MIRVAC GROUP — Major Shareholding Notification 2003

Mar 24, 2003

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

Mirvac Limited To: ACN/ARSN: 003 280 699

1. Details of substantial holder

Name ABN	Barclays Group ("Barclays")	33 001 804 566 (Barclays Global Investors Australia Limited)
There was a change in the interests of the substantial holder on		20/3/03
company on	The previous notice was given to the	7/1/03
The previous notice was dated		7/1/03

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 an associate had a relevant interest 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	Previous notice		Present notice
-----	Person's votes	Voting power	Person's votes	Voting power
Ordinary	33,143,458	5.31%	42.812.671	6.36%

3. Changes in relevant interests

Particulars of each change in, or change on 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 securities affected	Person s votes affected
20/3/03	Barclays	Increase in voting power	On market	42,812,671	6.36%

25/03/03

$\bar{1}$ $\epsilon$

4. Present relevant interests

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

Holder of relevant interest	Registered holder of securities	Nature of relevant interest	Class and number of securities	Person's votes
Barclays	JP Morgan & other Custodians - refer to Annexure A	Fund Manager - refer to Annexure A	42,812,671	6.36%

5. Addresses

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

Name	Address
Barclays Global Investors	1/111 Harrington Street, Sydney NSW 2000
Australia Limited	. ___

Signature

$^\prime\rho$

Christopher Robson Barclays Global Investors Australia Company Secretary

$25/3/03$

Date

This is "Annexure A" of 1 page referred to in Form 604 Notice of change of interests of substantial holder

Relevant interest in Mirvac Limited held by the Barclays Group ("Barclays").

The list of Barclays entities and their respective holdings are as follows:

ASX CODE	STOCK NAME	HOLDING	℆	COMPANY
MGR	MIRVAC GROUP	43,650		0.0065 Barclays Nikko Global Investors Ltd
MGR	MIRVAC GROUP	688,829		Barclays Global Investors Japan Trust & 0.1023 Banking
MGR	MIRVAC GROUP	7,377,295		1.0956 Barclays Global Investors, N.A.
MGR	MIRVAC GROUP	243,458		0.0362 Barclays Global Fund Advisors
MGR	MIRVAC GROUP	6,041,213		0.8972 Barclays Global Investors Ltd
MGR	MIRVAC GROUP	27,715,458		4.1160 Barclays Global Investors Australia Ltd
MGR.	MIRVAC GROUP	702,768		0.1044 Barclays Capital Securities Ltd
		42,812,671	6.3582

The JP Morgan Chase Bank Inc. and various other custodians (Custodians) hold shares in Mirvac Limited (Mirvac) as custodian and for which Barclays is either:

• the responsible entity or trustee of pooled investment products such as registered $\mathbf{A}^{\text{max}}$ managed investment schemes (Funds): or
• the investment manager of Portfolios held for a number of institutional investors. The $\bullet$ institutional investors are generally superannuation funds regulated under the Superannuation Industry Supervision Act 1993.

The holding of shares in Mirvac was acquired as part of the wide portfolio of Australian shares and units acquired for the Funds and the Portfolios.

Barclays and the Custodians may hold relevant interests due to the capacity of these entities to dispose of the shares in Mirvac.

Each investor in a Fund owns an undivided interest in the Fund's assets, no client directly owns any asset of the Fund. The unitholding of each Fund varies from time to time as clients enter and withdraw from the Funds. The various institutional investors with portfolios delegate the management of the portfolios to Barclays.

Christopher Robson Company Secretary Barclays Global Investors Australia