INSIGNIA FINANCIAL LTD — Major Shareholding Notification 2012

Dec 27, 2012

Form 603 Corporations Act 2001 Section 671B Notice of initial substantial holder

To: Lifestyle Communities Limited ACN: 078 675 153 ASX Code: LIC

1. Details of substantial holder

Name: IOOF Holdings Limited ACN: 100 103 722

This notice is given by IOOF Holdings Limited on behalf of itself and its subsidiaries.

The holder became a substantial shareholder on: 24/12/2012

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interest in the scheme that the substantial holder or an associate had a relevant interest in on the date the substantial holder is as follows:

Class of securities	Number ofsecurities	Person’s votes	Voting Power
Ordinary	78,962,055	78,962,055	7.899%

3. Details of present registered holders

The persons registered as holders of the securities are as follows:

Registered holderof securities	PersonEntitledto beholder	Nature of relevantinterest	Class &Number(Ord)	Person'svotes
State Street		InvestmentManager	35,912,857	35,912,857
NAB AssetServicing		Investment Manager	21,207,592	21,207,592

2

Perennial Investment
Partners Limited
(ACN 087 901 620)	JP Morgan		InvestmentManager	6,230,000	6,230,000
Perennial Investment
Partners Limited
(ACN 087 901620)	BNP		InvestmentManager	15,611,606	15,611,606

4. Consideration

The consideration paid for each relevant interest and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Date	Person	Nature		Class &	Person's
			Consideration	number	votes
				(ord)
	Perennial Investment Partners	Entitlement	$
24/12/2012	Limited(ACN087901620)	offer shortfall	5,527,343.85	78,962,055	78,962,055

5. Associates

Name & ACN	Nature of association
Not applicable

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
IOOF Holdings Limited	Level 6, 161 Collins Street
	Melbourne Victoria 3000
Lifestyle Communities Limited	Level 2, 35 Market St
	South Melbourne vic 3205
IOOF Investment Management Limited	Level 6, 161 Collins Street
	Melbourne Victoria 3000
Perennial Investment Partners Limited	Level 24, 303 Collins Street
	Melbourne Victoria 3000