Sell down of KPC Loan

Issue Date:  12 January 2004
Issued By:  Leighton Holdings Limited

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

Re: Sell down of KPC Loan

Dear Sir,

In October 2003, Thiess Pty Limited, a wholly owned subsidiary of Leighton Holdings Limited loaned US$40m to PT Bumi Resources Tbk as part of a US$405m facility to help finance the acquisition of the Kaltim Prima Coal (KPC) mine and was awarded $1.7bn worth of new contract mining work in Indonesia.

We advise that US$30m of this loan has recently been syndicated to an international financier, as part of the Group’s ongoing management of its financial exposure. The US$30m realised will be reinvested to further develop and grow the business.    

Yours sincerely


A.J. MOIR
Company Secretary