Appendix 3Y Change of Director's Interest Notice Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity AUSTRALAND PROPERTY GROUP

ABN Comprising Australand Holdings Limited (ABN 12 008 443 696), Australand Property Limited (ABN 90 105 462 137) as Responsible Entity for Australand Property Trust (ARSN 106 680 424) and Australand Investments Limited (ABN 12 086 673 092) as Responsible Entity for Australand Property Trust No.4 (ARSN 108 254 413) and Australand Property Trust No.5 (ARSN 108 254 771)

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director

Nancy Jane Milne

Date of last notice

1 October 2010

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest

Indirect

Nature of indirect interest

(including registered holder)

Note: Provide details of the circumstances giving rise to the relevant interest.

Date of change

7 August 2014

No. of securities held prior to change

0 directly

12,014indirectly

12,014

Class

Stapled securities

Number acquired

Nil

Number disposed

12,014 (indirectly)

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

$4.48 cash per security

+ See chapter 19 for defined terms.

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Appendix 3Y Change of Director's Interest Notice

No. of securities held after change

Nil

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Acceptance of off-market cash takeover bid

made by Frasers Amethyst Pte. Ltd., a wholly owned subsidiary of Frasers Centrepoint

Limited .

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract

Nature of interest

Name of registered holder

(if issued securities)

Date of change

No. and class of securities to which interest related prior to change

Note: Details are only required for a contract in

relation to which the interest has changed

Interest acquired

Interest disposed

Value/Consideration

Note: If consideration is non-cash, provide details and an estimated valuation

Interest after change

Part 3 - +Closed period

Were the interests in the securities or contracts detailed

above traded during a +closed period where prior written clearance was required?

Not applicable

If so, was prior written clearance provided to allow the trade to proceed during this period?

Not applicable

If prior written clearance was provided, on what date was this provided?

Not applicable

+ See chapter 19 for defined terms.

Appendix 3Y Page 2 01/01/2011

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