LENDLEASE GROUP — Major Shareholding Notification 2009

Sep 15, 2009

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Form 605 Corporations Law Section 671B Notice of ceasing to be a substantial holder

LLC

To: The Secretary Company Name/Scheme Lend Lease Corporation Limited Level 4 30 Hickson Road Millers Point NSW 2000 FAX: (02) 9383 8154 ACN 000 226 228

1. Details of substantial holder

Name ACN (if applicable) National Australia Bank Limited (ACN 004 044 937) and its associated companies listed in Annexure A and which includes

MLC Investments Limited ACN 002 641 661 MLC Limited ACN 000 000 402 National Nominees Limited ACN 004 278 899 Elly Investments Pty Ltd ACN 098 198 004 (Elly Investments Pty Ltd acquired more than 20% of the voting power in Pengana Holdings Pty Limited (PHPL) on 30 April 2008. Pengana Capital Limited is a wholly owned subsidiary of PHPL) Northward Capital Pty Limited (ACN 113 618 938)

The holder ceased to be a substantial holder on 11/09/2009

The previous notice was given to the company on 10/09/2009 The previous notice was dated (d/m/y) 10/09/2009

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate, in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change	Consideration given in relation to change	Class and number of shares affected	Persons votes affected
11/11/2009 to 11/11/2009	MLC Limited	Share purchase	$9.25 to $9.32	Ordinary 113,987	113,987
11/11/2009 to 11/11/2009 11/11/2009 to 11/11/2009	National Australia Bank Limited	Securities Lending - Increase Securities Lending - Decrease	No consideration directly referable to the securities was provided by NAB No consideration directly referable to the securities was provided by NAB	Ordinary 1,000,000 Ordinary 9,000,000	1,000,000 9,000,000

3. Changes in association

The following persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name andACN(ifapplicable)	Nature ofassociation
No change

4. Addresses

The addresses of persons named in this form are as follows:

The addresses of persons named in this formare asfollows:
	Address
National Australia Bank Limited	Level 3 (UB 3350) 800 Bourke Street DOCKLANDSVIC 3008
MLC Investments Limited	Ground Floor MLC Building 105-153 Miller Street SYDNEY NSW 2000
MLC Limited	Ground Floor 105-153 Miller Street SYDNEY NSW 2000
Northward Capital Limited	Ground Floor MLC Building 105-153 Miller Street SYDNEY NSW 2000
RBC Dexia Investor Services Australia Nominees Pty Ltd	Level 18, 56 Pitt Street, SYDNEY NSW 2000
Elly Investments Pty Ltd	Ground Floor, MLC Building, 105-153 Miller Street, SYDNEY NSW 2000

Signature

name Michaela Healey

signature

Capacity Group Company Secretary for and on behalf of National Australia Bank Limited date 11/09/2009

This is Annexure A of 7 pages referred to in the Form 605 Notice of ceasing to be a substantial holder signed by me and dated 11/9/2009

