STOCKLAND — Capital/Financing Update 2011

Dec 1, 2011

133 Castlereagh Street T 02 9035 2552 Sydney NSW 2000 F 02 8988 2552

www.stockland.com.au

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2 December 2011 ASX/Media Release

COLES TO PURCHASE TOORONGA SITE

Stockland has entered into an unconditional agreement to sell the undeveloped land at its Tooronga project in Melbourne to Coles, with settlement to occur in October 2013.

The site, which is the undeveloped stages 2 – 5 of the Tooronga apartments project, is made up of 7.7 hectares of developable land.

The land sale is part of Stockland’s strategy to exit the Apartments business.

Stockland will retain ownership of the Coles anchored shopping centre which opened in August 2010.

CEO Residential Mark Hunter said: “This sale is another important step forward in the wind down of our Apartments business.”

The sale price, which is subject to confidentiality, is above impaired book value. The site was subject to impairment in FY09 and the surplus will therefore be excluded from the group’s underlying profit.

For media enquiries contact		For investor enquiries contact
Michelle Taylor	Brett Zarb	Karyn Munsie
Senior Manager External	Media Relations Manager	EGM – Corporate Affairs
Communications	Stockland	Stockland
Stockland
T+61 (0)2 9035 2786	T+61 (0)2 9035 2552	T+61 (0)2 9035 2180
M+61 (0)400 356 692	M+61 (0)417 256 563	M+61 (0)421 050 430

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.