STOCKLAND — Director's Dealing 2005

Oct 24, 2005

25 October 2005

Level 16 157 Liverpool Street SYDNEY NSW 2000

www.stockland.com.au

Tel: 02 9321 1500 Fax: 02 9321 1599

Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

SGP: Appendix 3Z - Final Director's Interest Notice

Please find attached an Appendix 3Z in relation to the relevant interests of Mr Peter Daly.

Yours sincerely

Phillip Heft

Phillip Hepburn Secretary

Stockland Corporation Limited ACN 000 181 733 Stockland Trust Management Limited ACN 001 900 741 AFSL No. 241190 As Responsible Entity for Stockland Trust ARSN 092 897 348

Appendix 3Z

Rule 3.19A.3

Final 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 30/9/2001.

	Name of entity
	STOCKLAND
	(Joint listing of Stockland Corporation Limited and Stockland Trust)
ABN
	Stockland Corporation Limited - 43 000 181 733
	Stockland Trust - 12 706 208 920

We (the entity) give ASX the following information under listing rule 3.19A.3 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	Peter John Daly
Date of last notice	20 October 2003
Date that director ceased to be director	25 October 2005

Part 1 - Director's relevant interests in securities of which the director is the registered holder 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.

Number & class of securities

1,501,000 SGP Stapled Securities

+ See chapter 19 for defined terms.

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

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.

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

Name of holder & nature of interestNote: Provide details of the circumstances giving rise tothe relevant interest	Number & class of securities
R.W. Jones for Glen ReganTrust - Mr Daly is a potentialbeneficiary of the Trust	330,758 SGP Stapled Securities
Tipglen Pty Limited - CorporateTrustee of Mr Daly'ssuperannuation fund	41,000 SGP Stapled Securities
Diana Jean Daly - spouse	1,210 SGP Stapled Securities

Part 3 – Director's interests in contracts

Detail of contract
Nature of interest
Name of registered holder(if issued securities)
No. and class of securities towhich interest relates

$+$ See chapter 19 for defined terms.