GRAINCORP LIMITED — Director's Dealing 2006

Feb 27, 2006

Company announcement

GrainCorp Limited ABN 60 057 186 035

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• Date: 28 February 2006
• To: The Manager Announcements Company Announcements Office

Lodged via www.asxonline.com

PUBLIC ANNOUNCEMENT

(Appendix 3Y - D Trebeck)

Contents for immediate release: (Change of Director's Interest Notice)

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Nigel Hart Company Secretary

GrainCorp Limited Level 17, Tower 1, Darling Park 201 Sussex Street, Sydney NSW 2000 PO Box A268, Sydney South NSW 1235 Telephone: (02) 9325 9100 Facsimile: (02) 9325 9180 www.graincorp.com.au

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 30/9/2001.

Name of entity	GRAINCORP LIMITED
IABN	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 DAVID BRUCE TREBECK
Date of last notice	27 January 2006

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	23 February 2006
No. of securities held prior to change	16,787 Ordinary Shares on behalf of David Bruce and Diana Jeannette Trebeck trading as Fairo Super Fund 4,790 Ordinary Shares – David Trebeck Total Shares Held - 21,577
Class	FULLY PAID ORDINARY
Number acquired	170
Number disposed	0
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$11.30

⁺ See chapter 19 for defined terms.

No. of securities held after change	16,787 Ordinary Shares on behalf of David Bruce and Diana Jeannette Trebeck trading as Fairo Super Fund 4,960 Ordinary Shares - David Trebeck Total Shares Held - 21,747
Nature of change	ON MARKET PURCHASE OF
Example: on-market trade, off-market trade, exercise of options, issue of	SECURITIES UNDER DEFERRED
securities under dividend reinvestment 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 "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

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$\pm$ See chapter 19 for defined terms.