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2008 Online Annual Report

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Sunshine PlazaLend Lease has a long history of property funds management experience, having formed the first unlisted property trust in Australia in 1959 and one of Australia's longest running listed property groups, General Property Trust (GPT) in 1971. This capability has been extended to other regions, and Lend Lease continues to support its Investment Management business through its internal development pipeline and co-investment in funds.

Lend Lease Investment Management manage property funds globally on behalf of institutional clients. Lend Lease also invest directly in high quality retail properties and co-investments. As at 30 June 2008, Lend Lease has A$9.3 billion in funds under management.

Asia Pacific

In Asia Pacific, Lend Lease Investment Management manage a number of investment funds across the risk/return spectrum: Australian Prime Property Funds, Lend Lease Real Estate Partners Fund Series, Lend Lease Core Plus Fund, Lend Lease Communities Fund 1, Asia Pacific Investment Company 2 and Lend Lease Asian Retail Investment Fund. These Funds own a number of high quality properties mainly focused on the retail, commercial and industrial sectors.

UK and Europe

In the UK, Lend Lease Investment Management manage two investment funds focused on high quality retail properties: Lend Lease Retail Partnership and Lend Lease Overgate Partnership.

Lend Lease also holds a number of direct investments in a variety of high performing properties and partnerships.

Americas

In the US, Lend Lease holds a 50% share of the partnership that owns the King of Prussia mall in Pennsylvania, one of the largest malls in the United States.

Pictured: Sunshine Plaza, Queensland, Australia