LENDLEASE GROUP — Director's Dealing 2011

Aug 31, 2011

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• 1 September 2011

The Manager Companies Section ASX Limited

Pages: Five (5) Pages

APPENDIX 3Y: CHANGE OF DIRECTOR’S INTEREST NOTICE

Attached are the Appendix 3Y notices in relation to the following:

Mr S McCann

• a) allotment of 1930 securities made under the Distribution Reinvestment Plan in March 2011; and

• b) vesting of awards made in September 2010.

Mr D Crawford

• a) allotment of 130 securities made under the Distribution Reinvestment Plan in March 2011.

Lend Lease notes that the notices in respect of the allotments made under the Distribution Reinvestment Plan were not lodged within the requisite timeframe due to a notification delay by the share registry.

Lend Lease has in place a range of processes to ensure compliance with listing rule 3.19A including monitoring by the share registry and Lend Lease staff, notification by the share registry, and liaison with directors.

Lend Lease considers that these arrangements will ensure compliance for the lodgement of future notices.

END

Attachments: Appendix 3Y x 2

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

Lend Lease Corporation Limited ABN 32 000 226 228 and

1

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

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

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 MCCANN
Date of last notice	31 DECEMBER 2010

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	30 MARCH 2011	1 SEPTEMBER 2011
No. of securities held prior to change	81,339	1. 61,368 VESTED SECURITES IN THE LEND LEASE EMPLOYEE SHARE ACQUISITION PLAN 2. 234,442 UNVESTED SECURITES IN THE LEND LEASE EMPLOYEE SHARE ACQUISITION PLAN
Class	ORDINARY STAPLED SECURITIES
Number acquired	1,930	1. 93,075 2. N/A
Number disposed	N/A	1. N/A 2. 93,075
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$8.4298	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	83,269	1. 154,443 VESTED SECURITES IN THE LEND LEASE EMPLOYEE SHARE ACQUISITION PLAN 2. 141,367 UNVESTED SECURITES IN THE LEND LEASE EMPLOYEE SHARE ACQUISITION PLAN
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	ALLOTMENT OF SECURITIES UNDER THE DISTRIBUTION REINVESTMENT PLAN	CHANGE IN VESTING STATUS OF AWARD MADE IN SEPTEMBER 2010 FROM UNVESTED TO VESTED.

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 1

11/3/2002

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

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	DAVID ALEXANDER CRAWFORD
Date of last notice	7 APRIL 2010

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	Indirect
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	1. NED RBP PTY LIMITED (AS TRUSTEE FOR THE SECURITIES ALLOTTED UNDER THE NON EXECUTIVE DIRECTORS' RETIREMENT BENEFIT PLAN APPROVED BY SHAREHOLDERS AT THE ANNUAL GENERAL MEETING HELD ON 2 NOVEMBER 2000) 2. MELPEAT PTY LIMITED (AS TRUSTEE FOR THE CRAWFORD SUPERANNUATION FUND)
Date of change	N/A	1. N/A 2. 30 MARCH 2011
No. of securities held prior to change	N/A	1. 55,495 2. 18,098

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

Class	ORDINARY STAPLED SECURITY	ORDINARY STAPLED SECURITY
Number acquired	N/A	1. NIL 2. 130
Number disposed	N/A	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	N/A	$8.4298
No. of securities held after change	NIL	1. 55,495 2. 18,228
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	N/A	ALLOTMENT OF SECURITIES UNDER THE DISTRIBUTION REINVESTMENT 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 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 1

11/3/2002