HICL Infrastructure Regulatory News (HICL)

02 June 2011

HICL Infrastructure Company Limited

Acquisition of an interest in Brentwood Community Hospital PFI Project for £4.6m

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, is pleased to announce the acquisition of a 75% interest in the Brentwood Community Hospital PFI Project (the "Project") from Kajima Partnerships Limited ("Kajima") and other minority shareholders. The total consideration paid by the Group for its share of the acquired interest amounted to £4.6million.

The acquisition follows the recent announcement of the establishment of a new joint venture holding company ("Holdco") with Kajima, in which the Group has a 75% shareholding. The acquisition has been undertaken by Holdco such that it now owns 100% of the Project.

The Project is a 32 year concession to design, build, finance, operate and maintain a community hospital in Brentwood, Essex, providing approximately 50 inpatient beds in a 9,000m2 facility. The Project reached Financial Close in June 2006 and construction was completed in August 2008. Hard FM services are undertaken by Integral UK Limited and soft FM services by Initial Facilities. Kajima is currently responsible for management of the Project, and will continue to be so under the new ownership arrangements.

The consideration paid for the investment is in line with the current valuation of similar UK PFI projects in the Group's portfolio.

The acquisition was funded from the Group's existing cash resources, and takes the number of infrastructure investments in the Group's portfolio to 41.

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HICL Infrastructure Company Limited

The Company is a long term investor in infrastructure projects which are predominantly in their operating phase and yielding steady returns. Once this acquisition is completed, the Company will own a portfolio of 41 infrastructure projects of which 39 will be operational.

The Company continues to seek further suitable investment opportunities in line with its strategy set out in its 2011 annual results published on Tuesday 24 May, 2011.

Further details of the Company can be found on its website www.hicl.com.

Investment Adviser

The Investment Adviser to the Company is InfraRed Capital Partners Limited (formerly HSBC Specialist Fund Management Limited) whose infrastructure investment team has successfully invested in and managed infrastructure projects since 1997. InfraRed Capital Partners Limited is authorised and regulated by the Financial Services Authority.

Further details of the Investment Adviser can be found on its website www.ircp.com.