HICL Infrastructure Regulatory News (HICL)

22 September 2014

HICL Infrastructure Company Limited

Acquisition of two incremental investments for £5.1m

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 two incremental investments which comprise:

· a further 19% interest in the Sheffield BSF Schools project ("Sheffield BSF") from Building Schools for the Future Investments LLP, which takes the Group's ownership to 59%; and

· a further 50% of the Oldham Library PFI Project ("Oldham Library") in conjunction with an existing joint venture partner, Kajima Partnerships Limited ("KPL"), from a subsidiary of Kier plc.

The Group and KPL have established a new joint venture holding company ("HoldCo") in which the Group has a 90% shareholding. Following the Kier transaction, HoldCo now owns 100% of Oldham Library, increasing the Group's ownership from 50% to 90%.

Sheffield BSF is a 27-year PFI concession which involved the design, construction, financing, maintenance and operation of two new secondary schools and one new special educational needs secondary school in Sheffield, on behalf of the Sheffield City Council. The project was signed in July 2007 and has been fully operational since September 2009.

Oldham Library is a 25-year PFI concession which involved the design, construction, financing, maintenance and operation of a new library and lifelong learning centre in Oldham, on behalf of the Oldham Metropolitan Borough Council. The project was signed in May 2004 and has been fully operational since January 2006.

The consideration paid by the Group for both incremental investments is in line with the current valuation of similar UK social infrastructure projects in the Group's portfolio.

Tony Roper, Director of InfraRed Capital Partners Limited, said:

"We are pleased to have completed these two incremental acquisitions in good, operational projects which meet the Group's strategy of increasing its stakes to majority ownership when the opportunity arises. It further demonstrates how the Group can leverage the existing portfolio to increase ownership when suitable opportunities arise."

-ends-

Enquiries

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

Tony Roper

Keith Pickard

Robin Hubbard

Tulchan Communications +44 (0) 20 7353 4200

Martha Walsh

Victoria Huxster

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 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.