MPT.UN - the “Fund”) today declared a cash distribution for the month of April 2005 of C$0.07917 per trust unit.

The distribution will be paid on May 31, 2005 to Unitholders of record at the close of trading on April 29, 2005.

Macquarie Power Income Fund is an unincorporated limited purpose trust which owns a 156 MW gas-fired cogeneration power station located in Cardinal, Ontario. The Fund’s units are listed on the Toronto Stock Exchange under the symbol MPT.UN. The Fund is managed by Macquarie Power Management Ltd.1, a whollyowned subsidiary of Macquarie Bank Limited and a member of the Macquarie group.

More information on Macquarie Power Income Fund can be found at the Fund’s website, www.macquarie.com/mpt

For additional information please contact:

Investor enquiries
Harry Atterton
Chief Financial Officer
Macquarie Power Management Ltd.
(416) 594 5198

Media enquiries
Monica Zaied
Corporate Communications
Macquarie North America Ltd.
(416) 594 5042

1 Macquarie Power Management Ltd. is not an authorised deposit taking institution for the purposes of the Banking Act (Cth) 1959 and Macquarie Power Management Ltd.’s obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of Macquarie Power Management Ltd.