LENDLEASE GROUP — Director's Dealing 2009

Mar 31, 2009

1 April 2009

The Manager Companies Section ASX Limited

The Manager Companies Section New Zealand Exchange Limited

Pages: Three (3) pages

Dear Sir

Re: Appendix 3Y – Change of Director’s Interest Notice – S B McCann

Please find attached Appendix 3Y (Change of Director’s Interest Notice) for Mr S B McCann in relation to the acquisition of shares pursuant to the Company’s employee share acquisition plan.

Yours faithfully

W HARA

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

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	STEPHEN BARRY McCANN
Date of last notice	1 APRIL 2009

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(includingregisteredholder)Note:Providedetailsofthecircumstances giving rise to therelevant interest.	N/A	LL EMPLOYEE HOLDINGSCUSTODIAN PTY LIMITED(EMPLOYEE SHAREACQUISITION PLAN)
Date of change	31 MARCH 2009	31 MARCH 2009
No. of securities held priorto change	22,259	1. 3,725VESTEDLENDLEASECORPORATIONLIMITED SHARES IN THELEND LEASE EMPLOYEESHAREACQUISITIONPLAN2. 308,457 UNVESTED LENDLEASECORPORATIONLIMITED SHARES IN THELEND LEASE EMPLOYEESHAREACQUISITIONPLAN
Class	ORDINARY SHARES	ORDINARY SHARES
Number acquired	51,042	1. 1982. NIL
Number disposed	NIL	1. NIL2. 51,042

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Value/ConsiderationNote: If consideration is non-cash,providedetailsandestimatedvaluation	VESTING AND TRANSFER OFSHARES HELD IN THE LENDLEASE EMPLOYEE SHAREACQUISITION PLAN.ESTIMATED VALUE OFSHARES ON VESTING DATEIS $6.49 PER SHARE.	1. $6.49 PER SHARE2. VESTING AND TRANSFEROF SHARES HELD IN THELEND LEASE EMPLOYEESHARE ACQUISITIONPLAN. ESTIMATED VALUEOF SHARES ON VESTINGDATE IS $6.49 PERSHARE.
No. of securities held afterchange	73,301	1. 3,923 VESTED LENDLEASE CORPORATIONLIMITED SHARES IN THELEND LEASE EMPLOYEESHARE ACQUISITIONPLAN2. 257,415 UNVESTED LENDLEASE CORPORATIONLIMITED SHARES IN THELEND LEASE EMPLOYEE
Nature of changeExample: on-market trade, off-markettrade, exercise of options, issue ofsecurities under dividend reinvestmentplan, participation in buy-back	ACQUISITION OF LENDLEASE CORPORATIONLIMITED SHARESFOLLOWING VESTING OFSHARES HELD IN THE LENDLEASE EMPLOYEE SHAREACQUISITION PLAN	1. ON MARKET SHARE PLANACQUISITION2. VESTING AND TRANSFEROF LEND LEASECORPORATION LIMITEDSHARES HELD IN LENDLEASE EMPLOYEE SHAREACQUISITION PLAN

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 towhich interest related prior tochangeNote: Details are only required for a contract inrelation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002