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Infrastructure Bond Programme

19 Apr 2006

Infratil is closing its issue of 2015 Bonds.

The offer of 8.5% per annum February 2020 Bonds will remain open.

Infratil is continuing to issue Bonds to retire bank debt. The Bonds that are being issued at present are:

15 February 2020 - 8.50% per annum - Available until reviewed

The Bonds are unsecured and unsubordinated. Application has been made to NZX for permission to list the Bonds and all requirements of NZX relating thereto that can be complied with on or before the date of this notice have been duly complied with. However, NZX accepts no responsibility for any statement in this notice.

An Investment Statement in respect of the Bonds is available from Infratil or most financial advisors.

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