AFR Article Statement

23 May 2002

We refer to the Street Talk article on page 24 of today’s Australian Financial Review relating to MIG.

In relation to the speculation about MIG spinning off its Australian toll roads into a separately listed entity MIG advises that no such transaction is currently being contemplated.

In relation to new opportunities, as outlined in the MIG prospectus dated 28 March 2002:

MIG continues to actively pursue opportunities for new projects, both existing and Greenfield, in Australia, Europe and North America.  The European opportunities are coming mainly through MIG’s new relationship with Cintra, but also through existing relationships and Macquarie Bank Limited’s network.

At the time of this Prospectus there are a number of toll road opportunities in particular in which MIG is involved in negotiations with other parties to acquire interests in toll road project entities.  MIG has signed memoranda of understanding (“MOU”) and confidentiality undertakings with the other parties for all these opportunities.  Those MOUs are essentially agreements to work towards a successful sale and purchase but are not binding agreements at this time.

The position as stated in the prospectus has not changed, namely MIG has signed a number of MOUs and is in discussions on a number of toll road projects both existing and Greenfield in Australia, Europe and North America including the proposed SR125 toll road in California.

For further information, please contact:

Melissa Colwell
Manager, Investor Relations
Macquarie Infrastructure Group
Tel: 61 2 8232 7356