STOCKLAND — Director's Dealing 2007

Sep 2, 2007

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

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	Robert Bruce Corlett
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	Name of holder:	Uvira Superannuation
(including registered holder)		Pty Limited as trustee
Note: Provide details of the circumstances giving rise tothe relevant interest.		for Uvira HoldingsEmployees
		Superannuation Fund
	Nature of interest:	beneficiary of Uvira
		Holdings Employees
		Superannuation Fund
Date of change	31 August 2007
No. of securities held prior to change	210,673 comprising:
	155,755Robert	Bruce Corlett
	54,918Uvira Superannuation Pty
	Limited
Class	Ordinary Stapled Securities

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Number acquired	1,565
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	$7.98 per security
No. of securities held after change	212,238 comprising:155,755Robert Bruce Corlett56,483Uvira Superannuation PtyLimited
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 theDistribution/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 change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

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11/3/2002