HICL Infrastructure Regulatory News (HICL)

14 April 2015

HICL Infrastructure Company Limited

Acquisition of two incremental investments

HICL Infrastructure Company Limited, the listed infrastructure investment company advised by InfraRed Capital Partners Limited, is pleased to announce the acquisition from Hochtief Solutions PPP (UK) Limited, a subsidiary of Hochtief AG, of further equity interests in two of its existing projects, namely a 40% interest in the Salford & Wigan Phase 1 BSF1 Project ("S&W Phase 1") and a 40% interest in the Salford & Wigan Phase 2 BSF Project ("S&W Phase 2"), for a combined consideration of £16.0m. As a consequence of the acquisitions, HICL now holds an 80% interest in each project.

S&W Phase 1 and S&W Phase 2 are 26-year and 27-year PFI concessions, respectively, to design, build, finance, maintain and operate five new secondary schools in Salford and Wigan, Greater Manchester on behalf of Salford City Council and Wigan Borough Council. S&W Phase 1 was signed in 2010 and has been fully operational since 2011, while S&W Phase 2 was signed in 2011 and has been fully operational since 2013. Construction of both projects was undertaken by Laing O'Rourke Construction, a subsidiary of Laing O'Rourke Plc. The provision of hard and soft FM services, including catering, are undertaken by SPIE Facility Services Limited, a subsidiary of SPIE SA Group.

The acquisitions are funded by drawings under the Group's revolving credit facility and are in line with the current valuation of similar UK infrastructure projects in the Group's portfolio.

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Enquiries

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

Tony Roper

Keith Pickard

Laurence Richardson

Tulchan Communications +44 (0) 20 7353 4200

Martha Walsh

Victoria Huxster

Canaccord Genuity Limited +44 (0) 20 7523 8000

Dominic Waters

Neil Brierley

Will Barnett

David Yovichic

HICL Infrastructure Company Limited

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group") 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. With a current portfolio of 101 social and transportation infrastructure investments with predominantly availability-based income streams, it is seeking further suitable investment opportunities which fit its stated Investment Strategy.

Further details can be found on the HICL website, www.hicl.com.

InfraRed Capital Partners Limited

The Investment Adviser to HICL is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in over 160 infrastructure projects since 1997. InfraRed is a leading international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Paris, Seoul and Sydney. With over 100 professionals it manages in excess of USD 8bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of over 50 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

Further details can be found on InfraRed's website, www.ircp.com.