Full Year Results for Period Ended 30 June 2003

21 August 2003

Macquarie Communications Infrastructure Group (MCG) today announced its inaugural full year financial results for the year ended 30 June 2003.

Mr Scott Davies, Chief Executive Officer of MCG said, “Over the year Broadcast Australia (BA), the cornerstone asset of  MCG, has performed in line with our expectations. BA has achieved revenue growth of 11% and an increase in earnings before interest, tax, depreciation and amortisation (EBITDA) of 24%, which underpins MCG’s EBITDA result of $42.9 million.

“In addition, MCG has paid a distribution of 15.5 cents to investors, for the period to 30 June 2003, which is slightly above the prospectus forecast.

“Investors who participated in the MCG IPO at $2 have enjoyed an increase in value of $1.16 (including distributions) as at 30 June, 2003.   This compares with a $0.04 cent gain for an investor that invested in MCG’s agreed benchmark index the S&P ASX 200 Industrial Accumulation Index,” Mr Davies said.

Broadcast Australia also reported that 97% of its forecast revenue is contracted from now to June 2005.   This is compared with 89% contracted revenue that was flagged in the prospectus for the three years to June 2005. The increase reflects BA’s success in securing a number of new contracts for digital services from the SBS, renewal of a major analogue service from the SBS and the successful roll-out of services during 2003.

Over the year ahead BA will remain focussed on delivering high quality broadcast services to its customers and 98% of the Australian population.

Overall, it has been a positive year for investors in MCG.  MCG was noted as being the leader of the 10 largest IPO’s in FY2003 in terms of security price appreciation, according to research released by KPMG in June 2003. We will continue to work closely with BA to enhance value for investors,” Mr Davies said.

Performance in Brief

*The full financial report and Appendix 4E are attached.

• Download Full Year Results to 30 June 2003 Investor Presentation (pdf 869 KB).
• Dowload Full Year Financial Report (pdf 292 KB).
• Download Appendix 4E (pdf 147 KB).
• View the Full Year Results Announcement webcast held on 21st August 2003.

For more information, please contact:

Investor Enquiries
Geetika Marwaha
Investor Relations Manager
Tel: (61 2) 8232 5301
Email: geetika.marwaha@macquarie.com

Media Enquiries
Jane Rotsey
Public Affairs Manager
Mobile: (61) 401 997 160
Email: jane.rotsey@macquarie.com