HOCHTIEF Shareholding

Issue Date:  02 February 2001
Issued By:  Leighton Holdings Limited

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

Re: HOCHTIEF SHAREHOLDING

Dear Sir,

This is to advise that notification has been received from HOCHTIEF that they have increased their shareholding in Leighton Holdings from 49.8% to 50.3% by entering into an option agreement with the Commonwealth Bank of Australia.

As previously indicated, HOCHTIEF has reaffirmed its commitment to the company and has agreed to maintain Leighton as an independent company listed on the Australian Stock Exchange. HOCHTIEF will maintain Leighton Holdings’ current management structure and strategy, and where possible promote its Australian management culture.

Yours faithfully,


A.J. MOIR
Company Secretary