LENDLEASE GROUP — Capital/Financing Update 2009

Nov 11, 2009

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ASX Announcement

ASX Pre-Quotation Disclosure – Stapled Securities

12 November 2009

In accordance with the requirements of ASX, Lend Lease Corporation Limited ( Lend Lease ) (ASX: LLC), confirms that:

• (a) the proposed date for distributing the units in Lend Lease Trust ( LLT ) to the Lend Lease shareholders as a dividend in specie, to be stapled to the Lend Lease shares in accordance with the Stapling Proposal described in the Explanatory Statement dated 12 October 2009, is Friday 20 November 2009;

• (b) the date set by ASX for completion of the despatch of:

  • in relation to all holdings on the CHESS sub-register, a notice from LLT under ASTC Settlement Rule 8.9.1; and

  • in relation to all other holdings, issuer sponsored holding statements,

  • is Thursday 26 November 2009;

• (c) all conditions precedent to the Stapling Proposal have been satisfied or waived;

• (d) the stapling of the Lend Lease shares to the units in LLT will be carried out in accordance with the timetable attached to this announcement (as set out in the Explanatory Statement) that has been approved by ASX;

• (e) at the time that LLT is admitted to the official list of ASX, Lend Lease is in compliance with its continuous disclosure obligations under listing rule 3.1; and

• (f) the fact that ASX may admit LLT to the official list is not to be taken in any way as an indication of the merits of LLT.

ASX reserves the right (but without limiting its absolute discretion) to remove LLT or Lend Lease or both from the official list if any of the shares and units cease to be stapled together or any equity securities are issued by LLT or Lend Lease (other than the Unstapled Units as defined below) which are not stapled to equivalent securities in the other entity. “Unstapled Units” means unstapled unquoted units in LLT which may be issued to Lend Lease or a wholly owned related body corporate of Lend Lease on the conditions specified by ASX.

Attached to this announcement is:

• an indicative statement setting out the names of the 20 largest Stapled Security holders, including the number and percentage of Stapled Securities held by those holders; and

• an indicative distribution schedule of the numbers of holders of Stapled Securities.

ENDS

For further information please 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 2192 Level 4, 30 The Bond www.lendlease.com 30 Hickson Road Millers Point NSW 2000 Australia

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LEND LEASE

Top Holders

Rank	Name	Securities	%
1.	HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED	86,838,338	18.85
2.	NATIONAL NOMINEES LIMITED	74,852,416	16.25
3.	J P MORGAN NOMINEES AUSTRALIA LIMITED	68,186,469	14.80
4.	CITICORP NOMINEES PTY LIMITED	16,720,706	3.63
5.	LL EMPLOYEE HOLDINGS CUSTODIAN PTY LIMITED<CASTLE ACCOUNT A/C>	14,914,384	3.24
6.	COGENT NOMINEES PTY LIMITED	14,223,078	3.09
7.	ANZ NOMINEES LIMITED <CASH INCOME A/C>	12,531,865	2.72
8.	LL EMPLOYEE HOLDINGS CUSTODIAN PTY LTD <EITCUSTODIAN A/C A/C>	11,611,740	2.52
9.	LL EMPLOYEE HOLDINGS CUSTODIAN PTY LIMITED<ESAP ACCOUNT A/C>	7,258,054	1.58
10.	AUSTRALIAN REWARD INVESTMENT ALLIANCE	6,526,725	1.42
Totals:	Top 10 holders	313,663,775	68.07

LEND LEASE

Range	Total holders	%
1 - 1,000	30,785	3.07%
1,001 - 5,000	19,397	9.10%
5,001 - 10,000	2,309	3.52%
10,001 - 100,000	1,120	5.19%
100,001 - 9,999,999,999	88	79.12%
Total	53,699	100.00

Stapling Timetable

Sydney time and date		Event
– 2009
10:00 am, Tuesday 10		Closing date and time for receipt of completed proxy forms for the
November		Lend Lease AGM
		Date and time for determining eligibility to vote at the Lend Lease
		AGM
10:00 am, Thursday 12		Lend Lease AGM
November
Thursday 12		Last day of trading in Lend Lease Shares separately on ASX*
November
Friday 13 November		Deferred settlement trading commences in Stapled Securities*
5:00 pm, Thursday 19		Record time for determining entitlements of Lend Lease
November		Shareholders to Stapled Securities (i.e. record date both for stapling
		and dividend in specie)*
		Last day for Lend Lease to register transfers on a pre-stapling basis*
Friday 20 November		Effective Date
	•	Dividend in specie paid to Lend Lease Shareholders*
	•	LLT Units and Lend Lease Shares become stapled*
Thursday 26		Last day of trading on ASX of Stapled Securities on a deferred
November		settlement basis*
		Completion of despatch of holding statements for Stapled Securities
		and dividend statements*
Friday 27 November		Commencement of normal trading on ASX of Stapled Securities on a
		T+3 basis*

All dates and times are indicative only and items marked ‘*’ will only apply if the stapling resolutions are approved. The actual times and dates will depend on factors outside the control of Lend Lease, including approval from ASX. Any changes to the above timetable will be notified on Lend Lease’s website, www.lendlease.com.au and announced to ASX. All times are referenced to the time in Sydney, New South Wales except where stated otherwise.

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