GRAINCORP LIMITED — Director's Dealing 2003

Dec 8, 2003

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	GRAINCORP LIMITED
JABN	60 057 186 035

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	MR JULIAN MENEGAZZO
Date of last notice	4 November 2003

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	INDIRECT/DIRECT
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant inferest.	AS LISTED BELOW
Date of change	9 December 2003
No. of securities held prior to change	127,960 Ordinary shares as sole holder 241,783 Ordinary shares as a director of Menegazzo Enterprises Pty Ltd 33,333 Ordinary shares – indirect interest in family members holding - LA Menegazzo 33,333 Ordinary shares - indirect interest in family members holding - AJ Menegazzo 33,333 Ordinary shares - indirect interest in family members holding - NC Menegazzo $3,000$ Ordinary shares $-$ as a Trustee of LAN Superannuation Fund Total held - 472,742
Class	FULLY PAID ORDINARY
Number acquired	184
Number disposed	$\theta$

⁺ See chapter 19 for defined terms.

Value/Consideration	\$13.60
Note: If consideration is non-cash, provide
details and estimated valuation
securities held after No. of	128,144 Ordinary shares as sole holder
change	241,783 Ordinary shares as a director of Menegazzo
	Enterprises Pty Ltd
	33,333 Ordinary shares – indirect interest in family members
	holding - LA Menegazzo
	33,333 Ordinary shares – indirect interest in family members
	holding – AJ Menegazzo
	33,333 Ordinary shares – indirect interest in family members
	holding – NC Menegazzo
	$3,000$ Ordinary shares $-$ as a Trustee of LAN Superannuation
	Fund.
	Total held – 472,926
Nature of change	ON MARKET PURCHASE OF SECURITIES UNDER
Example: on-market trade, off-market trade,	DEFERRED SHARE PLAN
exercise of options, issue of securities under dividend reinvestment plan, participation in buy-
back

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of 'notifiable interest of a director'' should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.