Michaela Healey, Company Secretary

Company Name ACN 129 177 788 Pty Ltd (In Liquidation) ALICE CORPORATION PTY LTD ALLERTON HOUSE PROPERTIES LIMITED ANCHORAGE HOME LOANS PTY LTD ANGARA COMPANY LIMITED Antares Capital Partners Pty Ltd ANTARES MANAGED INVESTMENTS LIMITED APOGEE FINANCIAL PLANNING LIMITED ARDB LIMITED ARIODANTE LIMITED ASIBOND PTY LIMITED AUSMAQ (NZ) LIMITED AUSTRALIAN BANKS' EXPORT RE - FINANCE CORPORATION LTD AUSTRALIAN COMPANY NUMBER 094 484 625 LIMITED AUSTRALIAN MARKET AUTOMATED QUOTATION (AUSMAQ) SYSTEM LIMITED BANK OF NEW ZEALAND BNZ AgriCapital Limited BNZ BRANCH PROPERTIES LTD BNZ Cash PIE Unit Trust BNZ CORPORATION LTD BNZ EQUIPMENT LTD BNZ Equity Investments Limited BNZ Equity Investments No.2 Limited BNZ Facilities Management Limited BNZ FUNDING LTD BNZ Income Management Limited BNZ Income Securities 2 Limited BNZ Income Securities Limited BNZ INTERNATIONAL (HONG KONG) LIMITED BNZ INTERNATIONAL AUSTRALIA LIMITED (In Liquidation) BNZ INTERNATIONAL FUNDING LTD BNZ INTERNATIONAL LTD BNZ Investment Services Limited BNZ INVESTMENTS LTD BNZ LIFE INSURANCE LIMITED BNZ PROPERTIES (AUCKLAND) LTD BNZ PROPERTIES LTD BNZ PROPERTY INVESTMENTS LTD BNZ RMBS Trust Series 2008-1 BNZ SECURITIES AUSTRALIA LIMITED (In Liquidation) BNZI SECURITIES NO.1 LTD BNZI SECURITIES NO.2 LTD BOACT PTY LTD

BRUNSWICK COLLECTION SERVICES LIMITED C.B.C. PROPERTIES LIMITED CAMBERWELL 3 PTY LTD CAMBERWELL 4 PTY LTD CAMBERWELL 5 PTY LTD Cambridge Real Estate Investments Pte.Ltd CAPITA PROPERTIES PTY. LIMITED CARDS NZ LIMITED CB GROUP INVESTMENTS LIMITED CBC HOLDINGS LIMITED CGF NO. 12 LIMITED CGF NO. 3 LIMITED CGF NO. 6 LIMITED CGF NO. 9 LIMITED CHELONIA SWAPS PTY LIMITED CLYDESDALE BANK ASSET FINANCE LIMITED CLYDESDALE BANK INSURANCE BROKERS LIMITED CLYDESDALE BANK PENSION TRUSTEE LIMITED CLYDESDALE BANK PLC CLYDESDALE EUROPE FINANCE LIMITED CLYDESDALE GROUP INVESTMENTS BV CLYDESDALE GROUP INVESTMENTS LIMITED CLYDESDALE INVESTMENTS B.V. CLYDESDALE INVESTMENTS UK LIMITED COMMERCIAL NOMINEES PTY. LIMITED CRUICKSHANK ASSET MANAGEMENT PTY LIMITED CUSTOM CREDIT HOLDINGS LIMITED (In Liquidation) DEESARN PTY LTD DIBA EQUITIES LIMITED DIBA INVESTMENTS LIMITED DISTRA PTY LTD EDEN VEHICLE RENTALS LIMITED (In Liquidation) ELECTRONIC TRANSACTION SERVICES LTD ELLY INVESTMENTS PTY LTD EVR LIMITED (In Liquidation) FAIRHALSEN COLLECTIONS LIMITED FAIRVIEW EQUITY PARTNERS PTY LTD FBP AWARDS FUND PTY LTD GIBSON HILLS PTY LIMITED GODFREY PEMBROKE LIMITED GUIDESTAR FINANCIAL GROUP LIMITED GUIDESTAR FINANCIAL LIMITED GW Development Americas, Inc GWM ADVISER SERVICES LIMITED HEGIRA LIMITED HICAPS PTY LTD INTERCHANGE AND SETTLEMENT LIMITED JANA INVESTMENT ADVISERS PTY LIMITED Lauriston Dairies Limited

LIMEHOUSE INVESTMENTS PTY LIMITED LOYALTY NEW ZEALAND LIMITED LOYALTY PACIFIC (HONG KONG) LIMITED LOYALTY PACIFIC PTY LTD MACHILL INVESTMENTS LIMITED MATRIX FILM INVESTMENT ONE PTY LIMITED MEDFIN AUSTRALIA PTY LIMITED MLC CORPORATE SERVICES ASIA (SINGAPORE) PTY LIMITED MLC CORPORATE SERVICES ASIA PTE LTD MLC HOLDINGS LIMITED MLC International Holdings (Singapore) Pte Ltd MLC INVESTMENTS LIMITED MLC LIFETIME COMPANY LIMITED MLC LIMITED MLC NOMINEES PTY LTD MLC NOMINEES UK LIMITED

