MIG Stapled Security Purchase Plan

11 May 2001

Macquarie Infrastructure Investment Management Limited (MIIML), the Responsible Entity of Macquarie Infrastructure Trust I and Macquarie Infrastructure Trust II, and Macquarie European Infrastructure plc (MEI plc) today announced the completion of its stapled security purchase plan (SPP).

The SPP, which was offered to all existing MIG security holders, was undertaken at a purchase price of $2.60*, which represented a 5% discount on the closing price of MIG on 3rd April 2001. This price was the same price that institutions were offered in a $150 million placement that was concluded on 4th April 2001.

The plan, which had a maximum limit of $3,000 per security holder, raised a total amount of $17,128,228. 6,638,848 new ordinary MIG stapled securities were issued.

The funds raised under the SPP will be used to finance MIG's operational commitments.

An Appendix 3B in relation to the SPP is attached. Stapled securities will be allotted today and holding statements mailed to investors on Monday 14th May 2001. Quotation is expected by 18 May 2001.

* The $2.60 includes 2 cents UK stamp duty payable by the investor on the issue of new MEI plc shares under UK Revenue Law and withheld by MIG to be remitted to the UK Inland Revenue on investor's behalf.

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