Amendment of Constitutions

30 June 2005

Macquarie Infrastructure Group (“MIG”) has today amended the constitutions of Macquarie Infrastructure Trust (I) (“MIT(I)”) and Macquarie Infrastructure Trust (II) (“MIT(II)”) to remove the 80 year limit on the life of the Trusts, pursuant to the terms of the attached Supplemental Deed Polls.

These changes have been made to provide greater consistency in the presentation of MIG’s financial accounts and will have no adverse impact on investors.

The changes have been made as a result of the introduction of Australian equivalents to International Financial Reporting Standards (“AIFRS”) for reporting periods ending after 30 June 2005.  Under AIFRS, if the 80 year life clause were to have remained in the MIT(I) and MIT(II) Constitutions, the units of MIT(I) and MIT(II) would be accounted for as debt in MIG’s accounts.

Subsequent to these changes, units in MIT(II) will continue to be accounted for as equity upon the implementation of AIFRS. Units in MIT(I) will be classified as a compound financial instrument in MIG’s accounts. It is anticipated that further changes to the MIT(I) Constitution will be proposed at the Annual General Meeting on 21 November 2005 to enable units in MIT(I) to be accounted for as equity.

The first financial report for MIG to be prepared in accordance with AIFRS will be the half year financial report for the period ending 31 December 2005.

ASIC has issued Class Order C05/566 which clarifies that the removal of the 80-year life clause from a trust constitution does not require unitholder approval, provided the Responsible Entity reasonably considers that the modification does not materially change the nature of the scheme or have a materially adverse effect on members’ interests.

• Download Supplemental Deed Poll (pdf 283 KB)

For further information, please contact:

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

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

Investor Enquiries
Bianca Francis
Investor Relations Manager
Tel: 61 2 8232 5007
Email: bianca.francis@macquarie.com