STOCKLAND — M&A Activity 2010

Sep 23, 2010

133 Castlereagh Street Sydney NSW 2000

T 02 9035 2000 F 02 8988 2000

www.stockland.com.au

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24 September 2010 ASX Release

STOCKLAND DESPATCHES FLYER TO AEVUM SHAREHOLDERS

Stockland today despatched a flyer to all Aevum shareholders.

A copy of the flyer is attached.

For media enquiries contact	For investor enquiries contact
Katie Lennon Media Relations Manager Stockland	Linda Assatoury Senior Manager Investor Relations Stockland
T +61 (0)2 9035 2552	T+61 (0)2 9035 2553
M+61 (0)406 316 907	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.

ACCEPT

Total value of $1.80 per Aevum Share comprising $1.77 cash for each share plus the value of Aevum’s 3 cent Final Dividend, if entitled.

Aevum Board recommendation

The Aevum Board recommends shareholders with a short to medium term investment horizon ACCEPT Stockland’s increased Offer, with no superior proposal likely.

This Offer is unconditional and will not be increased. The Offer closes at 7pm on 30 September 2010, unless extended.

ACCEPT now

If not delivered, please return to POSTAGE Locked Bag A14 PAID Sydney South NSW 1235 AUSTRALIA

Complete the Acceptance Form enclosed with your Bidder’s Statement and return to Link in the Reply paid envelope.

If you have a CHESS holding follow the instructions outlined in your Bidder’s Statement.

FOR MORE INFORMATION

Call 1800 646 920 or visit www.stockland.com.au/aevum

Note to shareholders: The Bidder’s Statement dated 20 August 2010 (as supplemented by the Supplementary Bidder’s Statements) contains important information. You should read the Bidder’s Statements in addition to the Second Supplementary Target’s Statement before you decide whether or not to accept Stockland’s Offer. If you are in doubt as to what to do, you should consult your legal, financial or other professional adviser.