STOCKLAND — Director's Dealing 2009

Jun 22, 2009

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	Nicholas Frank Greiner
Date of last notice	4 March 2009

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 to the relevant interest.	Name of holder: Gabane Pty Limited as Trustee for Hugo Frank Capital Account Nature of interest:Director Name of holder: Gabane Pty Limited Superannuation Fund Nature of interest:Director
Date of change	18 June 2009 (Securities Acquired) 16 June 2009 and 19 June 2009 (Securities Sold)

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	87,472 comprising: 35,165 Nicholas Frank Greiner 12,342 Gabane Pty Limited as Trustee for Hugo Frank Capital Account 39,965 Gabane Pty Limited Superannuation Fund
Class	Ordinary Stapled Securities
Number acquired	34,988 Acquired under the Non- Renounceable Entitlement Offer 9,661 Acquired under the Non- Executive Director Security Acquisition Plan
Number disposed	16 June 2009 4,936 securities held by Gabane Pty Limited Trustee for Hugo Frank Capital Account 19 June 2009 11,783 securities held by Gabane Pty Limited Trustee for Hugo Frank Capital Account 19 June 2009 559 securities held by Gabane Pty Limited Trustee for Hugo Frank Capital Account
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$2.70 per security for 34,988 securities acquired under the Non-Renounceable Entitlement Offer on 18 June 2009 $3.00 per security for 9,661 securities acquired under the Non- Executive Director Security Acquisition Plan on 18 June 2009 $3.23 per security for 4,936 securities sold on 16 June 2009 $2.98 per security for 11,783 securities sold on 19 June 2009 $3.01 per security for 559 securities sold on 19 June 2009

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	114,843 comprising: 58,892 Nicholas Frank Greiner 55,951 Gabane Pty Limited Superannuation Fund
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Acquisition of securities under the Non- Renounceable Entitlement Offer, on market purchase of securities under the Non-Executive Director Security Acquisition Plan and on market sales of securities

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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