LENDLEASE GROUP — Capital/Financing Update 2010

Apr 5, 2010

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ASX Announcement

Update on Stratford City, London

6 April 2010

Lend Lease today announced that its subsidiary, Lend Lease Europe Limited, has concluded negotiations with London Continental Railways (LCR) for the regeneration of LCR landholdings at the Stratford City site in east London. These landholdings are adjacent to the Athletes' Village site where Lend Lease is providing development, project and construction management services to the Olympic Delivery Authority (ODA).

As a result of these negotiations, and to comply with European Union procurement regulations, LCR has issued a Contract Award Notification to announce its intention to enter into a binding Conditional Framework Agreement with Lend Lease as its development and investment partner. The Conditional Framework Agreement will provide for the establishment of a 50/50 joint venture company between LCR and Lend Lease and the appointment of Lend Lease as development manager by the joint venture company, subject to various conditions.

Lend Lease anticipates the Conditional Framework Agreement will be signed once the regulatory standstill period has lapsed. This is expected to occur over the coming weeks.

ENDS

For further information please contact:

Sally Cameron Group Executive - Investor Relations Ph: +61 2 9236 6464

Lend Lease Corporation Limited ABN 32 000 226 228 and Lend Lease Responsible Entity Limited ABN 72 122 883 185 AFS Licence 308983 as responsible entity for Lend Lease Trust ABN 39 944 184 773 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