GRAINCORP LIMITED — Director's Dealing 2007

Feb 27, 2007

Company announcement

GrainCorp Limited ABN 60 057 186 035

28 February 2007 Date:

To: The Manager Announcements Company announcements office

Lodged via www.asxonline.com

PUBLIC ANNOUNCEMENT

(Appendix 3Y - D Trebeck)

$N.A.A.f$

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	186 035 60 057 ---

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	24 January 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	23 February 2007
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 7,572 Ordinary Shares - David Trebeck Total Shares Held - 24,359
Class	FULLY PAID ORDINARY
Number acquired	200.
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$9.60
No. of securities held after change	16,787 Ordinary Shares on behalf of David Bruce and Diana Jeannette Trebeck trading as Fairo Super Fund 7,772 Ordinary Shares -- David Trebeck Total Shares Held - 24,559

⁺ See chapter 19 for defined terms.

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in buy-back

CORRECTION TO ON MARKET PURCHASE OF SECURITIES UNDER DEFERRED 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

à,

⁺ See chapter 19 for defined terms.