STOCKLAND — Board/Management Information 2005

Oct 24, 2005

ASX Announcement 25 October 2005

$1$ aval $16$ 157 Liverpool Street SYDNEY NSW 2000

www.stockland.com.au

Tel: 02 9321 1500 Fax: 02 9321 1599

STOCKLAND APPOINTS LYN GEARING AS NON-EXECUTIVE DIRECTOR

Stockland Chairman Mr Peter Daly today announced the appointment of Ms Lyn Gearing as a non-executive director of Stockland, effective from 1 November 2005. The announcement was made at the company's Annual General Meeting, held today in Sydney.

Ms Gearing was Chief Executive of NSW State Super from 1997 to 2002, prior to which she held numerous senior business development, asset and investment management positions within the Rothschild Group, both in Australia and internationally. She is also an experienced financial consultant.

Ms Gearing is currently a non-executive director of Guild Insurance and Financial Services Limited, Hancock Natural Resource Group Australia Pty Limited and the IMB Society Limited.

Mr Daly said "Ms Gearing is a highly respected member of the Australian business community, particularly within the funds management and financial services sectors, and Stockland welcomes the broad and complementary range of skills she will bring to the Board."

"Ms Gearing's appointment, along with the skills and experience of our existing Directors, confirm our continued process of enhancing our Board capabilities and put the group in a good position for the future."

Ms Gearing said "I am delighted to join the Board of Stockland, a group with an outstanding record of consistent and strong returns to security holders over many years."

The appointment is made by the Board until the next Annual General Meeting at which time Ms Gearing will offer herself for election by security holders.

For further information contact:

Amy Menere Corporate Communication Manager Stockland Tel: 9561 2664 Mobile: 0422 449 310

Stockland (ASX: SGP) is one of the largest and most diversified property groups in Australia with interests in retail, commercial, industrial and residential property investment and development, as well as hotel management. Stockland currently has total assats in Australia and New Zealand of over $8.4 billion, market capitalisation in excess of $7 billion, and reported an operating profit of $517 million for the year ended 30 June 2005. Additional information can be found on our website www.stocktand.com.au

Stockland Corporation Limited ACN 000 181 733 Stockland Trust Management Limited ACN 001 900 741; AFSL 241190 As Responsible Entity for Stockland Trust ARSN 092 897 348