FUTURE GENERATION AUSTRALIA LIMITED — Capital/Financing Update 2007

Dec 23, 2007

Total pages: 1

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ASX Announcement

Australian Infrastructure Fund (AIX)

24 December 2007

AIX announces extension of multi-option facility

AIX has successfully completed an extension of its multi-option facility (“MOF”) for a one year term. The revised terms of the facility, provided jointly by ANZ and Westpac, include an increase in its size to $250 million and a reduction in fees and margins. The revised multi-option facility also includes increased flexibility for AIX to incur certain additional financial indebtedness without requiring the approval of the MOF providers.

Chief Operating Officer, Peter McGregor, said, “The revised facility gives AIX continuing flexibility in relation to its longer term financing options. The fact that we have achieved these improved terms during a period of volatility in credit markets is a testament to the quality of assets in the AIX portfolio, and to our track record of prudent capital management. Furthermore, AIX remains in a position where it has a high degree of interest rate hedging applied to borrowings within the assets, as well as limited refinancing requirements over the coming twelve months. Consequently, AIX remains confident about the outlook for portfolio returns over the medium term."

For further enquiries, please contact:

Peter McGregor Chief Operating Officer Australian Infrastructure Fund Tel: +61 3 9654 4477 Fax: +61 3 9650 6555 Email: investor_relations@hfm.com.au Website: www.hfm.com.au

Simon Ondaatje

Head of Investor Relations

Hastings Funds Management Tel: +61 3 9654 4477 Fax: +61 3 9650 6555 Email: investor_relations@hfm.com.au Website: www.hfm.com.au

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Kim Rowe Company Secretary

Australian Infrastructure Fund

Unless otherwise stated, the information contained in this document is for informational purposes only. It does not constitute an offer of securities and should not be relied upon as financial advice. The information has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person or entity. Before making an investment decision you should consider, with or without the assistance of a financial adviser, whether any investments are appropriate in light of your particular investment needs, objectives and financial circumstances. Neither Hastings, nor any of its related parties, guarantees the repayment of capital or performance of any of the entities referred to in this document and past performance is no guarantee of future performance. Hastings, as the Manager or Trustee of various funds, is entitled to receive management and performance fees.

www.hfm.com.au