RWE successfully concludes sale of Hochtief stake

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

Re: RWE successfully concludes sale of Hochtief stake

Dear Sir,

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

Yours sincerely,


A.J. MOIR
Company Secretary

RWE successfully concludes sale of Hochtief stake

Issue Date: 26 February 2004
Issued by: Leighton Holdings Limited

Leighton Holdings Limited was advised today that the German based RWE Group had successfully sold its stake in Hochtief, the Leighton Group’s major shareholder. RWE placed its entire 56.1% directly and indirectly held stake in Hochtief with institutional investors in Europe and the US.

Chief Executive, Mr Wal King AM, said that the sale would not affect day-to-day business with Leighton in any way.

“We have had a close and beneficial relationship with Hochtief as a major shareholder for over 20 years and expect that to continue. The sale has been flagged for some years and this brings further certainty to our relationship with Hochtief,” said Mr King.

“It is business as usual for the Leighton Group and with work in hand at 31 December at a new high of $12.5 billion, the future looks very positive.

“We remain in the midst of a construction upswing, driven by a number of major engineering projects, good levels of building activity and a prominent position in the contract mining market. The Group’s outlook remains very strong supported by a powerful competitive position in the Australian contracting market, record levels of work in hand and a robust balance sheet,” said Mr King.

Issued by:
Leighton Holdings Limited
A.C.N. 004 482 982  A.B.N. 57 004 482 982
www.leighton.com.au

For further information:    
MR JUSTIN GROGAN    
Manager Investor and Media Relations     
Ph:  (02) 9925 6628