LENDLEASE GROUP — Board/Management Information 2009

Feb 25, 2009

Stock Exchange Announcement

26 February 2009

Lend Lease Managing Director Greg Clarke to Step Down

Lend Lease Corporation Limited (“Lend Lease”) today announced that Managing Director, Greg Clarke will step down from his role after the announcement of the group’s half year result on 26[th] February 2009. This follows the announcement of the appointment of Steve McCann to the position of Lend Lease Chief Executive Officer on 16th December 2008. Steve will take over as Managing Director and become a member of the Lend Lease Board.

Lend Lease Chairman, Mr Crawford said: “We pay tribute to Greg’s contribution over six years at the helm of Lend Lease. Greg leaves Lend Lease in a sound financial position and with a significant backlog of attractive development positions in its key markets and sectors. He drove the revitalisation of the business including the creation of its integrated business model.”

“The Board extends our sincere thanks to Greg for his achievements as CEO.” he said.

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For more information contact:

Sally Cameron Lend Lease Corporation Tel: 02 9236 6464

Lend Lease Corporation Limited Telephone +612 9236 6111 ABN 32 000 226 228 Facsimile +612 9252 21921 Level 4, 30 The Bond www.lendlease.com 30 Hickson Road Millers Point NSW 2000 Australia

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