Rights Issue

23 September 1999

Macquarie Infrastructure Investment Management Limited (MIIML), the Manager of Macquarie Infrastructure Group (MIG), today announced that its one for two renounceable rights issue had closed on 8 October 1999. The rights issue will raise $428 million, increasing the market capitalisation of MIG to around $1.25 billion. MIG will now be one of the top 80 stocks in Australia.

The issue, which was fully underwritten closed with approximately 23% of the new stapled securities subscribed for by existing security holders. The Manager has been informed that the issue was sub-underwritten by a large panel of local and overseas institutions. The Manager noted that a shortfall was not unexpected as the securities traded around the exercise price for most of the rights issue period.

For further information, please contact:

Dennis Eagar
Division Director
Macquarie Infrastructure Investment Management Limited
Tel: (02) 8232 6771
Mobile: 0414 345 176
Email: dennis.eagar@macquarie.com