GRAINCORP LIMITED — Director's Dealing 2004

Sep 16, 2004

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
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	MR THOMAS BODLEY KEENE
Date of last notice	† 4 August 2004 -

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 ia this part.

Direct or indirect interest	DIRECT/INDIRECT
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interesi.
Date of change	17 September 2004
No. of securities held prior to change	232,552 ordinary shares as sole holder Total Ordinary Shares - 232,552 500 reset preference shares as sole holder $100$ reset preference shares $-$ indirect interest in Helen Keene holding Total Reset Preference Shares - 600
Class	FULLY PAID ORDINARY SHARES
Number acquired	120
Number disposed	0
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$12.86

⁺ See chapter 19 for defined terms.

No. of securities held after change	232,672 ordinary shares as sole holder Total Ordinary Shares - 232,672 500 reset preference shares as sole holder 100 reset preference shares - indirect interest in Helen Keene holding Total Reset Preference Shares - 600
Nature of change	ON MARKET PURCHASE OF
Example: on-nurket trade, off-market trade, exercise of options, issue of	SECURITIES UNDER DEFERRED
securities under dividend reinvestment pian, participation in buy-back-	SHARE 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.