RURAL FUNDS GROUP — Director's Dealing 2015

Oct 11, 2015

Rural Funds Group (RFF)

Rurai Funds Management LtdAUN 65 077 492 638 Al St 226701

Level 2, 2 King Street Dealun ACT 2600Locked Bag 150 Kingston ACT 2604 P 02 6203 9700 F 02 6281 5077 E management@ruraltunds.com.au W www.ruralfunds.com.au

ASX Release

Subject: Lodgement of 3Y

12 October 2015

RFM as responsible entity and manager of the Rural Funds Group wishes to advise that the attached Form 3Y, should have been lodged by 5 October 2015. This did not occur due to an administrative oversight.

The manager has procedures in place, including the recording of trades by Directors on internal registers and a requirement that Directors advise any RFF trading as soon as the trade occurs. Both these procedures were followed correctly, however an administrative error resulted in the Form 3Y not being lodged within the appropriate timeframe.

About Rural Funds Group (RFF)

RFF owns a diversified portfolio of high quality Australian agricultural assets. RFF's investment objective is to generate a stable income stream derived from leasing its assets to suitable counterparts and capital growth through any appreciation in the value ofthose assets. RFF is a stapled security, incorporating Rural Funds Trust (ARSN 112 951 578) trading under the ASX code 'RFF'. Rural Funds Management Ltd (RFM) is the responsible entity of RFF.

For further information:	For media enquiries:	For investor relations enquiries :
David BryantManaging DirectorRural Funds ManagementT0262039703E DBryant@ruralfunds.com.au	Stuart WalghtChief Operating OfficerRural Funds ManagementT0419 126 689E SWaight@ruralfunds.com.au	James PowellInvestor Relations & DistributionManagerRural Funds ManagementT0420 279 374E JPowell@ruralfunds.com.au

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity
Rural Funds Trust and RF Active a stapled entity trading as Rural Funds Group
(ASX:RFF)
ABN
RFM 65 077 492 838; Rural Funds Trust 58 916 212 858; RF Active 18 611 617 622

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Leslie Guy Julian Paynter
Date of last notice	13 April 2015

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Boskenna Pty Ltd
Date of change	28 September 2015
No. of securities held prior to change	382,156
Class	Ordinary units
Number acquired	80,000
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$1.15
No. of securities held after change	462,156

+ See chapter 19 for defined terms.

Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuv-back	On-market trade

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder(if issued securities)
Date of change
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation
Interest after change

Part 3 - +Closed period

Were the interests in the securities or contracts detailed $\vert$ Noabove traded during a $^+$ closed period where prior writtenclearance was required?
If so, was prior written clearance provided to allow the trade -to proceed during this period?
If prior written clearance was provided, on what date was this -provided?

+ See chapter 19 for defined terms.