Lend Lease Directors OK GPT Merger

Independent directors of Lend Lease Corp., who had previously raised concerns about the company's proposed merger with Australia's General Property Trust, have reviewed Lend Lease's final proposal in response to their concerns and have recommended the deal to shareholders.In addition, General Property Trust's board has said it intends to recommend the proposal unless a superior one emerges. Lend Lease's final proposal had slightly increased the final per-unit consideration allocated to General Property Trust in the deal, according to Lend Lease. Lend Lease can be found online at http://www.lendlease.com, and General Property Trust can be found at http://www.gpt.com.au.