FUTURE GENERATION AUSTRALIA LIMITED — Capital/Financing Update 2009

Jun 30, 2009

==> picture [217 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)

Total pages: 2

1 July 2009

NT Airports puts terminal expansion on hold

Attached is a release from NT Airports regarding the terminal expansion at Darwin International Airport, which has been put on hold.

This will not affect the distribution guidance recently provided by AIX to the market as part of its Capital Initiatives announcement of 18 June 2009. The distribution guidance conservatively assumed that the terminal expansion would not proceed.

AIX owns 28.2 percent of NT Airports (the holding company for Darwin, Alice Springs and Tennant Creek airports), with NT Airports representing 5.1 percent of the AIX portfolio (based on the independent valuations as at 31 December 2008).

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 [115 x 77] intentionally omitted <==

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 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 <==

==> picture [190 x 79] intentionally omitted <==

MEDIA RELEASE

Wednesday 1[st] July 2009

AIRPORT PUTS TERMINAL EXPANSION ON HOLD

Darwin International Airport and Jetstar, representing the broader Qantas group, have been unable to reach a commercial agreement necessary to underpin the $60 million terminal expansion planned for Darwin. As a result, the terminal expansion has been put on hold.

Consequently, this portion of the debt facility has now expired but this will not affect the other debt facilities currently in place and available to NT Airports. If a commercial agreement allowing for the terminal expansion is reached with the airlines in the future, NT Airports will seek to re-engage with its financiers on the funding of the expansion.

The Chief Executive Officer for NT Airports Mr Ian Kew said “Darwin International Airport has devoted considerable resources to the expansion project including agreeing the project scope with the Qantas Group and obtaining planning approvals from the Commonwealth Government.”

“Gaining the support of Qantas and Jetstar was critical given that they represent over 80% of our business. We believe that Qantas and Jetstar remain committed to Darwin and the concept of the hub but recognize that because of the pressures of the current economic conditions, it was difficult for them to agree to an investment program in the near term that required a further increase in airport charges.” he said.

“Although disappointed, Darwin International Airport will continue to work with all its airline partners to support their growth and expand air services through Darwin. At the same time, we are a commercial operation and have an obligation to achieve appropriate returns for our shareholders.”

In the past five years, the airport has delivered more than $77 million in aviation related capital projects. Although the major terminal project is now on hold, the airport is expected to invest a further $19 million in aviation related projects in the 2009/10 financial year. This includes the two additional aircraft parking positions currently under construction to accommodate additional peak period services and over-nighting aircraft.

NT Airports would like to thank the Northern Territory and Commonwealth Governments for their strong support throughout the terminal expansion process.

Media contacts

Ian Kew, Chief Executive Officer, Darwin International Airport on 8920 1808 Jane Munday, Michels Warren Munday, 0427 880 083

==> picture [127 x 43] intentionally omitted <==

==> picture [101 x 46] intentionally omitted <==

==> picture [106 x 44] intentionally omitted <==