STOCKLAND — Board/Management Information 2005

Jul 19, 2005

20 July 2005

Level 16 157 Liverpool Street SYDNEY NSW 2000

www.stockland.com.au

Tel: 02 9321 1500 Fax: 02 9321 1599

STOCKLAND APPOINTS PETER SCOTT AS NON EXECUTIVE DIRECTOR

The Board of Stockland is pleased to announce the appointment of Mr Peter Scott as an additional non executive director. Mr Scott will take up his appointment on 9 August 2005.

Mr Scott recently resigned as Chief Executive Officer of MLC and Executive General Manager, Wealth Management of National Australia Bank, where he had overseen the successful integration of the MLC business into the Bank. He was first appointed Chief Executive Officer of MLC in 1998 and the organisation achieved significant growth in profits and returns under his leadership.

Prior to running MLC Mr Scott held a number of senior positions with Lend Lease, including Managing Director of Civil & Civic and Lend Lease Interiors, following a successful career as a consulting engineer, both in Australia and overseas.

Mr Scott is a non-executive director of Perpetual Trustees Australia Limited and Sinclair Knight Merz. He is a Member of the Strategic Advisory Panel for the Project Management Graduate Programme at the University of Sydney and is a Board member of the Centre for Engineering Leadership and Management at the Institution of Engineers, Australia.

Mr Scott is a highly respected member of the Australian business community, particularly within the financial management and engineering sectors, and Stockland welcomes the broad range of experience and skills he will bring to the Board.

Mr Scott said, "I am delighted to join the Board of Stockland, a group with an outstanding record of consistent and strong returns to shareholders over many years."

The appointment is made by the Board until the next AGM at which time Mr Scott will offer himself for election by shareholders.

For further information contact:

Peter Dalv Chairman Stockland Tel: (02) 9321 1501

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