FUTURE GENERATION AUSTRALIA LIMITED — Capital/Financing Update 2007

Nov 12, 2007

Total pages: 1

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ASX Announcement

Australian Infrastructure Fund (AIX)

13 November 2007

Exchangeable Bond Issue update

Australian Infrastructure Fund (“AIX”) has decided to withdraw the exchangeable bond offering owing to the materially adverse conditions experienced in the global financial markets on Monday 12 November 2007.

As previously noted, AIX has initially funded the acquisition of additional stakes in APAC, Perth Airport and NT Airports from BAA through the drawdown of existing senior debt facilities and available cash reserves. AIX has a high degree of flexibility in terms of both timing and the range of options available for longer term financing, including the ability to re-offer the exchangeable bond once market conditions have stabilised.

Chief Operating Officer, Peter McGregor, said “Market conditions deteriorated to such an extent yesterday that completing the exchangeable bond issue became impractical. Our decision to withdraw the issue reflects the fact that we have a range of options available to us, including leaving the existing senior debt financing in place for an extended period, and we will review our options in light of the market environment going forward."

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

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