$3.8 billion Mitcham-Frankston Freeway awarded to consortium including Thiess and John Holland

Issue Date:  14 October 2004
Issued By:  Leighton Holdings Limited

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

Re: $3.8 billion Mitcham-Frankston Freeway awarded to consortium including Thiess and John Holland

Dear Sir,

This is to advise that the Victorian Government has today announced the ConnectEast Pty Ltd consortium as the preferred tenderer to design, construct, finance, operate and maintain the Mitcham-Frankston Freeway. Thiess, a wholly owned subsidiary of Leighton Holdings Limited and John Holland, a 70% owned subsidiary of Leighton Holdings Limited, are members of the ConnectEast Pty Ltd consortium and will undertake the $2.5 billion design and construction of the freeway in a 50:50 joint venture.

Further details will be advised as they become available.

Yours sincerely,


A.J. MOIR
Company Secretary