AMC to pursue EPCM contracting plan for Stanwell Magnesium

Issue Date:  17 April 2003
Issued By:  Leighton Holdings Limited

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

Re: AMC to pursue EPCM contracting plan for Stanwell Magnesium Project

Dear Sir,

Leighton Contractors Pty Ltd, a wholly owned subsidiary of Leighton Holdings Limited, confirms that they are now working with Australian Magnesium Corporation (AMC) to renegotiate the EPC contract to include Fluor Corp and to convert to an engineering, procurement, construction management (EPCM) contract.

Yours sincerely,


A.J. MOIR
Company Secretary