GPT GROUP — Regulatory Filings 2004

Nov 3, 2004

4 November 2004

Companies Announcement Office Australian Stock Exchange Limited Exchange Centre Level 6 20 Bridge Street Sydney NSW 2000

By electronic lodgement

Dear Sir

General Property Trust

In accordance with Listing Rule 3.17, enclosed is a reminder letter sent to Unitholders in connection with the proposed merger of General Property Trust with Lend Lease Corporation Limited

Yours faithfully GPT MANAGEMENT LIMITED

James Coyne Company Secretary

The GPT Notice of Meeting and Explanatory Memorandum is also a prospectus for Lend Lease Corporation Limited shares. It was lodged with the Australian Securities and Investments Commission on 15 October 2004. The offers of the Lend Lease shares will be made in the prospectus. Anyone wishing to acquire the shares must be a member of General Property Trust (ARSN 090 110 357) on the record date specified in the prospectus.

GPT Management Limited as the responsible entity of the General Property Trust is the issuer of GPT units. The Lend Lease Notice of Meeting and Explanatory Memorandum is also a product disclosure statement for GPT units. It was lodged with the Australian Securities and Investments Commission on 15 October 2004 and is expected to be distributed to the holders of Lend Lease shares on or about 18 October 2004. Lend Lease shareholders should consider the product disclosure statement for the GPT units in deciding whether to acquire the GPT units.

GPT Management Limited ABN 94 000 335 473 as Responsible Entity and Trustee of General Property Trust ABN 58 071 755 609

Louis A 30 The Bood 30 Hickson Road Millers Point NSW 2000 Australia

GPT Unitholder Service Centre Freecall 1800 025 095 Faceimile 02 9383 8146

GPT@lendlease.com.au

www.gpt.com.au

GENERAL PROPERTY TRUST

29 October 2004

Dear Unitholder

We refer to our letter to you dated 18 October 2004 which enclosed the Notice of Meeting and Explanatory Memorandum and other documents in relation to the proposed merger of GPT and Lend Lease. This document contains important information about the future of your investment and requires your attention.

IT IS IMPORTANT THAT YOU:

$\mathbf{1}$ . COMPLETE AND RETURN YOUR PROXY FORM if you wish to register your yote on the Resolutions BY NO LATER THAN 5.00PM ON MONDAY 15 NOVEMBER, 2004. As outlined in the Notice of Meeting and Explanatory Memorandum the Independent Directors recommend that you vote in favour of the merger proposal.

AND

$2.$ COMPLETE AND RETURN YOUR ELECTION FORM if you wish to participate in the Cash Out Option, Cash Sale or Exchange Sale Facility BY NO LATER THAN 5.00PM ON MONDAY 15 NOVEMBER, 2004. Please note that if the merger proceeds and you have not returned an Election Form you will not be able to participate in the Cash Out Option or the Cash Sale or Exchange Sale Facility and will receive stapled securities in the merged group.

For your convenience, replacement Proxy and Election Forms are enclosed along with a reply paid envelope.

You do not need to complete a new Proxy or Election Form if you have already returned vour form(s).

If you require further information, please contact the GPT Unitholder Information Line on 1800 350 150 (or +61 2 9278 9045 if outside Australia).

Yours sincerely

Hoseph

Peter Joseph Chairman of the GPT Board as comprised by its Independent Directors

The GPT Notice of Meeting and Explanatory Memorandum is also a prospectus for Lend Lease Corporation Limited shares. It was lodged with the Australian Securities and Investments Commission on 15 October 2004. The offers of the Lend Lease shares will be made in the prospectus. Anyone wishing to acquire the shares must be a member of General Property Trust (ARSN 090 110 357) on the record date specified in the prospectus.

GPT Management Limited ABN 94 000 335 473 as Resoonsible Folity and Trustee of General Property Trust ARN 58.071.755.609

Louis 4 30 The Bood 30 Hinkson Road Millers Point NSW 2000 Australia

GPT Unitholder Service Centre Freecat 1800 025 095 Pacsimile 02 9383 8146

GPT@fendlease.com.au

www.gpt.com.au