HICL Infrastructure Regulatory News (HICL)

23 September 2010

HSBC Infrastructure Company Limited

Investor Update

HSBC Infrastructure Company Limited ("HICL" or the "Company") is to hold an informal event for investors this evening hosted by both the Board of the Company and HICL's Investment Adviser. A copy of the handout to be distributed at the event will be made available on the Company's website later today. It includes no new material information regarding HICL.

The Investment Adviser continues to see a strong pipeline of investment opportunities, and HICL is in exclusive negotiations on a number of good sized projects across a range of target sectors and geographies. The Investment Adviser is optimistic that a number of these opportunities will translate into actual investments and commitments in the near future.

The acquisition of new investments will be financed by cash drawn from the Company's existing bank facility. In line with previous practice, the Company will seek to raise further monies by an issue of new shares in order to pay down the debt so incurred, thus maintaining the flexibility to grow its portfolio of investments, as and when suitable opportunities arise.

With the Company having fully utilised its ability to issue shares by way of a 'tap' issue for the time being, it is anticipated that the next fundraising will be undertaken by way of a prospectus and formal marketing of a Placing and Offer for Subscription. If the pipeline of new investments proceeds as expected, the Board will seek to raise new monies before the end of 2010.

In determining the size of the fundraising, the Board will maintain its previously stated policy of avoiding the Company raising funds materially in excess of investments made and investment commitments secured.

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