GRAINCORP LIMITED — Director's Dealing 2003

Oct 1, 2003

Rule 3.19A.1

Appendix 3X

Initial 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
ABN	60 057 186 035

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Don Taylor
Date of appointment	1/10/2003

Part 1 - Director's relevant interests in securities of which the director is the registered holder In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Number & class of securities

96 Reset Preference shares held as sole shareholder 237 Reset Preference Shares held as a Director of Parkhurst Pastoral Pty Ltd

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

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

Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest.	Number & class of Securities

$+$ See chapter 19 for defined terms.

Part 3 - Director's interests in contracts

Detail of contract	Nil
Nature of interest	Nil
Name of registered holder (if issued securities)	Nil
No. and class of securities to which interest relates	Nil

⁺ See chapter 19 for defined terms.