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Australia and New Zealand Banking Group Ltd. Major Shareholding Notification 2008

May 22, 2008

10425_rns_2008-05-22_9cd35dbf-c84f-48cb-96c6-08e1241ab1aa.pdf

Major Shareholding Notification

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23 May 2008

Company Announcements Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000

Company Secretary Stockland Trust/Stockland Corporation Limited Fax: (02) 8988 2312

Stockland Trust/Stockland Corporation Limited - Disclosures regarding shareholding interests

We refer to the substantial holding notices given by Australia and New Zealand Banking Group Limited ( ANZ ) on 22 May 2008, in connection with its interests in Stockland Trust/Stockland Corporation Limited.

We note that the substantial holding notices given by ANZ were based upon incorrect data regarding the issued voting capital of Stockland Trust/Stockland Corporation Limited .

Based on the correct issued voting capital of Stockland Trust/Stockland Corporation Limited, ANZ's actual interest in Stockland Trust/Stockland Corporation Limited as at both 27 March 2008 and 1 May 2008 was less than 5%. Accordingly, the substantial holding notices given by ANZ on 22 May 2008 should be disregarded. As at the date of this announcement, ANZ does not have a substantial holding in Stockland Trust/Stockland Corporation Limited.

Yours faithfully

John Priestley Company Secretary