FUTURE GENERATION AUSTRALIA LIMITED — Capital/Financing Update 2009

Sep 30, 2009

Total pages: 3

==> picture [216 x 105] intentionally omitted <==

Hastings Funds Level 16, 90 Collins Street Management Limited Melbourne VIC 3000 Australia ABN 27 058 693 388 T +61 3 8650 3600 AFSL No. 238309 F +61 3 8650 3701 Australian Infrastructure www.hfm.com.au Fund Limited Melbourne, London, New York, Sydney ABN 97 063 935 553

ASX Announcement

Australian Infrastructure Fund (AIX)

1 October 2009

Perth Airport financing demonstrates the value of resilient infrastructure in tough markets

Attached is a release from Perth Airport, announcing the successful completion of its refinancing process, which has raised $740.0 million through the establishment of new debt facilities, with shareholders committing a further $142.0 million. Perth Airport intends to use the funds to refinance existing debt facilities and to meet the Airport’s planned capital expenditure programme over the next three years.

AIX’s equity commitment to Perth Airport is $42.2 million over the next three years, with these funds already having been raised by AIX by way of the rights issue in June 2009. The first tranche of shareholder equity was contributed in June 2009. All shareholders contributed to the first tranche in accordance with their pro rata equity interests at Perth Airport, with AIX’s pro rata share being $10.4 million.

The support extended by the Airport’s existing relationship banks, as well as that from newly established relationships with domestic and international banks, was pleasing and illustrates the strength of core cash flows generated by Perth Airport. This capital certainty provides Perth Airport with confidence to pursue the airport expansion in order to meet the continued strong growth expected in passenger demand.

AIX is also acquiring $8.7 million at par of convertible notes issued by Australia Development Group Pty Limited from an existing note holder.

AIX owns 29.7 percent of Airports Development Group Pty Limited, the holding company for Perth Airport, which represents 27.2 percent of the AIX portfolio (based on the independent valuations conducted as at 30 June 2009).

For further enquiries, please contact:

Jeff Pollock Simon Ondaatje Chief Executive Officer Head of Investor Relations Australian Infrastructure Fund Hastings Funds Management Tel: +61 3 8650 3600 Tel: +61 3 8650 3600 Fax: +61 3 8650 3701 Fax: +61 3 8650 3701 Email: investor_relations@hfm.com.au Email: investor_relations@hfm.com.au Website: www.hfm.com.au/aix Website: www.hfm.com.au/aix

==> picture [91 x 55] intentionally omitted <==

Claire Filson

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 including Westpac Banking Corporation ABN 33 007 457 141, 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.

==> picture [190 x 49] intentionally omitted <==

Date: 1 October 2009

No. of pages: 2

==> picture [596 x 82] intentionally omitted <==

WESTRALIA AIRPORTS CORPORATION COMPLETES MAJOR FINANCING

Westralia Airports Corporation, the owner and operator of Perth Airport, announces that it has achieved an important milestone in its expansion of Perth Airport with the completion of a major new financing process.

As part of the financing, the company has agreed new debt facilities totalling $740 million. In addition, the company’s shareholders have also committed further funding totalling $142 million. The new financing will be used to refinance existing bank debt facilities and to fund the airport’s substantial capital expenditure programme.

The new debt facilities are being provided by a total of eight banks from Australia, Europe and Asia.

“Completion of the financing provides our company the funding certainty we need to proceed with our major investments to increase capacity and customer service levels at Perth Airport,” said Perth Airport’s CEO Brad Geatches. “These funds will underpin our investment in a new domestic terminal, “Terminal WA”, and expansion of our existing international terminal, as well as many other projects that will further improve customer service at Perth Airport,” Mr Geatches said.

“The fact that this major financing has been successfully completed during a period of unprecedented dislocation in global financial markets reflects the confidence shareholders and lenders have in our business performance and plans” said Mr Geatches.

Information on the company’s airport expansion plans follows.

Perth Airport Expansion Plans

The following are the key elements of Perth Airport’s investment plans over the next three years:

• A new domestic terminal designed to serve regional Western Australia and also some interstate services.

• Expanding the capacity of the current domestic terminal with new aerobridges, expanded departures and new retail.

• Redeveloping the domestic terminals forecourt to improve vehicle, taxi and pedestrian access, including covered pick-up and drop-off and covered walkways to car parks and rental cars.

…more/

Westralia Airports Corporation Pty Ltd A.C.N 077 153 130 A.B.N 24 077 153 130 2 George Wiencke Drive, Perth Airport PO Box 6 Cloverdale Western Australia 6985 Telephone: +61 8 9478 8888 Fax: +61 8 9277 7537 E-Mail: perthairport@wac.com.au Web Site: www.perthairport.com

==> picture [596 x 82] intentionally omitted <==

• Expanding the International Terminal, including check-in, departures, bag reclaim, quarantine and five new aircraft parking positions.

• An on-airport public road linking the international and domestic terminal precincts, which will reduce the time to transfer between the precincts to 10 minutes.

• Ends -

MEDIA CONTACT: Alana Pham

General Manager, Corporate Affairs Perth Airport (Westralia Airports Corporation) Media Line: +61 8 9478 8877

Westralia Airports Corporation Pty Ltd A.C.N 077 153 130 A.B.N 24 077 153 130 2 George Wiencke Drive, Perth Airport PO Box 6 Cloverdale Western Australia 6985 Telephone: +61 8 9478 8888 Fax: +61 8 9277 7537 E-Mail: perthairport@wac.com.au Web Site: www.perthairport.com