LENDLEASE GROUP — Capital/Financing Update 2009

Dec 14, 2009

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ASX Announcement

Early Works at New Melbourne Markets

15 December, 2009

Lend Lease today announced it has commenced early works activities on the new Melbourne Wholesale Fruit, Vegetable and Flower Markets. Bovis Lend Lease was appointed preferred tenderer for the design and construction of the new market on October 5, 2009.

The A$300 million development involves the relocation of the existing Melbourne Wholesale Market from Footscray Road in West Melbourne to the new facility at Cooper Street, Epping, in Melbourne’s North. It is being managed by Major Projects Victoria for the Department of Innovation, Industry and Regional Development.

Bovis Lend Lease is currently contracted to deliver early works on the project site, prior to the signing of the final contract in the first quarter of 2010 for the design and construction of the new facility.

The new Melbourne Wholesale Fruit, Vegetable and Flower Market is scheduled to open in 2012.

The project is one of the largest infrastructure developments being undertaken by the Victorian Government. The new purpose-built precinct and facility will incorporate a range of sustainable initiatives to significantly improve the energy and water efficiency of the market.

Lend Lease Chief Executive Officer and Managing Director, Steve McCann said: “We are pleased to be working with the State Government on this vital piece of Victoria’s infrastructure. This follows our successful delivery of the Melbourne Recital Centre and Melbourne Theatre Company project, and the strong progress of the new Royal Children’s Hospital.

“The early works currently taking place are the first stage in creating an exciting new facility that will provide greater operational efficiency, a safer work environment and improved sustainability for Victoria’s fruit, vegetable and flower market community,” Mr McCann said.

Investor enquiries:

Steve McCann CEO and Managing Director Ph: +61 2 9277 2551

Media enquiries:

Rachel Mornington-West Corporate Affairs Manager Ph: +61 2 9277 2525

Lend Lease Corporation Limited ABN 32 000 226 228 Lend Lease Trust ARSN 128 052 595

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Level 4, 30 The Bond 30 Hickson Road Millers Point NSW 2000 Australia

Telephone: +61 2 9236 6111 Facsimile: +61 2 9252 2192 www.lendlease.com