TELSTRA GROUP LIMITED — Capital/Financing Update 2007

Sep 2, 2007

Ashley Moir Company Secretary Leighton Holdings Limited ABN 57 004 482 982

Level 5, 472 Pacific Highway St Leonards NSW 2065, Australia PO Box 1002 Crows Nest NSW 1585, Australia www.leighton.com.au T (02) 9925 6666 F (02) 9925 6005

3 September 2007

Company Announcements Office Australian Stock Exchange Limited Level 4 20 Bridge Street SYDNEY NSW 2000

Dear Sir,

Re: Leighton Contractors awarded new work for Telstra

Please find attached a copy of a media release to be issued today by Leighton Contractors Pty Limited's wholly owned subsidiary, Visionstream Pty Limited. Leighton Contractors Pty Limited is a wholly owned subsidiary of Leighton Holdings Limited.

Yours faithfully LEIGHTON HOLDINGS LIMITED

ASHLEY MOIR Company Secretary

Media Release

Melbourne, 3 September 2007

Visionstream awarded \$300m Telstra Services Contract

Specialist Communication Infrastructure Services company, Visionstream today secured a new two-year \$300 million contract to deliver access and associated services on behalf of Telstra.

Under the contract, Visionstream will construct and maintain both new and existing copper and Optic Fibre Access Networks.

In addition, Visionstream will provide onsite connection for Telstra customers including standard telephone, broadband and cable services.

Bob de Boer, Managing Director, Visionstream welcomed the opportunity to build on Visionstream's strong history of successful service delivery in partnership with Telstra.

"The award of the Access and Associated Services contract to Visionstream provides a doubling of the work volume that we currently provide to Telstra for these services."

"Through this newly awarded contract, and others such as our Wideband contract, Visionstream is proud to be a major service partner to Telstra delivering services to Australians on a truly national basis."

Visionstream, part of the Leighton Contractors Group, is a specialist Communication Infrastructure Services company that provides Design, Construction Commissioning and ongoing Network Maintenance Services to the Telecommunications Industry.

For further information please contact: Bob de Boer Managing Director Visionstream Telephone: 03 9258 5700 or 03 8327 2303

Visionstream Australia Pty Limited ABN 85 093 384 680 National Office: 236 East Boundary Road, 2 North Drive, Virginia Park, East Bentleigh VIC 3165 Locked Bag, 3 Bentleigh East VIC 3165 T 03 9258 5700 F 03 970 9080 W www.visionstream.com.au H1632