MLC PROPERTIES PTY. LIMITED

MLC SAVINGS LIMITED

MLC TRUST MANAGEMENT COMPANY LTD

MOCKEY 1 PTY LIMITED

MOCKEY 3 PTY LIMITED MOCKEY 4 PTY LIMITED MOCKEY 5 PTY LIMITED MONDEX NEW ZEALAND LTD MSRA HOLDINGS, INC MSRA UK LIMITED (In Liquidation) MUDCHUTE PTY LIMITED N.S.W. HOUSING NO.1 PTY. LIMITED NAB CAPITAL LLC NAB EUROPE LIMITED NAB GOLD, LLC NAB INVESTMENTS LIMITED NAB IRON, LLC NABCAPITAL LEASING (NO. 1) PTY LIMITED NABCAPITAL LEASING (NO.2) PTY LIMITED NabInvest Capital Partners Pty Limited NabInvest Holdings Limited Nabinvest Oxley Singapore Pte.Ltd nabSecurities, LLC NAF TRUSTEE LIMITED NAGE TRUSTEE COMPANY LIMITED NAGEO BV NAM NT RAIL PTY LIMITED NATIONAL INFRASTRUCTURE INVESTMENT NO . 1 PTY LTD(In Liquidation) NATIONAL INFRASTRUCTURE INVESTMENT NO . 2 PTY LTD(In Liquidation) NATIONAL INFRASTRUCTURE INVESTMENT NO . 3 PTY LTD(In Liquidation) NATIONAL AMERICAS CAPITAL INVESTMENTS, LLC NATIONAL AMERICAS HOLDINGS LIMITED National Americas Holdings LLC

NATIONAL AMERICAS INVESTMENT, INC. NATIONAL ASSET MANAGEMENT LIMITED NATIONAL AUSTRALIA (ASSET FINANCE) LIMITED NATIONAL AUSTRALIA BANK (GB) LIMITED NATIONAL AUSTRALIA BANK FINANCE IRELAND LIMITED NATIONAL AUSTRALIA BANK LIMITED NATIONAL AUSTRALIA BANK PENSION TRUSTEE (UK) LIMITED National Australia Bank Representações Ltda. National Australia Bank Superannuation Fund Pty Ltd NATIONAL AUSTRALIA CAPITAL SECURITIES (UK) PLC NATIONAL AUSTRALIA CORPORATE ADVISORY LIMITED (In Liquidation) NATIONAL AUSTRALIA CORPORATE SERVICES LIMITED NATIONAL AUSTRALIA FINANCE (ASIA) LIMITED NATIONAL AUSTRALIA FINANCE (ASSET LEASING) LLP NATIONAL AUSTRALIA FINANCE (ASSET LEASING) LLP NATIONAL AUSTRALIA FINANCE (COMMERCIAL LEASING) LIMITED NATIONAL AUSTRALIA FINANCE (EQUIPMENT LEASING) LIMITED NATIONAL AUSTRALIA FINANCE (EUROPE HOLDINGS) LIMITED NATIONAL AUSTRALIA FINANCE (HONG KONG) PLC NATIONAL AUSTRALIA FINANCE (INFRASTRUCTURE LEASING NO.1) LIMITED NATIONAL AUSTRALIA FINANCE (INFRASTRUCTURE LEASING NO.2) LIMITED NATIONAL AUSTRALIA FINANCE (LEASING) LIMITED NATIONAL AUSTRALIA FINANCE (VESSEL LEASING NO. 2) LIMITED NATIONAL AUSTRALIA FINANCE (VESSEL LEASING NO.1) LIMITED NATIONAL AUSTRALIA FINANCE (VESSEL LEASING NO.3) LIMITED NATIONAL AUSTRALIA FINANCE (VESSEL LEASING NO.4) LIMITED NATIONAL AUSTRALIA FINANCE (VESSEL LEASING NO.5) LIMITED NATIONAL AUSTRALIA FINANCE (VESSEL LEASING NO.6) LIMITED NATIONAL AUSTRALIA FINANCE (VESSEL LEASING) LIMITED NATIONAL AUSTRALIA FINANCIAL MANAGEMENT LIMITED NATIONAL AUSTRALIA FUNDING (DELAWARE) INC. NATIONAL AUSTRALIA GROUP (NZ) LIMITED NATIONAL AUSTRALIA GROUP CIF TRUSTEE LIMITED NATIONAL AUSTRALIA GROUP EUROPE ASSET HOLDINGS LIMITED NATIONAL AUSTRALIA GROUP EUROPE ASSET INVESTMENTS LIMITED NATIONAL AUSTRALIA GROUP EUROPE FINANCE BV NATIONAL AUSTRALIA GROUP EUROPE INVESTMENTS LIMITED NATIONAL AUSTRALIA GROUP EUROPE LIMITED NATIONAL AUSTRALIA GROUP EUROPE SERVICES LIMITED NATIONAL AUSTRALIA GROUP SERVICES LTD NATIONAL AUSTRALIA GROUP SSP TRUSTEE LIMITED NATIONAL AUSTRALIA INSURANCE SERVICES LTD NATIONAL AUSTRALIA INVESTMENT CAPITAL LIMITED NATIONAL AUSTRALIA LTD NATIONAL AUSTRALIA MANAGERS LIMITED NATIONAL AUSTRALIA MERCHANT BANK (SINGAPORE) LIMITED NATIONAL AUSTRALIA OVERSEAS HOLDING (SINGAPORE) PRIVATE LIMITED NATIONAL AUSTRALIA PKI HOLDINGS LLC NATIONAL AUSTRALIA SECURITIES LIMITED

