Renegotiation of Westlink M7 Debt Facility and Early Completion Bonus Paid to ALJV

22 December 2005

Macquarie Infrastructure Group (MIG) today announced the renegotiation of the existing debt facility in relation to the Westlink M7 in Sydney, Australia.  MIG has a 45% direct interest in Westlink M7.

There has been no change in the facility limit of $1,250 million.  The renegotiation has resulted in an interest only facility with a weighted average tenor of 6.8 years with bullet repayments due in:

• Tranche 1 - $500 million 5 years
• Tranche 2 - $500 million 7 years
• Tranche 3 - $250 million 10 years

Interest rate hedging has been put in place in relation to 85% of the face value of the debt.

The weighted average interest margin on the facility has been reduced to 78 basis points.

The facility has a credit rating of BBB- from Fitch.

Westlink M7 has paid the ALJV (Abigroup Leighton joint venture) a fixed total of $61 million as payment for the early completion bonus for delivering the road eight months ahead of schedule.

For further information 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

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