Leighton Notes

In 2003, Leighton Holdings Limited (Leighton), raised $200 million through an issue of convertible unsecured subordinated resettable notes (Leighton Notes). The issue of Leighton Notes provides access to additional balance sheet facilities to support continued growth in the Leighton Group's core business. The details of the initial Terms of Issue can be accessed in the Leighton Notes Prospectus below.

In May 2005, Leighton Holdings Limited revised the Terms of Issue for the Leighton Notes. The revisions are technical in nature and are not material or prejudicial to Noteholders. The revisions have been undertaken to clarify and confirm the Directors’ intentions at the time of issue. The Terms of Issue have been revised primarily to establish a mechanism to ensure that a minimum rate of interest is payable on the Notes at each reset date.

A copy of the Amending Deed has been lodged with ASX and a copy of the Terms of Issue, marked up to show the revisions, can be found below .