LENDLEASE GROUP — Board/Management Information 2007

Apr 18, 2007

19 April 2007

The Manager Companies Section Australian Stock Exchange Limited

The Manager Companies Section New Zealand Stock Exchange Limited

Pages: Two (2) pages

Dear Sir

Stock Exchange Announcement

New Global CEO for Bovis Lend Lease

Lend Lease Corporation Limited ("Lend Lease") today announced the appointment of long term construction and development senior executive, Mark Menhinnitt, as Global CEO of Bovis Lend Lease following the resignation of Bob Johnston, who has accepted the role as CEO of Australand Group, an Australian based property development and construction business.

Mr Menhinnitt has worked with Lend Lease for over 19 years, serving in a range of senior construction roles before becoming COO and then President of the Group's highly successful Actus Lend Lease military housing business in the US.

Mr Menhinnitt will join the Group's Senior Executive Management Team. His appointment is effective from 1 May to enable a handover period with Bob Johnston before Mr Johnston leaves the Group at the end of June 2007.

Further details are included in the attached media statement

Yours faithfully LEND LEASE CORPORATION LIMITED

S. Shanpe

SJ SHARPE Company Secretary

Lend Lease Corporation Limited ABN 32 000 226 228 Level 4, 30 The Bond 30 Hickson Road Millers Point NSW 2000 Australia

Telephone +612 9236 6111 Faccimile +612 9252 2192 www.fendlease.com

Media Release

New Global CEO for Bovis Lend Lease

19 April 2007

Lend Lease Corporation Limited ("Lend Lease") is pleased to announce the appointment of long term construction and development senior executive, Mark Menhinnitt, as Global CEO of Bovis Lend Lease following the resignation of Bob Johnston, who has accepted the role as CEO of Australand Group, an Australian based property development and construction business.

Mr Menhinnitt has worked with Lend Lease for over 19 years, serving in a range of senior construction and management roles before becoming COO and then President of the Group's highly successful Actus Lend Lease military housing business in the US. In those roles, he led the development of Actus from start-up phase to become the leading provider of privatised military housing development and construction services in the US, with around 25% market share through nine major military base projects worth over US\$4 billion in construction value

Mr Menhinnitt will join the Group's Senior Executive Management Team. His appointment is effective from 1 May this year, enabling a handover period with Bob Johnston before Mr Johnston leaves the Group at the end of June.

Lend Lease Managing Director and CEO, Greg Clarke, said Mr Menhinnitt is ideally suited to take on his new role, bringing long term knowledge of the Group's operations, substantial construction management experience and proven business development capabilities.

"We have a deep management talent pool from which to draw, which enables the Group to effect senior management change smoothly and quickly when and if the need arises," Mr Clarke said.

"Mark is a very experienced operator and having so successfully built the Actus Lend Lease business and developed the team to carry it forward, he was looking for the next big opportunity within the Group," Mr Clarke said

"He knows our senior regional CEOs in Bovis Lend Lease very well - Murray Coleman in the UK, Mark Fletcher in Europe, Pete Marchetto in the US and Sergio Casari in Asia Pacific – and is ideally placed to pick up the reins from Bob Johnston.

"I'd also like to say that we wish Bob Johnston well in his new role. We are disappointed to lose him but can understand his desire to take on a group CEO role," Mr Clarke said.

ENDS

Further information:

Ron Cutler Lend Lease Corporation Tel: 02 9277 2242

John Frev Cosway Australia Tel: 0411 361 361

Lend Lease Corporation Limited ABN 32 000 226 228 Level 4, 30 The Bond 30 Hickson Road Millers Point NSW 2000 Australia

Telephone +612 9236 6111 Eaccimile +612 9252 2192 www.fendlease.com