Statewide Roads Limited Acquisition

31 January 2000

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

The exclusivity period with the vendors expired today without the offer being accepted. Because of circumstances beyond the control of both MIIML and the vendors, it was not possible for the vendors to accept MIIML's offer at this time. However, should the vendors be in a position to accept our offer in the short term both parties have agreed to recommence negotiations, with the intention of affecting the purchase.

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