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Infratil Bonds Series 04 Buyback

5 Dec 2003

Infratil has provided the following information in accordance with Section 7.12 of the Listing Rules:

Class of security: Bonds Series 04
Number of bonds redeemed: 26,150
Redemption Price: $1.40
Payment: In cash
Amount paid up: $1.40 per bond
Percentage of the total class of securities redeemed: 0.07%
Reason for the redemption: Offer to existing Bond holders to exchange maturing bonds for new bonds.
Specific authority for the redemption: Board resolution dated 22 August 2003
Terms or conditions of the redemption: Board resolution dated 22 August 2003
Total number of bonds in existence after the redemption: 38,170,582
Dates of redemption: Bonds redeemed 21 November 2003.

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