LENDLEASE GROUP — M&A Activity 2009

Dec 3, 2009

==> picture [97 x 36] intentionally omitted <==

ASX Announcement

Response to media speculation

4 December 2009

We refer to speculation in today’s Australian Financial Review regarding the potential acquisition of the ING Retail Property Fund.

Lend Lease, together with its managed Funds and capital partners reviews a range of asset acquisition opportunities from time to time. Currently this includes a potential acquisition of the ING Retail Property Funds. Lend Lease’s involvement in the competitive process for the acquisition of the ING Retail Property Fund may or may not lead to a transaction.

ENDS

For further information please contact:

Sally Cameron

Lend Lease Tel: 02 9236 6464

Lend Lease Corporation Limited ABN 32 000 226 228 Lend Lease Responsible Entity Limited ABN 72 122 883 185 AFSL 308983 as responsible entity for Lend Lease Trust ARSN 128 052 595

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