LENDLEASE GROUP — Major Shareholding Notification 2010

Mar 17, 2010

LLC

Form 603 Corporations Law Notice of initial substantial holder Section 671B LLC To:Company Name/Scheme The Secretary Lend Lease Corporation Limited Level 4 30 Hickson Road Millers Point NSW 2000 FAX: (02) 9383 8133 ACN/ARSN ACN 000 226 228 1. Details of substantial shareholder National Australia Bank Limited (ACN 004 044 937) and its associated companies listed in Name Annexure A and which includes: ACN (if applicable) MLC Investments Limited ACN 002 641 661 MLC Limited ACN 000 000 402 National Nominees Limited ACN 004 278 899 RBC Dexia Investor Services Australia Nominees Pty Ltd (MasterKey Custom Super) (ACN 097 125 123) Northward Capital Pty Limited ACN 113 618 938 MLC Wealth Management Limited ACN 38 095 045 784 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)

The holder became a substantial holder on 15/03/2010

2. Details of 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 had a relevant interest in on the date the substantial holder became a substantial holder are as follows:

Class of securities	Number of securities	Persons’ votes	Voting power
Ordinary	26,957,677	26,957,677	5.163%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest	Class and number of securities
MLC Investments Limited	Power to control voting and/or disposalofsecurities	Ordinary 21,451,945
MLC Limited	Power to control voting and/or disposalofsecurities	Ordinary 242,806
National Australia Bank Limited	Power to control voting and/or disposalofsecurities	Ordinary 109,000
Northward Capital Limited	Power to control voting and/or disposalofsecurities	Ordinary 4,586,230
Elly Investments Pty Limited	Power to control voting and/or disposalofsecurities	Ordinary 8,426
MLC Wealth Management Ltd	Power to control voting and/or disposalofsecurities	Ordinary 559,270
TOTAL		26,957,677

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4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder	Class and number of securities
MLC Limited	National Nominees Limited (ACN 004 278 899)		Ordinary 242,806
MLC Investments Limited	RBC Global Services Australia Nominees Pty Limited (MasterKey Custom Superannuation Fund A/C) (ACN 097 125 123) National Nominees Limited (ACN 004 278 899)		Ordinary 255,488 Ordinary 21,196,457
Northward Capital Pty Limited	Northward Capital Pty Limited (ACN 113 618 938)		Ordinary 4,586,230
National Australia Bank Limited	National Nominees Limited (ACN 004 278 899)		Ordinary 109,000
Elly Investments Pty Limited	Cogent Nominees Pty Ltd (ACN 084 150 023)		Ordinary 8,426
MLC Wealth Management Limited	JP Morgan Nominees Australia Limited (ACN. 002 899 961) Navigator Australia Limited (ACN. 006 302 987) Tokara Pty Ltd (ACN: 082 564 261)		Ordinary 507,472 Ordinary 51,765 Ordinary 33
		TOTAL	26,957,677

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

	holder is asfollows:
Holder of relevant interest	Date of acquisition	Consideration		Class and number of securities
		Cash	Non-cash
MLC Limited	09/03/2010 – 15/03/2010	$7.70		Ordinary 44,963
MLC Investments Limited	09/03/2010 – 15/03/2010	$7.70 – $9.04		Ordinary 3,954,056
Northward Capital Pty Limited	09/03/2010 – 15/03/2010	$7.70		Ordinary 849,302
Elly Investments Pty Limited	09/03/2010 – 15/03/2010	$8.41 – $8.65		Ordinary 1,368

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National Australia Bank Limited	09/03/2010 – 15/03/2010	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 1,506,000 Ordinary 1,969,000
MLC Wealth Management Limited	09/03/2010 – 15/03/2010	$7.70 to $8.67		Ordinary 361,721

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable	Nature of association
MLCInvestmentsLimited	Is anassociated company of National AustraliaBank Limited
MLCLimited	Is anassociated company of National AustraliaBank Limited
Northward Capital PtyLtd	Is anassociated company of National AustraliaBank Limited
EllyInvestmentsPtyLtd	Is anassociated company of National AustraliaBank Limited
MLC Wealth Management Ltd	Is an associated company of National Australia Bank Limited

7. Addresses

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

Name	Address
National Australia Bank Limited	Level 4 (UB 4440) 800 Bourke Street DOCKLANDSVIC 3008
MLC Investments Limited	Ground Floor MLC Building 105-153 Miller Street SYDNEY NSW 2000
MLC Limited	Ground Floor MLC Building 105-153 Miller Street SYDNEY NSW 2000
RBC Global Services Australia Nominees Pty Limited	Level 18 56 Pitt Street SYDNEY NSW 2000
Northward Capital Pty Ltd	Ground Floor 105-153 Miller Street SYDNEY NSW 2000
MLC Wealth Management Limited	Level 6, 509 St Kilda Rd, MelbourneVIC 3004
National Nominees Limited	Level 4 (UB 4440) 800 Bourke Street DOCKLANDSVIC 3008
Elly Investments Pty Ltd	Ground Floor, MLC Building, 105-153 Miller Street, SydneyNSW 2000
Cogent Nominees Pty Ltd	Level 6, 60 CastlereaghStreet,

