MIRVAC GROUP — Regulatory Filings 2002

Nov 6, 2002

November 7, 2002

Stock Exchange Announcement

Mirvac Group to Develop Commercial Asset in Brisbane

Following a media release from the South Bank Corporation issued last week, Mirvac Group wishes to add the following information.

Mirvac Group will develop a commercial building on Grey Street in Brisbane's South Bank precinct with an estimated end value of \$41 million.

The 12,500 square metre building will be developed by Mirvac Queensland through a construction management agreement with Thiess and will be held as an investment asset by the Mirvac Group.

Upon completion, Thiess will enter an eight year lease for almost 4,000 square metres of the building.

Mirvac Investments chief executive officer Mr Barry Neil said the building, which is expected to be completed by the end of 2004, has a forecast yield on cost in excess of 9.5 per cent.

The press release issued last week by the South Bank Corporation is attached.

Ends.

Further information: Peter Kermode Mirvac Group $(02)$ 9080 8474

media release

28 October 2002

GREY STREET GETS INTO BUSINESS

Grey Street at South Bank had established itself as a vital business district. South Bank Corporation chief executive officer Bill Grant said today.

Announcing a new multi-level commercial building for Grey Street at South Bank, Mr Grant said South Bank's diversity and increasing popularity meant it was not only a great place to live and play, but also to work.

Mr Grant said the commercial building, to be constructed beside the current Thiess headquarters on Grey Street, would be developed by Mirvac through a construction management agreement with Thiess. Mirvac would retain the building in its investment portfolio.

The building of 12.500m² of lettable space will be due for completion in late 2004. Almost 4,000m² has been pre-committed to Thiess who intend to move operations from Milton to South Bank.

Mr Grant said the new commercial development would further enhance the South Bank precinct.

"At South Bank commerce, leisure, arts, retail and education blend to deliver a precinct that is alive, vibrant and a place where people want to come, both day and night, on weekdays and weekends." Mr Grant said.

"The inviting street frontage of this new building as well as the numerous people who will work within it will further activate Grey Street and add to the South Bank community."

Mirvac, one of Australia's largest and most successful property investment, property development and hotel management companies, has recently completed its \$120 million The Arbour on Grey, its flagship residential, commercial and retail complex that overlooks the South Bank Parklands and which now accommodates Mirvac's Queensland headquarters.

Mirvac Chief Executive Officer Chris Freeman said that quality office space was in short supply in the South Bank precinct

"Mirvac has developed over 150,000 square metres of quality commercial space around Australia including the building where our head office now is. We believe we have the expertise to deliver a great building in a precinct we know very well." Mr Freeman said.

"The innovative design and the incorporation of the latest technologies in the building would complement the South Bank environment and in addition the benefits of the parklands, public transport and access are all huge advantages for companies looking for new premises.

"So far as commercial office space goes we believe that this new building with its outstanding location and design will be much sought after," Mr Freeman said.

"The building will include an exciting podium level which will link with the existing Thiess building and an attractive street entry - not to mention spectacular river and city views.

"Here you will have the best of both worlds - the convenience of working in the city with the relaxed style that is South Bank."

Thiess Building Manager-Qld/NT/Pacific Mr Peter Sheehy said the company was looking forward to further supporting the development of the South Bank precinct.

"We have been enjoying the benefits of basing our head office on Grey Street for the past few years, so we see the relocation to South Bank of our Queensland, Northern Territory and Pacific headquarters as a natural progression," he said.

"Not only will the move provide us with the synergies of collocating the two offices, it will further enhance the South Bank community and business district."

Work is expected to start on the development in April 2003.

ENDS

Media Enquiries Tania Stibbe Public Relations Executive South Bank Corporation Telephone: 07 3867 2010 / 0403.246.059