HICL Infrastructure Regulatory News (HICL)

15 January 2015

HICL Infrastructure Company Limited

Acquisition of two incremental investments for £8.1m

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 further equity interests in two of its existing projects, as follows:

· 50% of the share capital and all of the remaining loan notes in the Willesden Hospital PFI Project. (Completion of the acquisition of £0.7m of the loan notes is deferred until 2019).

· 15% of the share capital in the Barking and Dagenham Schools PFI Project.

Following completion of the acquisitions, the Group will hold 100% of the equity interests in each of the projects.

Willesden Hospital PFI Project is a 32-year concession for the design, construction, financing, maintenance and operation of a community hospital in North London. The project was signed in December 2002 and has been fully operational since April 2005.

Barking & Dagenham Schools PFI Project is a 27-year concession for the design, construction, financing, maintenance and operation of two new secondary schools in East London. The project was signed in March 2004 and has been fully operational since August 2009.

The consideration paid by the Group for both incremental investments, which amounted to approximately £8.1m in aggregate, is in line with the current valuation of similar UK social infrastructure projects in the Group's portfolio and was funded by way of drawings under the Group's revolving credit facility.

David Foot, Director, Infrastructure, InfraRed Capital Partners Limited, said:

"Both projects have performed well over recent years and we are pleased to be able to continue the strategy of increasing the Group's ownership of existing projects when suitable opportunities arise."

-ends-

Enquiries

InfraRed Capital Partners Limited +44 (0) 20 7484 1800Tony RoperKeith PickardLaurence Richardson

Tulchan Communications +44 (0) 20 7353 4200Martha WalshVictoria Huxster

Canaccord Genuity +44 (0) 20 7523 8000Dominic WatersNeil BrierleyWill BarnettDavid 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 96 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 ("InfraRed"), whose infrastructure investment team has successfully invested in over 160 infrastructure projects since 1997. InfraRed manages specialised funds and co-investment capital on behalf of a broad range of investors from around the world, creating value through investing in infrastructure and real estate projects. The head office is in London, with offices in Hong Kong, New York, Paris and Sydney. InfraRed is authorised and regulated in the UK by the Financial Conduct Authority.

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