LENDLEASE GROUP — Major Shareholding Notification 2009

Feb 23, 2009

604 page 1/2 15 July 2001

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company name/Scheme LEND LEASE PRIMELIFE ("LLP") ACN/ARSN

1. Details of substantial holder (1)

Name Lend Lease Corporation Limited ("LLC"), Lend Lease Capital Services Pty Ltd ("LLCS") and each other subsidiary of LLC (together the "LLC Group")

ACN/ARSN (if applicable) 000 226 228

There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated

20 February 2009 2 January 2009 2 January 2009

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person's votes	Voting power(5)	Person's votes	Voting power(5)
Ordinary Fully Paid Stapled Securities	380,551,394	41%	417,684,727	43.2%

3. 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	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
20 February 2009	Each member of the LLC Group		Acquisition of a relevant interest under s608(1) Corporations Act. On 20 February 2009, LLP issued 37,133,333 securities to LLCS and LLCS was registered as the holder of those securities, pursuant to the Implementation Agreement filed with LLC's change in substantial holding notice dated 2 January 2009.	$22,280,000.00 ($0.60 per ordinary fully paid stapled security)	37,133,333 ordinary fully paid stapled securities	37,133,333
relevant interests each relevant interest of the substantial holder in voting securities after the change are as follows:
Holder of relevant interest		Registered holder of securities	Persons entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

ASX\AARLEG-#11736002-v3-Notice_of_change_in_substantial_shareholding-Second_tranche_B_(part_2).DOC

604 page2/2 15 July 2001 Each member of the LLC Group LLC LLC Relevant interest under s608(1) of the Corporations Act as the holder of those securities 49,307,352 ordinary fully paid stapled securities 49,307,352 Each member of the LLC Group LLCS LLCS Relevant interest under s608(1) of the Corporations Act as the holder of those securities 368,377,375 ordinary fully paid stapled securities 368,377,375 in association ho have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to s in the company or scheme are as follows: Name andACN/ARSN(ifapplicable) Nature ofassociation N/A es s of persons named in this form are as follows: Name Address Lend Lease Corporation Limited Level 4, 30 The Bond, 30 Hickson Road Millers Point NSW 2000 ������������ e print name William Hara capacity Company Secretary sign here Signed: William Hara date24 February 2009	604 page2/2 15 July 2001 Each member of the LLC Group LLC LLC Relevant interest under s608(1) of the Corporations Act as the holder of those securities 49,307,352 ordinary fully paid stapled securities 49,307,352 Each member of the LLC Group LLCS LLCS Relevant interest under s608(1) of the Corporations Act as the holder of those securities 368,377,375 ordinary fully paid stapled securities 368,377,375 in association ho have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to s in the company or scheme are as follows: Name andACN/ARSN(ifapplicable) Nature ofassociation N/A es s of persons named in this form are as follows: Name Address Lend Lease Corporation Limited Level 4, 30 The Bond, 30 Hickson Road Millers Point NSW 2000 ������������ e print name William Hara capacity Company Secretary sign here Signed: William Hara date24 February 2009	604 page2/2 15 July 2001 Each member of the LLC Group LLC LLC Relevant interest under s608(1) of the Corporations Act as the holder of those securities 49,307,352 ordinary fully paid stapled securities 49,307,352 Each member of the LLC Group LLCS LLCS Relevant interest under s608(1) of the Corporations Act as the holder of those securities 368,377,375 ordinary fully paid stapled securities 368,377,375 in association ho have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to s in the company or scheme are as follows: Name andACN/ARSN(ifapplicable) Nature ofassociation N/A es s of persons named in this form are as follows: Name Address Lend Lease Corporation Limited Level 4, 30 The Bond, 30 Hickson Road Millers Point NSW 2000 ������������ e print name William Hara capacity Company Secretary sign here Signed: William Hara date24 February 2009
Name		Address
Lend Lease Corporation Limited		Level 4, 30 The Bond, 30 Hickson Road
		Millers Point NSW 2000
������������ e print name sign here
	Signed: William Hara date24 February 2009

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

6. Addresses

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

��������������������� Signature

ASX\AARLEG-#11736002-v3-Notice_of_change_in_substantial_shareholding-Second_tranche_B_(part_2).DOC