ADMISSION OF LEND LEASE TRUST TO THE OFFICIAL LIST OF ASX LIMITED

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ASX Circular                            ADMISSION OF LEND LEASE TRUST TO THE OFFICIAL
                                        LIST OF ASX LIMITED AND COMMENCEMENT OF
Date: 12 November 2009                  OFFICIAL QUOTATION OF STAPLED SECURITIES IN
Key topics
1. Lend Lease Trust
                                        LEND LEASE GROUP
2. ASX Code: LLC                        It is expected that Lend Lease Trust (the “Trust”) will be admitted to the official list of ASX Limited
3. Official quotation expected to       (“ASX”) today, 12 November 2009 and for its fully paid ordinary units (“Units”) to be stapled to the
   commence on a deferred               already quoted fully paid ordinary shares (“Shares”) in Lend Lease Corporation Limited (the
   settlement basis as a part
   Group 3 at 10:04:30 a.m. (+/-
                                        “Company”) (the “Stapling Proposal”).
   15 seconds) AEDT on Friday,
   13 November 2009.                    The Stapling Proposal will be achieved by the Company making a distribution in specie (in the form of
                                        a dividend) of all of the Units it holds to its Shareholders. Upon the in specie distribution being made,
                                        the Shares and the Units will become stapled to one another, on a one-Unit-for-one-Share basis,
                                        forming a single class of stapled securities (the “Stapled Securities”). The stapled entity will be called
Reading List                            Lend Lease Group (the “Group”).
Banks
Client Advisers                         Official quotation of the Group’s Stapled Securities is expected to commence on a deferred settlement
Compliance Managers                     basis as part of Group 3 at 10:04:30 am (+/- 15 seconds) AEDT on Friday, 13 November 2009.
Corporate Advisory
DTR Operators                              Quoted Securities:                    460,768,608 Stapled Securities
Issuers
Institutions                               ASX Code:                              During the deferred settlement trading period: LLCDA
ASTC Participants
Operations Managers (back office)                                                 It is expected that the Group’s Stapled Securities’ ASX code will
                                                                                  revert to LLC on 27 November 2009, with the commencement of
Share Registries
                                                                                  normal (T+3) trading.
ACH Participants
Market Participants                        Time:                                  10:04:30 AM AEDT

                                           Date:                                  13 November 2009
Authorised by
                                           ITS Abbreviation:                      The Lend Lease Group will trade with the ITS abbreviation of LEND
Andrew Black                                                                      LEASE

Contact                                    ISIN:                                 During the deferred settlement trading period: AU0000LLCDA5

Joel Farina                                                                       At the commencement of normal (T+3) trading the ISIN will return to:
                                                                                  AU000000LLC3

                                           Home Branch:                           Sydney

                                           Industry Classification:               Real Estate
ASX Limited
ABN 98 008 624 691
                                           Company Secretary:                     Mr William Hara
Exchange Centre
20 Bridge Street
Sydney NSW 2000                            Share Registry:                        Computershare Investor Services Pty Limited
PO Box H224                                                                       Level 3
Australia Square NSW 1215                                                         60 Carrington Street
                                                                                  Sydney NSW 2000
Internet: http://www.asx.com.au
                                                                                  Phone: +61 2 8234 5000
                                                                                  Fax: +61 2 8235 8150
No responsibility is accepted for any
inaccuracies contained in the matter
published.


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Registered Office:                     Level 4
                                       30 The Bond
                                       30 Hickson Road
                                       Millers Point, NSW 2000

                                       Phone: +61 2 9237 5136
                                       Fax: +61 2 9383 8154
                                       Web address: www.lendlease.com.au

Balance Date:                          30 June

CHESS:                                 Participating. The Trust will also operate an issuer sponsored
                                       subregister.

Place of Registration:                 The Trust was registered in NSW

Dividend Policy:                       N/A

Activities:                            The Group is an international retail and residential property
                                       development, construction and management company.

Unquoted Securities:                   N/A


The indicative timetable in relation to the Stapling Proposal is as follows:

Indicative Date                       Event
10:00 am Thursday, 12 November        Company AGM held to approve Stapling Proposal
2009
Thursday, 12 November 2009            Last day for trading Company Shares separately on ASX
Friday, 13 November 2009              Commencement of trading in Stapled Securities on a deferred
                                      settlement basis (ASX Code: LLCDA)
Thursday, 19 November 2009            Stapling Proposal Record Date
Friday, 20 November 2009              Implementation Date – distribution in specie of Units (in the form of
                                      a dividend) to shareholders in the Company

                                      Units stapled to Shares
Thursday, 26 November 2009            Despatch Date
                                      Last day of deferred settlement trading in Stapled Securities
Friday, 27 November 2009              Normal (T+3) trading in Stapled Securities (ASX Code: LLC)


For further information please see the Company’s Notice of Meeting and Explanatory Memorandum dated 12 October 2009.




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