STOCKLAND — Director's Dealing 2015

Nov 1, 2015

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 30/09/01 Amended 01/01/11

Name of entity	STOCKLAND(Joint listing of Stockland Corporation Limited and Stockland Trust)
ABN	Stockland Corporation Limited -43 000 181 733Stockland 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	Mark Andrew Steinert
Date of last notice	15September 2015

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 relevantinterest.	Name of Holder: Madison Way	Superannuation FundMadison WayFamily Trust
	Nature ofInterest:	Director andBeneficiary
Date of change	28October2015

+ See chapter 19 for defined terms.

No. of securities held prior to change	Issued Securities:
	705,025comprising:
	Mr Mark Steinert:513,454
	Madison WaySuperannuation Fund:74,071
	Madison WayFamily Trust:117,500
	Performance Rights:Mark Steinert:2,254,000
Class	Ordinary Stapled Securities
Number acquired	270,432 Ordinary Stapled Securities750,000Performance Rights
Number disposed528,000 Performance Rights(Lapsed)
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Not Applicable
No. of securities held after change	Issued Securities:975,457Ordinary Stapled Securitiescomprising:
	Mr Mark Steinert:783,886
	Madison WaySuperannuation Fund:74,071
	Madison WayFamily Trust:117,500
	Performance Rights:Mark Steinert:2,476,000

+ See chapter 19 for defined terms.

Nature of changeExample: on-market trade, off-market trade, exercise of options,	Issued Securities:270,432OrdinaryStapledSecurities
issue of securities under dividend reinvestment plan, participation inbuy-back	purchased on market as part of Mr
	Steinert's 2015financial year deferredShortTermIncentivearrangements
	(135,216 securities vest in June 2016and 135,216 vest in June 2017).
	Performance Rights:
	(a)AcquisitionofPerformanceRights
	750,000 Performance Rights wereacquired by Mr Steinert as part ofhis2016financialyearremunerationinaccordancewiththe Stockland Performance RightsPlanRulesandapprovedbyStockland security holders at the2015Annual General Meeting heldon 27October 2015.
	(b)Lapsed Performance Rights
	528,000PerformanceRights,originallyacquired by Mr Steinert aspartofhis2013financialyearremunerationinaccordancewiththe Stockland Performance RightsPlanRulesandapprovedbyStockland security holders at the2013AnnualGeneralMeeting,lapsedas a result of the requiredperformance hurdles not being met.

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
Name of registered holder(if issued securities)	Not Applicable

+ See chapter 19 for defined terms.

Date of change	Not Applicable
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	Not Applicable
Interest acquired	Not Applicable
Interest disposed	Not Applicable
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	Not Applicable
Interest after change	Not Applicable

Part 3 – +Closed period

Were the interests in the securities or contracts detailedabove traded during a +closed periodwhere prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	Not Applicable
If prior written clearance was provided, on what date was thisprovided?	Not Applicable

+ See chapter 19 for defined terms.