NATIONAL AUSTRALIA TRUSTEES LIMITED NATIONAL AUSTRALIA UK PENSION TRUSTEE LIMITED NATIONAL AUSTRALIA UNDERWRITERS LIMITED NATIONAL CAPITAL FUNDING (UK) PLC NATIONAL CAPITAL HOLDINGS I INC. National Capital Instruments [AUD] LLC 1 National Capital instruments [AUD] LLC 2 National Capital Instruments [EURO] LLC 1 National Capital Instruments [EURO] LLC 2 National Capital Instruments II LLC 2 National Capital Instruments II LLC1 NATIONAL CAPITAL INVESTMENTS LIMITED NATIONAL CAPITAL TRUST I NATIONAL CAPITAL TRUST II (DELAWARE) National Capital Trust III NATIONAL CORPORATE INVESTMENT SERVICES LIMITED NATIONAL EPROCUREMENT UK LIMITED (In Liquidation) NATIONAL EQUITIES LIMITED NATIONAL EUROPE HOLDINGS (GB) LIMITED NATIONAL EUROPE HOLDINGS (WEALTH MANAGEMENT) LTD NATIONAL EUROPE HOLDINGS LIMITED NATIONAL FUNDING HOLDINGS PTY LIMITED NATIONAL FUNDING TRUST I NATIONAL FUNDING TRUST II (DELAWARE) NATIONAL GLOBAL MBS MANAGER PTY LTD NATIONAL GLOBAL MBS MANAGER, INC. NATIONAL HK INVESTMENTS LIMITED NATIONAL MARGIN SERVICES PTY LIMITED NATIONAL MARKETS GROUP LIMITED NATIONAL MORTGAGE SECURITIES, INC. NATIONAL NOMINEES LIMITED NATIONAL OBU PTY LIMITED NATIONAL ONLINE TRADING LIMITED NATIONAL ONLINE TRADING NOMINEES PTY LTD NATIONAL WEALTH MANAGEMENT EUROPE HOLDINGS LIMITED NATIONAL WEALTH MANAGEMENT EUROPE SERVICES LIMITED NATIONAL WEALTH MANAGEMENT HOLDINGS LIMITED NATIONAL WEALTH MANAGEMENT INTERNATIONAL HOLDINGS LTD NATIONAL WEALTH MANAGEMENT NEW ZEALAND HOLDINGS LIMITED NATIONAL WEALTH MANAGEMENT SERVICES LTD NAUTILUS INSURANCE (EUROPE) LIMITED NAUTILUS INSURANCE PTE LIMITED NBA LEASING PTY. LIMITED NBA PROPERTIES (QLD) LIMITED NBA PROPERTIES (VIC.) LIMITED NBA PROPERTIES LIMITED NEW ZEALAND CARD SERVICES LTD NMS NOMINEES PTY LIMITED NORTH BRITISH FINANCE GROUP LIMITED (In Liquidation)

