GRAINCORP LIMITED — Director's Dealing 2007

Jun 28, 2007

Company announcement

GrainCorp Limited ABN 60 057 186 035

29 June 2007 Date:

$To:$ The Manager Announcements Company announcements office

Lodged via www.asxonline.com

PUBLIC ANNOUNCEMENT

(Appendix 3Y - Change in Directors interest for D Taylor)

$N. l. L. f$

Nigel Hart Group Executive - Corporate Services and Company Secretary

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
JABN ---------	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 DON TAYLOR
Date of last notice .	. 28 May 2007 .

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	25 June 2007
No. of securities held prior to change	3,160 ordinary shares as sole holder 3,664 ordinary shares held as a Director of Parkhurst Pastoral Pty Ltd. Total Ordinary Shares - 6,770
Class	FULLY PAID ORDINARY
Number acquired	30
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$12.92

$+$ See chapter 19 for defined terms.

No. of securities held after change	3,190 ordinary shares as sole holder 3,664 ordinary shares held as a Director of Parkhurst Pastoral Pty Ltd. Total Ordinary Shares - 6,800
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

÷.

⁺ See chapter 19 for defined terms.