STOCKLAND — M&A Activity 2010

Sep 29, 2010

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30 September 2010

Company Announcements Office Australian Securities Exchange Level 4, 20 Bridge Street Sydney NSW 2000

Stockland Offer Update

Stockland announced today that it had acquired a 54.56% stake in Aevum at close of trade on 29 September 2010. As a result, Stockland's Offer Period has automatically been extended by 14 days to 13 October 2010.

Accordingly, Shareholders now have until 7:00pm on 13 October 2010 to accept Stockland's offer of $1.77 per Aevum Share.

Consistent with its earlier statements, the Board is considering whether to revise its recommendation to Shareholders and Aevum will update Shareholders and the market in due course.

About Aevum Limited

Aevum Limited is a long established owner, operator and developer of retirement villages and aged care facilities. Today it manages 30 facilities across NSW, Victoria, Queensland, South Australia and Western Australia providing retirement accommodation and services to over 3,100 units, for Australian seniors. Aevum also has four aged care facilities with 367 beds. Aevum employs over 600 dedicated and committed staff.

Contact:

Jim Kelly or Andrew Stokes Ron Malek, Co-Chief Executive Jamie Garis, Managing Director FD Third Person Greenhill Caliburn Greenhill Caliburn +61 2 8298 6100 +61 2 9229 1409 +61 2 9229 1448

Aevum Limited ACN 087 648 691 • Level 6, 23-25 O’Connell Street, Sydney NSW 2000 GPO Box 5282, Sydney NSW 2001 • Telephone (02) 8223 0900 • Facsimile 02 8223 0999 • www.aevum.com.au