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

Re: Leighton and PA Property Trust form Alliance

Dear Sir,

Please find attached a copy of a media release to be issued today by Leighton Holdings Limited.

Yours faithfully,


A.J. MOIR
Company Secretary

Leighton and PA Property Trust form Alliance
Issue Date: 10 August 2001
Issued by: Leighton Holdings Limited

Leighton Holdings, the James Fielding Group and PA Property Trust today announced the formation of an alliance to pursue property investment opportunities with Leighton taking a strategic stake in PA Property Trust.

“We are delighted to be involved with PA Property Trust, Greg Paramor and Rod Leaver who have a great reputation in Australia’s property industry”, said Leighton Holdings CEO Mr Wal King.

“This alliance combines the specialist property skills of the James Fielding Group and through its wholly owned subsidiary PA Property Management Limited, the Responsible Entity of PA Property Trust, with the financial strength of the Leighton Group and our project development and contracting capability”, said Mr King.

“PA Property Trust has issued Leighton Holdings 3.795 million units at $2.20 per unit in a 15% placement, raising $8.349 million.

PA Property Trust has completed the purchase of Phases 1 and 2 of Leighton Properties’ Mulgrave development in Melbourne for $14.65 million.

“Leighton Properties is a focused developer of high quality properties across the east coast of Australia.

“The alliance provides PA Property Trust and Leighton with the opportunity to jointly pursue new property ventures where appropriate”, said Mr King.

ENDS.

Issued by:
Leighton Holdings Limited
ACN 004 482 982

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