STOCKLAND — Capital/Financing Update 2009

Aug 17, 2009

133 Castlereagh Street T 02 9035 2000 Sydney NSW 2000 F 02 8988 2000

www.stockland.com.au

==> picture [72 x 72] intentionally omitted <==

18 August 2009 ASX/Media Release

STOCKLAND SECURES RESIDENTIAL DEVELOPMENT SITE IN KEY VICTORIAN GROWTH CORRIDOR

Stockland has acquired a 124ha land parcel in Victoria’s fastest growing municipality, the City of Wyndham, for $56.5 million on deferred payment terms.

Settlement of the purchase is conditional upon re-zoning and is expected to occur in early FY11, with profit contribution also expected to commence in FY11.

Located 20 kilometres south-west of the Melbourne CBD at Leakes Road Truganina, the site provides Stockland with a strategic presence in a key Victorian corridor where it currently has no exposure.

Stockland CEO Residential, Mark Hunter, said this was a clear demonstration of the company’s ability to increase its market share and geographic diversity in key growth areas across the country.

“The site is in Victoria’s fastest growing municipality and the second fastest growing area in Australia. It is a key example of our commitment to diversifying our land holdings in line with our growth strategy for the Residential business.

“The site will give our Victorian business significant exposure to the popular Wyndham corridor,” Mr Hunter said.

With a concept masterplan for around 1,300 lots, the site will enable Stockland to deliver a future masterplanned community incorporating parks, schools and commercial facilities.

“This property has been privately owned for over 50 years and we intend to acknowledge the family history of the site in our plans,” Mr Hunter said.

“We look forward to working with the City of Wyndham and other local stakeholders to deliver a sustainable new community at Truganina.”

The sale was conducted via a public Expression of Interest process handled by Paul Powderly, Theo George and Tim Mutton of Colliers International.

For media enquiries contact		For investor enquiries contact
Karyn Munsie	Katie Lennon	Karyn Munsie	Joanne Trimboli
EGM - Corporate AffairsStockland	Media Relations ManagerStockland	EGM - Corporate AffairsStockland	Investor Relations ManagerStockland
T+61 (0)2 9035 2180	T+61 (0)2 9035 2552	T+61 (0)2 9035 2180	T+61 (0)2 9035 2553
M+61 (0)421 050 430	M+61 (0)406 316 907	M+61 (0)421 050 430	M+61 (0)403 972 736

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