HICL Infrastructure Regulatory News (HICL)

19 October 2012

HICL Infrastructure Company Limited

HICL makes two investments for £33.75m

HICL Infrastructure Company Limited (the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, is pleased to announce the acquisition of:

1. a 50% equity and 75% loan note interest in Prime LIFT Investments Limited ("PLIL") from Barclays European Infrastructure Fund II (50% of the equity and loan notes) and Prime Plc (25% of the loan notes). PLIL is the 60% private-sector partner in two LIFT Companies ("LIFTCos"), the Birmingham & Solihull LIFTCo and the Staffordshire LIFTCo, which have together successfully developed 25 new health and social care facilities with a total development cost of approximately £170m over the last eight years. The Group looks forward to working with Prime Plc and its development subsidiary Prime (UK) Investments Limited (who continue to own the remainder of PLIL), along with the public-sector shareholders in the two LIFTCos, to continue to provide new and improved health and social care facilities within the Birmingham & Solihull and Staffordshire areas; and

2. a further 9% equity and loan note interest in the Connect Project ("Connect") giving the Group a 28.5% interest overall. Connect is a 20 year concession which runs until November 2019 to upgrade and operate London Underground Limited's radio and telecommunications systems.

The total consideration for the two acquisitions was £33.75m, which is in line with the current valuation of other UK PFI projects in the Group's portfolio. These acquisitions bring the total number of infrastructure investments within the Group's portfolio to 75.

The acquisitions were funded from the Group's existing cash and debt resources.

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Enquiries

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

Tony Roper

Keith Pickard

Robin Hubbard

Tulchan Communications +44 (0) 20 7353 4200

Ed Orlebar

Rebecca Scott

Canaccord Genuity Limited +44 (0) 20 7523 8000

Dominic Waters

Neil Brierley

Will Barnett

David Yovichic

LIFT

The NHS LIFT initiative (Local Improvement Finance Trusts) was promoted by the Department of Health ("DH") as a means of generating rapid investment and improvement in the primary and community care estate in England and, in particular, in areas where the wider development market had historically failed to respond. To date the NHS LIFT initiative has created 49 LIFTCos covering two thirds of England's population. They have delivered over £2.5 billion of investment in more than 300 buildings that are either open or under construction. Each LIFTCo is governed by a shareholders agreement which provides for private sector partners ("PSP") to hold 60% of the shares in the LIFTCo, Community Health Partnerships (a subsidiary of the DH) to hold 20% and the remaining 20% to be held by local public sector organisations, predominantly Primary Care Trusts and local authorities.

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 75 infrastructure investments, all of which are social infrastructure projects, 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 Services Authority.