FUTURE GENERATION AUSTRALIA LIMITED — Director's Dealing 2002

Nov 14, 2002

T-169 P.001/004 F-257

Melbourne Level 15, 90 Collins Street Melbourne Vic. 3000 Australia Telephone 61 3 9654 4477 Facsimile 61 3 9650 6555

Sydney

Level 23, Gold Fields House 1 Alfred Street Sydney NSW, 2000 Australia Telephone 61 2 9251 4220 Facsimile 61 2 9251 7709 Website www.hfm.com.au

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AUSTRALIAN STOCK EXCHANGE

AIX000418

FACSIMILE

TO:	Australian Stock Exchange Limited Company Announcements Office 10 th Floor, 20 Bond Street Sydney NSW 2000
FAX NO:	1300 300 021
FROM:	Jim Hallam, Company Secretary
DATE:	15 November 2002.
PAGES:	4

AUSTRALIAN INFRASTRUCTURE FUND (ASX CODE AIX)

ANNOUNCEMENT HEADING:

APPENDIX 3Y - CHANGE IN DIRECTOR'S INTEREST NOTICE

Please find enclosed Appendix 3Y form in accordance with Listing Rule 3.19A.

For further enquiries, please contact:
Jim Hallam
Company Secretary
	Australian Infrastructure Fund
Tel:	(03) 9654 4477
Fax:	(03) 9650 6555
E-mail:	aif@him.com.au
Website:	ausinfrastructure.com.au

Jim Hallam Company Secretary Australian Infrastructure Fund

$T - 169$ P.002/004 F-257

Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity Australian Infrastructure Fund Limited (ABN: 97 063 935 553) Hastings Funds Management Limited (ABN. 27 058 693 388) as responsible entity for Australian Infrastructure Fund trust (ARSN. 089 889 761)

ABN

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Michael Clifford Fitzpatrick
Date of last notice	------ 11/11/02

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances eivine rise to the relevant interest.	241,011 securities held by Hastings Funds Management Limited of which the director is director and beneficial owner of 49%. 175,000 securities held by Squitchy Lane Holding Pty Ltd (trustee of Fitzpatrick Family Trust) of which director is a beneficiary. 110,022 securities held by Log Creek Pty Ltd (trustee of Log Creek Trust) of which director is a beneficiary
Date of change	Refer below
No. of securities held prior to change	526,033
Class	Ordinary fully paid stapled securities
Number acquired	300,535 comprising: $8/11/02 - 10,000$ $11/11/02 - 50,000$ $12/11/02 - 106,393$ $13/11/02 - 134.142$

G:\comp_secretary\AIFL\BOARD\ASX requirements re directors\2002\ASX LR 3Y notification MCF - 15_11_02.doc + See chapter 19 for defined terms.

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Appendix 3Y Change of Director's Interest Notice

Number disposed	n/a
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$$414,747.11$ comprising:
	$8/11/02 - 513,745.21$
	$11/11/02 - $68,224.40$
	12/11/02 - \$147,292.88 13/11/02 - \$185,484.62
No. of securities held after change	241,011 securities held by Hastings Funds Management Limited of which Michael Fitzpatrick is a director and a beneficial owner.
	175,000 securities held by Squitchy Lane Holding Pty Ltd (trustee of the Fitzpatrick Family Trust) of which director is a beneficiary
	410,557 securities held by Log Creek Pty Ltd (trustee of Log Creek Trust) of which director is a beneficiary
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On-market trade

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	M
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
G:\comp_secretary\AIFL\BOARD\ASX requirements re directors\2002\ASX LR 3Y notification MCF - 15 11 02.doc

• See chapter 19 for defined terms.

Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

G:\comp_secretary\AFL\BOARD\ASX requirements re directors\2002\A\$X LR 3Y notification MCF - 15 11 02.doc + See chapter 19 for defined terms.

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