Exhibit 99.2
Appendix 3Y
Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

	Name of entity James Hardie Industries SE
	ARBN 097 829 895 Incorporated in Ireland

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

	Name of Director			Mr Louis GRIES
	Date of last notice			20 September 2010

Part 1 — Change of director’s relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

	Direct or indirect interest			Direct
	Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.			•  Ordinary shares/CUFS; and •  Options under the Managing Board Transitional Stock Option Plan.
	Date of change			•  Sale of shares — 9 December 2010; and •  Cancellation of options — 6 December 2010.
	No. of securities held prior to change			•  555,756 ordinary shares/CUFS registered in the name of the Director; and •  3,328,000 options over unissued ordinary shares/CUFS comprising: ¡  650,000 options under the 2001 Equity Incentive Plan; ¡  1,000,000 options under the Managing Board Transitional Stock Option Plan; ¡  860,000 options (ROCE) under the 2006 JHISE Long Term Incentive Plan; and ¡  818,000 options (TSR) under the 2006 JHISE Long Term Incentive Plan.
	Class			Not applicable
	Number acquired			Nil
	Number disposed			•  148,000 ordinary shares/CUFS were sold; and •  1,000,000 options under the Managing Board Transitional Stock Option Plan were cancelled in accordance with their terms.
	Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation			A$931,895.90 for sale of ordinary shares/CUFS.

+ See chapter 19 for defined terms.
11/3/2002 Appendix 3Y		Page 1

Appendix 3Y
Change of Director’s Interest Notice

	No. of securities held after change			•  407,756 ordinary shares/CUFS registered in the name of the Director; and •  2,328,000 options over unissued ordinary shares/CUFS comprising: ¡  650,000 options under the 2001 Equity Incentive Plan; ¡  860,000 options (ROCE) under the 2006 JHISE Long Term Incentive Plan; and ¡  818,000 options (TSR) under the 2006 JHISE Long Term Incentive Plan.
	Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back			•  On market sale of ordinary shares/CUFS in compliance with the James Hardie stock accumulation policy and the announcement to the ASX on 10 December 2010; and •  Cancellation of options under the Managing Board Transitional Stock Option Plan.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

	Detail of contract			Not applicable
	Nature of interest			Restricted Stock Units (RSUs) are contractual entitlements to be issued ordinary shares/CUFS upon satisfaction of certain conditions.
	Name of registered holder (if issued securities)			Louis Gries
	Date of change			Not applicable
	No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed			Not applicable
	Interest acquired			Not applicable
	Interest disposed			Not applicable
	Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation			Not applicable
	Interest after change			Current interests in contracts are: •  1,452,609 Relative TSR RSUs; and •  847,713 Executive Incentive Program RSUs.

+ See chapter 19 for defined terms.
Appendix 3Y Page 2		11/3/2002