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STOCKLAND Major Shareholding Notification 2004

Jul 18, 2004

65781_rns_2004-07-18_c9c2a8a4-8af0-480e-a859-6f824043cb67.pdf

Major Shareholding Notification

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Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

Stockland To. ACN/ARSN 092 897 348

1. Details of substantial holder

Name. Barclays Group ("Barclays")
ABN 33 001 804 566 (Barclays Global Investors Australia Limited)

The holder became a substantial holder on 13 July 2004

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder an associate had a relevant interest on the date the substantial holder became a substantial holder are as follows:

Class of securities Number of securities Person's votes Voting power
Ordinarv 65,247,183 65,247,183 5.16%

3. Details of relevant interests

The nature of the relevant interest the substantial holder had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest Nature of relevant interest - Class and number of
securities
Barclays Fund Manager - see Annexure A l. 65.247.183 ordinarv

4. Details of present registered holders

The persons registered as holder of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest Registered holder of securities Class and number of
securities
Barclays JP Morgan & other custodians $\pm$ 65,247,183 ordinary
-see Annexure A

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant Date of acauisition I Consideration - Class and number of
, interest . Cash/Non-cash . securities
Barclays Past 4 months Avg price \$5.43 - 65,247,183 ordinary

6. Addresses

The addresses of persons named in this form are as follows:

1/111 Harrington Street, Sydney NSW 2000

Signature

Andrew Kuo Company Secretary
Barclays Global Investors Australia Date

This is "Annexure A" of 1 page referred to in Form 603 Notice of initial substantial holder

Relevant interest in Stockland ("SGP") held by the Barclays Group ("Barclays").

ASX CODE STOCK NAME HOLDING % COMPANY
SGP Stockland 140,407 0.01 Barclays Global Investors Japan Ltd
SGP Stockland 483,273 0.04 Barclays Life Assurance Co Ltd
SGP Stockland 1,251,967 0.10 Barclays Global Investors Japan Trust &
Banking
SGP Stockland 2,814,434 0.22 Barclays Global Fund Advisors
SGP Stockland 7,645,840 0.61 Barclays Global Investors Ltd
SGP Stockland 13,568,523 1.07 Barclays Global Investors, N.A.
SGP Stockland 39,342,739 3.11 Barclays Global Investors Australia Ltd
65,247,183 5.16

The list of Barclays entities and their respective holdings are as follows:

The JP Moraan Chase Bank Inc. and various ofher custodians (Custodians) hold shares in SGP as custodian and for which Barclays is either:

  • the responsible entity or trustee of pooled investment products such as registered $\bullet$ managed investment schemes (Funds); or
  • the investment manager of Portfolios held for a number of institutional investors. The institutional investors are generally superannuation funds regulated under the Superannuation Industry Supervision Act 1993.

The holding of shares in SGP was acquired as part of the wide portfolio of Australian shares and units acquired for the Funds and the Portfolios.

Barclays and the Custodians may hold relevant interests due to the capacity of these entities to dispose of the shares in SGP.

Each investor in a Fund owns an undivided interest in the Fund's assets, no client directly owns any asset of the Fund. The unitholding of each Fund varies from time to time as clients enter and withdraw from the Funds. The various institutional investors with portfolios delegate the management of the portfolios to Barclays.

Andrew Kuo Company Secretary Barclays Global Investors Australia

Date