STOCKLAND — Director's Dealing 2007

Sep 2, 2007

Appendix 3Y

Rule 3.19A.2

Change of 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.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Nicholas Frank Greiner
Date of last notice	28 August 2007

Part 1 - Change of director's relevant interests in securities

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.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise tothe relevant interest.	Name of holder: Gabane Pty Limited asTrustee for Hugo FrankCapital AccountNature of interest:Director
	Name of holder: Gabane Pty LimitedSuperannuation FundNature of interest:Director
Date of change	31 August 2007
No. of securities held prior to change	48,856 comprising:1,786Nicholas Frank Greiner11,107Gabane Pty Limited as Trusteefor Hugo Frank Capital Account35,963Gabane Pty LimitedSuperannuation Fund

+ See chapter 19 for defined terms.

Class	Ordinary Stapled Securities
Number acquired	1335
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	$7.98 per security
No. of securities held after change	50,191 comprising:
	1,786Nicholas Frank Greiner11,422Gabane Pty Limited as Trusteefor Hugo Frank Capital Account36,983Gabane Pty LimitedSuperannuation Fund
Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestmentplan, participation in buy-back	Issue of securities under the Distribution/Dividend Reinvestment Plan (DRP)

Part 2 – Change of director's interests in contracts

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.

Detail of contract
Nature of interest
Name of registered holder(if issued securities)
Date of change
No. and class of securities to
which interest related prior to
changeNote: Details are only required for a contract in relationto which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation
Interest after change

+ See chapter 19 for defined terms.