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Infrastructure Bond Allotment Notice

29 Apr 2011

The following information is provided in accordance with Listing Rules 7.12
Class of security: Infratil Limited Infrastructure Bonds (IFT140) and Infratil Limited Infrastructure Bonds (IFT160)

ISIN:  NZIFTD0015S9 (IFT140) and NZIFTD0160S3 (IFT160)

Number of new bonds allotted (excluding exchanges): 320,000
Number of bonds exchanged:                    610,666

Percentage of the total class of IFT160 exchanged and allotted:    1.55%

Percentage of the total class of IFT140 exchanged:    0.81%    

Issue Price:    $1.00 for new bonds and 1 for 1 in the exchange offer

Payment for new bonds:    In cash

Amount paid up:    Bonds allotted as fully paid up

Date of allotment:    New bonds were allotted between the 20th of April 2011 and 26th of April 2011 and include general offer and exchange applications. Bonds exchanged have been allotted between the 20th of April 2011 and 26th of April 2011.

Reason for the allotment: Applications received and processed under the simplified disclosure prospectus for the offer of Infrastructure Bonds dated 21 January 2011.

Specific authority for the allotment: The copy of the prospectus was delivered to the Registrar of Companies for registration has been signed by each director of Infratil or by his agent authorised in writing.

Terms or conditions of the allotment: Infratil is offering up to $25 million of IFT160 Infrastructure Bonds to all investors in New Zealand (with the option to accept up to $25 million oversubscriptions at Infratil's discretion).  Infratil is also offering holders of the IFT140 Infrastructure Bonds the opportunity to exchange all or some of their 2011 Bonds for the new Infrastructure Bonds.

Total number of IFT160 bonds in existence after the allotment:  60,090,066
Total number of IFT140 bonds in existence after exchange to IFT160: 75,472,351

K M Baker

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