LENDLEASE GROUP — Capital/Financing Update 2007

Dec 23, 2007

24 December 2007

The Manager Companies Section Australian Stock Exchange Limited Pages: One (1) page

The Manager Companies Section New Zealand Stock Exchange Limited

Dear Sir

Stock Exchange Announcement

Lend Lease Development secures development contract for new Myer Headquarters at Victoria Harbour, Melbourne

Lend Lease Corporation Limited (“Lend Lease”) today announced that its subsidiary, Lend Lease Development Pty Ltd (“Lend Lease Development”) has exchanged contracts with Myer Ltd and APPF Commercial, one of Lend Lease Investment Management’s wholesale property funds, for the development and sale of the new Myer Corporate Store Support Office.

Located at 800 Collins Street, Victoria Harbour, Melbourne, the building has a forecast value on completion of circa A$175 million. The development of the building will be managed by Lend Lease Development and Bovis Lend Lease will undertake the design and construction.

On completion, 800 Collins Street will be a brand new, “A-grade” environmentally-rated core asset occupying a prime Collins Street corner site in Victoria Harbour. It will provide a modern and high quality work place for Myer employees. The 14-level building will include ground floor retail, 10 large flexible office floors of nearly 3,000 square metres and associated car parks. It will be the sixth office building developed by Lend Lease development and constructed by Bovis Lend Lease within Victoria Harbour.

Yours faithfully LEND LEASE CORPORATION LIMITED

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S J SHARPE Company Secretary

Lend Lease Corporation Limited Telephone +612 9236 6111 ABN 32 000 226 228 Facsimile +612 9252 2192 Level 4, 30 The Bond www.lendlease.com 30 Hickson Road Millers Point NSW 2000 Australia