Update on 407 ETR Dispute

26 July 2004

Macquarie Infrastructure Group (MIG) advises that 407 ETR has taken action to expedite the resolution of a number of issues in dispute with the Ontario government.   The actions taken were:

• 407 ETR has made an application in the Ontario Superior Court of Justice seeking a judicial order requiring the Ontario Registrar of Motor Vehicles to enforce Provincial legislation providing for the non-renewal of vehicle permits for 407 ETR customers with overdue accounts;
• 407 ETR has served a notice of Discriminatory Action under the Concession Agreement seeking compensation for the failure of the Registrar to perform his statutory duty to deny vehicle permits after having served a preliminary notice on this issue on 28 January 2004; and
• 407 ETR has invoked the dispute resolution provisions of the Tolling, Congestion Relief and Expansion Agreement to resolve the dispute with the Province in relation to the designation of Base Year

407 ETR had advised the Province in advance that it would be taking these actions after they had been the subject of extensive discussion with Province officials.

407ETR is the company which holds a 94 year concession to operate Highway 407, which is a 108 kilometre toll road serving the main growth corridor in the Greater Toronto Area.   MIG currently has direct and indirect interests totalling 43% in 407 ETR.

Attached is the news release issued by 407 ETR on Friday 23 July 2004. (pdf 85 KB)

For further information, please contact:

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

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

Investor Enquiries
Peter Johnston
Head of Investor Relations
Mobile: (61) 413 994055
Email: peter.johnston@macquarie.com