MIRVAC GROUP — Board/Management Information 2004

Oct 20, 2004

21 October, 2004

Stock Exchange Announcement

Mr Barry Neil resigned his position as a Director of Mirvac Limited and Mirvac Funds Limited, the responsible entity of Mirvac Property Trust on Thursday 21 October 2004.

Mirvac managing director Mr Robert Hamilton said Mr Neil had signalled a desire to stand down from his position at the Group to pursue other interests and new challenges.

"Barry has achieved a tremendous amount with us and has been instrumental to the success of the Group, particularly through his work within the Investment Division," Mr Hamilton said.

"Under his leadership, the value of the Group's investment assets increased by 80 per cent to \$2.4 billion and profit from the Investment Division grew by 81 per cent to \$136 million. We wish him every success for the future."

Further information

Sue Myers Company Secretary 02 9080 8411