This paper studies robust tracking control for a leader-follower multi-agent system (MAS) subject to disturbances. A challenging problem is considered here, which differs from those in the literature in two aspects. First, we consider the case when all the leader and follower agents are affected by disturbances, while the existing studies assume only the followers to suffer disturbances. Second, we assume the disturbances to be bounded only in rates of change rather than magnitude as in the literature. To address this new problem, we propose a novel observer-based distributed tracking control design. As a distinguishing feature, the followers can cooperatively estimate the disturbance affecting the leader to adjust their maneuvers accordingly, which is enabled by the design of the first-of-its-kind distributed disturbance observers. We build specific tracking control approaches for both first- and second-order MASs and prove that they can lead to bounded-error tracking, despite the challenges due to the relaxed assumptions about disturbances. We further perform simulation to validate the proposed approaches.