HICL Infrastructure Regulatory News (HICL)

8 May 2013

HICL Infrastructure Company Limited

Acquisition of a New Investment

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, is pleased to announce that the Group has completed the acquisition of a 33.3% equity and loan note interest (the "Interest") in the HMP Addiewell Prison PFI Project (the "Project") from Royal Bank Project Investments Limited for £10.3m.

The Project is a £74m PFI scheme procured by the Scottish Prison Service to design, build, finance and operate a new maximum security prison at Addiewell, West Lothian, Scotland. The Project reached financial close in June 2006 with construction successfully completed on time at the end of 2008 and the prison officially open for use thereafter. The concession is for a total of 25 years from the end of construction.

Construction was undertaken by Interserve Project Services Limited, a subsidiary of Interserve Plc. Hard and soft operational services, including provision of custodial staff and lifecycle obligations are being undertaken by Sodexo Justice Services Limited, a subsidiary of Sodexo SA, under a full concession life contract.

The consideration paid by the Group is in line with the current valuations of similar UK PFI projects in the Group's portfolio and brings the total number of infrastructure investments within the Group's portfolio to 83. The acquisition was funded from the Group's existing cash and debt resources.

James O'Halloran, Investment Director, Infrastructure at InfraRed Capital Partners Limited (HICL's Investment Adviser) said:

"We are delighted to reach agreement with the vendor and the Scottish Prison Service to acquire the Interest in the Project, which we have been working on for a year. Our due diligence has confirmed the high quality of the facilities and the excellent relationships that exist between the public and private sectors which have contributed to the strong operational performance.

We are looking forward to working with all the stakeholders to ensure the Project continues to be successful"

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Enquiries

InfraRed Capital Partners Limited +44 (0) 20 7484 1800

Tony Roper

Keith Pickard

James O'Halloran

Robin Hubbard

Tulchan Communications +44 (0) 20 7353 4200

Ed Orlebar

Rebecca Scott

Canaccord Genuity +44 (0) 20 7523 8000

Dominic Waters

Neil Brierley

Will Barnett

David Yovichic

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. It was the first infrastructure investment company to be listed on the London Stock Exchange. It currently owns a portfolio of 83 social and transportation infrastructure investments and is seeking further suitable investment opportunities which fit its stated Investment Strategy.

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, whose infrastructure investment team has successfully invested in infrastructure projects since 1997.

InfraRed Capital Partners Limited is authorised and regulated by the Financial Conduct Authority.