GRAINCORP LIMITED — Director's Dealing 2003

Jan 9, 2003

Appendix 3Y

Rule 3.19.4.2

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
ABN	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	RONALD GREENTREE
Date of last notice	3 JANUARY 2002

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	DIRECT/INDIRECT AS BELOW
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	AS LISTED BELOW
Date of change	10 January 2003
No. of securities held prior to change	65,584 Ordinary shares as sole shareholder 551,040 Ordinary shares as R Greentree and B Harris 50,944 Ordinary shares as Director of Prime Grain Pty Ltd 89,264 Ordinary shares held by Limthono Pty Ltd on behalf of Greentree Farming Pty Ltd of which R Greentree is a Director 320 MA Greentree – indirect interest in holding Total held - 757,152
Class	FULLY PAID ORDINARY SHARES
Number acquired	36,160
Number disposed	$\theta$

$+$ See chapter 19 for defined terms.

Value/Consideration	\$9.21
Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change	68,718 Ordinary shares as sole shareholder 577,367 Ordinary shares as R Greentree and B Harris 53,378 Ordinary shares as Director of Prime Grain Pty Ltd 93,529 Ordinary shares held by Limthono Pty Ltd on behalf of Greentree Farming Pty Ltd of which R Greentree is a Director Total held - 792,992
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	ISSUE OF SECURITIES UNDER DIVIDEND REINVESTMENT PLAN

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.