LENDLEASE GROUP — M&A Activity 2007

Mar 12, 2007

13 March 2007

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

Pages: One (1) page

Dear Sir

Stock Exchange Announcement Takeover bid by Lend Lease Funds Management Limited ACN 000 335 473 (as trustee of the LLREP2 Motor Inns Trust) for Sundowner Motor Inns Limited (Sundowner)

Close of offer period and notification of relevant interests

The takeover bid by Lend Lease Funds Management Limited ACN 000 335 473 in its capacity as trustee of the LLREP2 Motor lnns Trust (LLFM) for all the ordinary shares in Sundowner (Sundowner Shares) closed at 7pm on 12 March 2007.

For the purposes of ASX Listing Rule 3.3, we notify that:

• 1 LLFM and its associates have a relevant interest in 98.1% of the Sundowner Shares; and
• $\overline{2}$ as the applicable thresholds have been reached, compulsory acquisition of the outstanding Sundowner Shares will proceed.

Yours faithfully

S. Shanpe

SJ SHARPE Company Secretary Lend Lease Corporation Limited (on behalf of Lend Lease Funds Management Limited in its capacity as trustee of the LLREP2 Motor Inns Trust)

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