NORTHERN AND GENERAL FINANCE LIMITED NORTHWARD CAPITAL PTY LIMITED NWMH SUB LIMITED O2-E LIMITED P.F.A. (UK) LIMITED PARTOWN PTY LIMITED PEA INVESTMENTS LIMITED PENGANA HOLDINGS PTY LTD PFS NOMINEES PTY LIMITED PLUM FINANCIAL SERVICES LIMITED PMJI INC. PORTSMOUTH INVESTMENT COMPANY PTY LIMITED PUGET LIMITED QW Rail Leasing Limited RELATIONSHIP SERVICES PTY LIMITED RIVER BOYNE PTY. LIMITED(In Liquidation) RIVER EMBLEY PTY. LIMITED RMBS 2006-2 FINANCE COMPANY PTY LIMITED RMBS 2006-2 HOLDINGS PTY LIMITED RMBS 2006-2 INVESTMENT COMPANY PTY LTD ROSIE INVESTMENTS PTY LTD RYCEE 3 PTY LIMITED RYCEE 6 PTY LIMITED SERV CO PTY LTD Shadwell Holdings (UK) Limited SQUADRON NO.1 LIMITED (In Liquidation 02/09/2009) ST VINCENT INVESTMENTS (DEVELOPMENTS) LIMITED ST VINCENT INVESTMENTS (LONDON AND SOUTH) LIMITED ST VINCENT INVESTMENTS (NORTH AND SCOTLAND) LIMITED ST VINCENT INVESTMENTS (NORTH WEST) LIMITED ST VINCENT INVESTMENTS LIMITED STARFISH COMPANY LIMITED STORECARD LIMITED STORECARD LIMITED TASOVAC PTY LIMITED THE DEEP IN HULL LIMITED THE SCOTTISH AGRICULTURAL SECURITIES CORPORATION P.L.C. TOKENHOUSE INVESTMENTS LIMITED UFINANCIAL SERVICES PTY LTD (IN LIQUIDATION) VALEWIN PTY LIMITED VILEXTON PTY LTD VIPRO PTY LTD VPL SECURITIES PTY. LIMITED (In Liquidation) WM ASIA LIMITED WORKING CAPITAL SERVICES PTY LTD Working Capital Services UK Limited Xero Limited YB LEASE LIMITED YB TRUST COMPANY LIMITED

YORBANK NOMINEES LIMITED YORKSHIRE AND CLYDESDALE BANK FOUNDATION YORKSHIRE BANK COMMERCIAL LEASING LIMITED YORKSHIRE BANK EQUIPMENT LEASING LIMITED YORKSHIRE BANK FINANCE LIMITED YORKSHIRE BANK FINANCIAL SERVICES LIMITED YORKSHIRE BANK HOME LOANS LIMITED YORKSHIRE BANK INVESTMENTS LIMITED YORKSHIRE BANK NOMINEES LIMITED YORKSHIRE BANK PUBLIC LIMITED COMPANY YORKSHIRE BANK RETAIL SERVICES LIMITED YORKSHIRE BIHK LIMITED YORLEASE LIMITED YOUFINANCIAL SERVICES PTY LTD (IN LIQUIDATION) YOUNG STREET LIMITED