LENDLEASE GROUP — Capital/Financing Update 2008

Jan 3, 2008

4 January 2008

The Manager Companies Section Australian Stock Exchange Limited

The Manager Companies Section New Zealand Stock Exchange Limited

Pages: One (1) page

Dear Sir

Stock Exchange Announcement

Actus Lend Lease selected for US$420 million US Army family housing project

Lend Lease Corporation Limited (“Lend Lease”) today announced that Actus Lend Lease has been selected as preferred bidder and has entered exclusive negotiations with the US Army for the development of family housing at Fort Wainwright and Fort Greely in Alaska.

The project includes the construction, renovation and property management operations of more than 1,800 homes in a 50-year sustainable development and management real estate transaction, with an initial development budget of approximately US$420 million (approximately A$478 million) over 6 years.

The project is part of the US Army’s Residential Communities Initiative to improve the quality of housing for US service members and their families.

Actus Lend Lease has ten operational projects across the United States worth approximately US$5.6 billion in development value.

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