STOCKLAND — M&A Activity 2010

Nov 14, 2010

133 Castlereagh Street Sydney NSW 2000

T 02 9035 2000 F 02 8988 2000

www.stockland.com.au

15 November 2010

==> picture [72 x 71] intentionally omitted <==

ASX/Media Release

STOCKLAND COMMENCES COMPULSORY ACQUISITION OF REMAINING AEVUM SHARES

Stockland has commenced the process to compulsorily acquire all remaining Aevum shares, having reached a 92.45% stake in Aevum as at close of trade on 12 November 2010.

Stockland has also extended its Offer until 26 November 2010 to provide an opportunity for remaining shareholders to accept and receive payment within three business days.

Shareholders who wait for their shares to be compulsorily acquired may have to wait over six weeks to receive payment due to the legal process involved.

Stockland CEO, Retirement Living David Pitman said: “We’re pleased to be able to offer remaining Aevum shareholders the option to accept the Offer under our three day payment terms or wait for the compulsory acquisition process.

“A merger integration team with representatives of both Stockland and Aevum is already well progressed in the planning to bring our two businesses together.

“Stockland and Aevum are a good cultural fit with a focus on resident wellbeing and quality developments and we look forward to creating one market leading retirement business.”

Stockland’s Offer is scheduled to close at 7.00pm (Sydney time) on Friday 26 November 2010.

For media enquiries contact

For investor enquiries contact

Karyn Munsie Katie Lennon Karyn Munsie EGM – Corporate Affairs Media Relations Manager EGM – Corporate Affairs Stockland Stockland Stockland T +61 (0)2 9035 2180 T +61 (0)2 9035 2552 T +61 (0)2 9035 2180 M +61 (0)421 050 430 M +61 (0)406 316 907 M +61 (0)421 050 430

Linda Assatoury Senior Manager Investor Relations Stockland T +61 (0)2 9035 2553 M +61 (0)402 283 769

Stockland Corporation Ltd ACN 000 181 733 Stockland Trust Management Ltd ACN 001 900 741 AFSL 241190 As Responsible Entity for Stockland Trust ARSN 092 897 348.