Ontario Appeals Court Decision Regarding 407 ETR

13 April 2004

Macquarie Infrastructure Group (“MIG”) today announced that, on 8 April, 2004,  the Province of Ontario served 407 ETR with a notice to appeal the decision of the Ontario Superior Court of Justice dated February 9, 2004.

In that decision, Mr. Justice Ian Nordheimer granted a declaration stating that the 60-day cure period applicable to an alleged default under the 407 concession contract does not commence unless and until it is determined that such default has in fact occurred.

The Province’s appeal is not expected to be heard for some months.

MIG also announced that, in a separate development, on 8 April, 2004, pursuant to the concession contract, 407 ETR gave Notice of Mediation in relation to its dispute with the Province as to whether 407 ETR is required to lodge a Change Request application and obtain the prior approval of the Province before increasing tolls on Highway 407.

MIG said that notice had been given in accordance with the contract but that, at this stage, further amicable discussions with the Province are scheduled.

407 International Inc. is the sole shareholder, operator and manager of 407 ETR, which extends 108 kilometres east-west, just north of Toronto.

MIG has an indirect and direct interest of 46% in 407 International Inc. which is owned by a consortium comprised of the Canadian subsidiary of Cintra Concesiones de Infraestructuras de Transporte (co-owned by Spanish construction company, Grupo Ferrovial and MIG) and Canadian-based SNC-Lavalin.

For further information, please contact:

Bianca Francis
Investor Relations Manager
Mobile: (61) 413 279 523
Email: bianca.francis@macquarie.com

Alan Stockdale
Global Head, Investor and External Relations
Macquarie Infrastructure Group
Tel: 612 8232 6771
Mobile: 61 0 418 276 366
Email: alan.stockdale@macquarie.com

Media Enquiries
Jane Rotsey
Public Affairs Manager
Mobile: (61) 401 997 160
Email: jane.rotsey@macquarie.com