GRAINCORP LIMITED — Director's Dealing 2005

Jul 5, 2005

Rule 3.19A.2

Appendix 3Y

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 36/9/2001.

	---------
---------------------------------------	PERMIT ROOM AND LOCATED
Name of entity	" ******
___	GRAINCORP LIMITED
IABN $\overline{\phantom{000000000000000000000000000000000000$ ---------	______ _____ 1010445-A 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 MERICAN ENTERTAINMENT ENTERTAINMENT ANNO AN INCLUDE AN INCHIN	MR DON TAYLOR
--------------------------------------	04 May 2005 --------------------------------------- ________

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
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	04 July 2005
No. of securities held prior to change	1,261 ordinary shares as sole holder Total Ordinary Shares - 1,261 96 Reset Preference shares held as sole shareholder 237 Reset Preference shares held as a Director of Parkhurst Pastoral Pty Ltd Total Reset Preference Shares Held - 333
Class	FULLY PAID ORDINARY
Number acquired	36
Number disposed	0
Value/Consideration Note: if consideration is non-cash, provide details and estimated valuation	\$10.76

⁺ See chapter 19 for defined terms.

No. of securities held after change	1,297 ordinary shares as sole holder Total Ordinary Shares - 1,297 96 Reset Preference shares held as sole shareholder 237 Reset Preference shares held as a Director of Parkhurst Pastoral Pty Ltd Total Reset Preference Shares Held - 333
Nature of change	ON MARKET PURCHASE OF
Example: on-market trade, off-market trade, excreise of options, issue of	SECURITIES UNDER DEFERRED
securities under dividend remvestment plan, 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 "natifiable 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.