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			SydneyNSW 2000
		JP Morgan Nominees Australia Limited	Level 37 259 George St, SydneyNSW 2000
		Navigator Australia Pty Ltd	Level 6, 509 St Kilda Rd, MelbourneVIC 3004
		Tokara Pty Ltd	Level 6, 509 St Kilda Rd, MelbourneVIC 3000
		Michaela Healey	Capacity Group Company Secretary for and on behalf of National Australia Bank Limited
Signature print name signature
			date 18/03/2010

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This is Annexure A of 7 pages referred to in the Form 603 Notice of becoming a substantial holder signed by me and dated 18/03/2010

Michaela Healey, Company Secretary

Company Name

ACN 129 177 788 Pty Ltd (In Liquidation)

Advantedge Financial Services Holdings Pty Ltd Advantedge Financial Services Pty Ltd

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

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

Calibre Asset Management 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 CHELONIA SWAPS PTY LIMITED Choice Lend Pty Ltd CLYDESDALE BANK ASSET FINANCE LIMITED CLYDESDALE BANK INSURANCE BROKERS LIMITED CLYDESDALE BANK PLC CLYDESDALE EUROPE FINANCE LIMITED CLYDESDALE GROUP INVESTMENTS BV 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 Fastlend Pty Ltd FBP AWARDS FUND PTY LTD Finance & Systems Technology Holdings Pty Limited

Finance & Systems Technology Pty Ltd Financial Technology (Australia) Pty Ltd Fintrack Members Pty Ltd Generation Financial Solutions Pty Ltd GIBSON HILLS PTY LIMITED GODFREY PEMBROKE LIMITED Great Western Bancorporation, Inc Great Western Bank Great Western Service Corporation GUIDESTAR FINANCIAL GROUP LIMITED GUIDESTAR FINANCIAL LIMITED GW Development Americas, Inc GW Leasing, Inc. GWB LLC GWM ADVISER SERVICES LIMITED HEGIRA LIMITED HICAPS PTY LTD Independent Mortgage Affiliates Pty Limited Infocus Wealth Management Limited INTERCHANGE AND SETTLEMENT LIMITED JANA INVESTMENT ADVISERS PTY LIMITED JBWere (NZ) Nominees Limited JBWere (NZ) Pty Ltd JBWere Pty Ltd Lauriston Dairies Limited LIMEHOUSE INVESTMENTS PTY LIMITED Lodestar Capital Partners 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 Meritum Financial Group Pty Ltd MLC Alliance Holdings 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 MLC Wealth Management Limited MOCKEY 1 PTY LIMITED

MOCKEY 3 PTY LIMITED MOCKEY 4 PTY LIMITED MOCKEY 5 PTY LIMITED MONDEX NEW ZEALAND LTD Mortgage Support Services Pty Ltd MSRA HOLDINGS, INC MSRA UK LIMITED (In Liquidation) Mss Mf Pty Ltd Mss Mfa Pty Ltd MUDCHUTE PTY LIMITED MUDCHUTE PTY LIMITED N.S.W. HOUSING NO.1 PTY. LIMITED 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 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 LIMITED NATIONAL AUSTRALIA BANK PENSION TRUSTEE (UK) LIMITED National Australia Bank Representações Ltda. 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 (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 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 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 Navigator Australia 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) NORTH BRITISH FINANCE GROUP LIMITED (In Liquidation) NORTHERN AND GENERAL FINANCE LIMITED NORTHWARD CAPITAL PTY LIMITED Norwich Union Life Australia Ltd. NULIS Nominees (Australia) Limited NWMH SUB LIMITED O2-E LIMITED P.F.A. (UK) LIMITED PARTOWN PTY LIMITED PEA INVESTMENTS LIMITED PENGANA HOLDINGS PTY LTD Pennley Pty Ltd PFS NOMINEES PTY LIMITED Plan Australia Financial Services Pty. Ltd. Plan Australia Operations Pty. Ltd. Plan Australia Pty Ltd Plan Group Holdings Pty Ltd Plan Group Nominees Pty Ltd Plan Lending Pty. Ltd. Plan Technologies Pty. Ltd.

PLUM FINANCIAL SERVICES LIMITED PMJI INC. PORTSMOUTH INVESTMENT COMPANY PTY LIMITED Professional Lenders Association Network Of Australia Pty. Ltd. PUGET LIMITED QW Rail Leasing Limited RELATIONSHIP SERVICES PTY LIMITED 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 St Vincent Investments (Ancoats) Limited

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. Tokara Pty Ltd TOKENHOUSE INVESTMENTS LIMITED UFINANCIAL SERVICES PTY LTD (IN LIQUIDATION) VALEWIN PTY LIMITED VILEXTON PTY LTD VPL SECURITIES PTY. LIMITED (In Liquidation) Vynotas Pty. Ltd. WM ASIA LIMITED WM ASIA LIMITED WM Australia Pty Limited WM Fixed Assets (2) Pty Limited WM Group Pty 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 AND CLYDESDALE BANK PENSION TRUSTEE LIMITED 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 PLC YORKSHIRE BANK RETAIL SERVICES LIMITED YORKSHIRE BANK RETAIL SERVICES LIMITED YORKSHIRE BIHK LIMITED YORLEASE LIMITED YOUFINANCIAL SERVICES PTY LTD (IN LIQUIDATION) YOUNG STREET LIMITED