Macquarie Infrastructure Group ASX Company Announcement

02 November 1999

As previously advised, Macquarie Infrastructure Investment Management Limited (MIIML) has been negotiating on behalf of MIG to purchase a 57% interest in Statewide Roads Limited, the holder of the concession for the M4 toll road in Sydney’s western suburbs.

Because of the expiry of the original exclusivity period, MIIML has made another offer at the same price and on substantially the same terms and conditions as the original. MIIML has subsequently received a response from five of the six owners of the holding that was the basis of the original offer. Those owners have agreed to continue negotiations exclusively with MIIML up to 31 January 2000. They have also confirmed that they would not seek a higher price during that period. Those five owners represent 47.6% of the equity in Statewide Roads Limited. However, because of the shareholding structure, the relevant equity represents a controlling interest.

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