HICL Infrastructure Regulatory News (HICL)

1 April 2015

HICL Infrastructure Company Limited

New Investment in Holland and a follow-on investment in the UK

HICL Infrastructure Company Limited, the listed infrastructure investment company advised by InfraRed Capital Partners Limited, is pleased to announce a new investment of €11.5m for a 75% interest in the Zaanstad Penitentiary Institution PPP project (the "Project") acquired from a subsidiary of Ballast Nedam BV ("BN"), which signed on 31 March 2015.

The Project comprises the construction and 25-year operation of a new penitentiary institution in Zaanstad, the Netherlands. The Project is governed by a Design, Build, Finance, Maintain and Operate Agreement with the State of the Netherlands and has tenure of 27.5 years.

The facility, which is currently being built, will have a capacity of approximately 1,000 detainees, and includes a labour centre, a psychiatric care institute, a recreational facility, offices and healthcare facilities. The complex is being built on a greenfield site of flat land in a polder area, right next to the North Sea canal. Construction commenced in April 2014 and the project is scheduled to be operational in March 2016.

The obligations relating to both the delivery of the construction works and of the facilities management services have been sub-contracted to a single sub-contractor formed by subsidiaries of the Ballast Nedam group and the Royal Imtech group. Custodial services do not form part of the Project's scope of services.

The consideration of €11.5m comprises an investment in shares and a loan stock subscription obligation payable following construction completion. The acquisition is in line with the valuation of similar construction infrastructure projects in the Group's portfolio and was funded by way of drawings under the Group's revolving credit facility.

The Group has also recently completed the acquisition of an additional 12% equity and loan note interest in the Newham BSF project from RM Plc for £1.6m. This takes the Group's total interest in this project to 80%.

Tony Roper, Director, InfraRed Capital Partners Limited said:

"We are delighted to have completed these acquisitions, in particular the project from Ballast Nedam, which represents HICL's second investment in Holland. We are pleased with the Project's construction progress and we look forward to working with both Ballast Nedam and Royal Imtech with a view to delivering the Project on time, and to future opportunities that may arise in the region."

-ends-

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.