GPT GROUP — Notice of Dividend Amount 2004

Oct 25, 2004

General Property Trust ASX Announcement and Media Release

SEPTEMBER QUARTER DISTRIBUTION EX-DATE

26 October 2004

As announced on 13 October 2004, a distribution for the three months ended 30 September 2004 of 5.5 cents per General Property Trust (GPT) unit will be paid by the Trust on 22 November 2004.

As also announced, the register of unitholders of GPT will close at 5.00pm on 9 November 2004 for the purpose of determining those unitholders entitled to participate in the distribution pavable on 22 November 2004.

The indicative date on page 5 of the GPT Notice of Meeting and Explanatory Memorandum dated 15 October 2004 for the last day for GPT units to trade with entitlement to participate in the distribution for the three months ended 30 September 2004 was stated to be 3 November 2004.

GPT Management now confirms that the "ex" date for the distribution for the three months ended 30 September 2004 is 3 November 2004. Accordingly, the last day for GPT units to trade with entitlement to participate in the distribution for the three months ended 30 September 2004 is 2 November 2004.

ENDS

Enquiries

For further information please contact Nic Lvons Chief Executive Officer General Property Trust $(02)$ 9237 5816

Martin Debelle /Graham Canning Cannings (02) 9252 0622

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.