STOCKLAND — Director's Dealing 2011

Aug 22, 2011

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.Amended 01/01/11

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	Matthew James Quinn
Date of last notice	21 October 2010

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: Super Quinn Pty (including registered holder) Limited Note: Provide details of the circumstances giving rise to the relevant interest. Nature of Interest: Director and beneficiary. Date of change 15 August 2011 No. of securities held prior to change Issued Securities: 1,884,500 comprising Matthew Quinn: 1,101,354 Super Quinn Pty Ltd : 783,146 Performance Rights: Matthew Quinn: 3,012,000 Class Ordinary Stapled Securities

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired 361,500 Ordinary Stapled Securities acquired by Mr Quinn by virtue of 361,500 Performance Rights converting into Stockland Stapled Securities, being 50% of the total number of Performance Rights approved by security holders at the 2008 Stockland Annual General Meeting which vested in accordance with the Plan Rules, as explained in the FY11 Stockland Remuneration Report. Number disposed 361,500 of the Performance Rights acquired by Mr Quinn in accordance with the Stockland Performance Rights Plan Rules being 50% of the total number of Performance Rights, approved by security holders at the 2008 Stockland Annual General Meeting lapsing upon some of the specified performance conditions not being met. Value/Consideration Note: If consideration is non-cash, provide details and Not Applicable estimated valuation No. of securities held after change Issued Securities: 2,246,000 comprising Matthew Quinn: 1,462,854 Super Quinn Pty Ltd : 783,146 Performance Rights: Matthew Quinn: 2,289,000 Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment Issue of Ordinary Stapled Securities. plan, participation in buy-back

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	Not Applicable
Nature of interest	Not Applicable

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Name of registered holder (if issued securities)	Not Applicable
Date of change	Not Applicable
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	Not Applicable
Interest acquired	Not Applicable
Interest disposed	Not Applicable
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	Not Applicable
Interest after change	Not Applicable

Part 3 – +Closed Period

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	Not Applicable
If prior written clearance was provided, on what date was this provided?	Not Applicable

• See chapter 19 for defined terms.

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