STOCKLAND — M&A Activity 2010

Oct 25, 2010

133 Castlereagh Street T 02 9035 2000 Sydney NSW 2000 F 02 8988 2000

www.stockland.com.au

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

26 October 2010

ASX/Media Release

AEVUM DIRECTORS ACCEPT STOCKLAND OFFER

All Aevum Directors have now accepted Stockland’s Offer for their personal Aevum shareholdings.

This follows the Aevum Board’s unanimous recommendation that all Aevum shareholders accept Stockland’s Offer.

Stockland has maintained its strong momentum and held an 82.83% stake in Aevum as at close of trade on 25 October 2010.

Stockland Managing Director Matthew Quinn said: “Remaining Aevum shareholders should feel confident in accepting our Offer as their directors have now accepted.

“The Offer is due to close this week and we have not yet committed to any further extension.

“Stockland and Aevum are a good cultural fit, with a similar focus on resident wellbeing and quality developments. We look forward to welcoming Aevum residents and employees to Stockland.

“Aevum residents can have confidence in our track record of delivering high resident satisfaction and our commitment to being a leader in the Retirement Living sector,” Mr Quinn said.

Stockland’s Offer is currently scheduled to close at 7.00pm (Sydney time) on Friday 29 October 2010, unless further extended.

For media enquiries contact For investor enquiries contact Karyn Munsie Katie Lennon Karyn Munsie Linda Assatoury EGM – Corporate Affairs Media Relations Manager EGM – Corporate Affairs Senior Manager Investor Relations Stockland Stockland Stockland Stockland T +61 (0)2 9035 2180 T +61 (0)2 9035 2552 T +61 (0)2 9035 2180 T +61 (0)2 9035 2553 M +61 (0)421 050 430 M +61 (0)406 316 907 M +61 (0)421 050 430 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.