The 32-year-old Diggers Rest man is currently in custody, assisting police with their investigation. 

A 27-year-old Sunbury woman remains under guard at the Royal Melbourne Hospital. 

The investigation continues. 

UPDATE, 1.20pm: A man has been arrested following a series of incidents in Macedon overnight, including the death of a man in a fatal crash. 

Victoria Police has issued a release saying a 30-year-old Sunbury man was located on a roadside on the outskirts of Gisborne by police heading to the scene about 9.45am. 

The man, who has minor injuries, is in custody and will be interviewed by police. 

A 27-year-old Sunbury woman remains under guard at The Royal Melbourne Hospital. 

Police are actively searching for a third man involved in this morning’s incidents and urge anyone who sees a male acting suspiciously in the local area to call 000. 

UPDATE, 9.30am: Ambulance Victoria spokesman John Mullen said a woman in police custody, aged in her 20s, was in a stable condition with rib injuries and back soreness following this morning's incident.

UPDATE, 9am: Police are at the scene of a fatality in Macedon which occurred early this morning. 

Gisborne police were called to the Macedon Railway Station just before 5am following reports of an attempted theft. 

The suspects then fled the scene in a car. 

A pursuit was initiated but ended a short time later when police located the offending vehicle after it had failed to negotiate a turn on the corner of Blackwood and Forbes roads and rolled. 

One of the occupants, a male, died at the scene while two other males fled the crash site on foot. 

The pair were believed to be wearing balaclavas and police are searching the area in an effort to locate them. 

A female was arrested and conveyed to Royal Melbourne Hospital where she remains under police guard. 

Major Collision Investigation Group detectives are investigating the incident. 

As per standard practice, the investigation will be oversighted by members of the Professional Standards Command and the Coroner has been notified. 

At this time none of those involved in the incident have been identified. 

Anyone with any information should contact Crime Stoppers on 1800 333 000 or visit www.crimestoppersvic.com.au

Provisional road toll: 

2014 – 124 

2013 – 112 

UPDATE, 8.30am: Assistant Commissioner Jack Blayney will address the media at 10am regarding a fatal police pursuit at Macedon today and a triple fatality at Broadwater near Warrnambool last night.

The pursuit occurred on Blackwood and Forbes roads, Macedon.

EARLIER: Gisborne police have confirmed there was a short police pursuit of a single vehicle early this morning at Macedon.

At least one person in the pursued vehicle has died.

MORE TO COME