Thiess sells Portman stake

Issue Date:  11 November 2003
Issued By:  Leighton Holdings Limited

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

Re: Thiess sells Portman stake

Dear Sir,

Please find attached a copy of a media release to be issued today by Thiess Pty Ltd, a wholly owned subsidiary of Leighton Holdings Limited.

Yours sincerely,


A.J. MOIR
Company Secretary

Thiess sells Portman stake

Issue Date: 11 November 2003
Issued by: Thiess Pty Ltd

Thiess Pty Ltd has sold its 23 million shares in Portman Ltd, an investment held by Thiess since 1999.  The off-market transaction, conducted on behalf of Thiess by Deutsche Bank, will realise cash of $33m and a pre-tax profit of $16.6m.

Thiess will utilise the funds raised elsewhere in its business.

Thiess, a subsidiary of Leighton Holdings Ltd, has recently won mining contracts in Indonesia valued at $1.7b over five years and is a sponsor of the consortium named as the preferred tenderer for the construction of the Lane Cove Tunnel in Sydney.

Ends.

Issued by Thiess Corporate Affairs: 07 3002 9622