LENDLEASE GROUP — Director's Dealing 2008

Aug 26, 2008

27 August 2008

The Manager The Manager Companies Section Companies Section Australian Stock Exchange Limited New Zealand Exchange Limited

Pages: Three (3) pages

Dear Sir

Re: Stock Exchange Announcement Appendix 3Y – Change of Director’s Interest Notice

Please find attached Appendix 3Y (Change of Director’s Interest Notice) for Mr G A Clarke in relation to shares acquired pursuant to the transfer of vested shares from the Company’s employee share acquisition plan.

Yours faithfully

==> picture [115 x 31] intentionally omitted <==

S J SHARPE

Company Secretary

Lend Lease Corporation Limited ABN 32 000 226 228 Facsimile Level 4, 30 The Bond www.lendlease.com 30 Hickson Road Millers Point NSW 2000 Australia

Telephone +612 9236 6111 +612 9252 2192

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	LEND LEASE CORPORATION LIMITED
ABN	32 000 226 228

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	GREGORY ALLISON CLARKE
Date of last notice	30 AUGUST 2007

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	DIRECT	INDIRECT
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	N/A	LL EMPLOYEE HOLDINGS CUSTODIAN PTY LIMITED (EMPLOYEE SHARE ACQUISITION PLAN)
Date of change	25 AUGUST 2008	25 AUGUST 2008
No. of securities held prior to change	1,000 ORDINARY SHARES	48,287 UNVESTED LEND LEASE CORPORATION LIMITED SHARES IN THE LEND LEASE EMPLOYEE SHARE ACQUISITION PLAN
Class	ORDINARY SHARES	ORDINARY SHARES
Number acquired	48,287	NIL
Number disposed	NIL	48,287
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NIL - VESTING AND TRANSFER OF SHARES	NIL - VESTING AND TRANSFER OF SHARES
No. of securities held after change	49,287 ORDINARY SHARES	NIL
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back	OFF-MARKET TRANSFER OF SHARES	OFF-MARKET TRANSFER OF SHARES

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002