FUTURE GENERATION AUSTRALIA LIMITED — Major Shareholding Notification 2008

Jun 22, 2008

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Westpac Banking Corporation ABN 33 007 457 141

Group Secretariat Level 20, 275 Kent Street SYDNEY NSW 2000 Telephone: (61 2) 8253 0390 Facsimile: (61 2) 8253 1215

23 June 2008

Company Announcements Platform Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Substantial Shareholder Notice

In accordance with section 671B (3) of the Corporations Act 2001 (Cth), we attach our Notice of Initial Substantial Shareholder Notice (Form 603) in respect of AUSTRALIAN INFRASTRUCTURE.

Yours faithfully

Alex Crompton Company Secretary

k:\gsec\diana\bt\bt lodgements\substantial shareholder notices\603 - initial\2008\23062008.doc: 23/06/2008

Form 603

Corporations Law Section 671B

Notice of initial substantial holder

To Company Name/Scheme AUSTRALIAN INFRASTRUCTURE ACN/ARSN ABN 97 063 935 553

1. Details of substantial holder(1)

Name WESTPAC BANKING CORPORATION (WBC) ACN/ARSN (if applicable) ABN 33 007 457 141

The holder became a substantial holder on 19/06/2008

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities	Number of securities	Person’s votes (5)	Voting power (6)
ORDINARYSHARES	19,089,899	19,089,899	5.01%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Registered holder of securities	Nature of relevant interest (6)	Number of securities
BT Investment Management No.3 Pty Limited	HSBC Custody Nominees (Australia) Limited	BT Investment Management No.3 Pty Limited is the manager of various superannuation funds, institutional investor portfolios and unit trusts and, in that capacity, can exercise the power to vote or dispose ofthe shares.	41,214
Hastings Funds Management Limited	HSBC Custody Nominees (Australia) Limited	Hastings Funds Management Limited is the Responsible Entity of the Hastings Diversified Utilities Fund	333,319
BT Investment Management No.2 Limited	HSBC Custody Nominees (Australia) Limited	BT Investment Management No.2 Limited is the manager ofvarious	1,296,360

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		superannuation funds, institutional investor portfolios and unit trusts and, in that capacity, can exercise the power to vote or dispose ofthe shares.
BT Investment Management Limited	HSBC Custody Nominees (Australia) Limited	BT Investment Management Limited is the RE and fund manager of various superannuation funds, institutional investor portfolios and unit trusts and, in that capacity, can exercise the power to vote or dispose ofthe shares.	6,944,006
Westpac Banking Corporation	HSBC Custody Nominees (Australia) Limited	Westpac Banking Corporation Registered Holder of Securities.	10,475,000

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Persons entitled to be registered as holder(8)	Class and number of securities
BT Investment Management No.3 Pty Limited	HSBC Custody Nominees (Australia) Limited	See Schedule
Hastings Funds Management Limited	HSBC Custody Nominees (Australia) Limited	See Schedule
BT Investment Management No.2 Limited	HSBC Custody Nominees (Australia) Limited	See Schedule
BT Investment Management Limited	HSBC Custody Nominees (Australia) Limited	See Schedule
Westpac Banking Corporation	HSBC Custody Nominees (Australia) Limited	See Schedule

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration(9)	Consideration(9)	Class and number of securities
		Cash	Non-cash
WBC & associates	See Schedule	See Schedule

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows: Name and ACN/ARSN (if applicable) Nature of association

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7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Westpac Banking Corporation (WBC)	Level 20, Westpac Place, 275 Kent St, Sydney NSW2000
Westpac Financial Services Group Limited (WFSG)	Level 20, Westpac Place, 275 Kent St, Sydney NSW2000
BT Investment Management No.3 Pty Limited	Level 20, Westpac Place, 275 Kent Street, Sydney NSW2000
HastingsFundsManagementLimited	Level 15, 90 Collins street,Melbourne VIC 3000
BT Investment Management No.2 Limited	Level 20, Westpac Place, 275 Kent Street, Sydney NSW2000
BT Investment Management Limited	Level 15, Chifley Square, 2 Chifley Square, Sydney NSW2000
Westpac Banking Corporation	Level 20, 275 Kent St Sydney, NSW2000
AUSTRALIAN INFRASTRUCTURE	Level 15, 90 Collins St Melbourne, VIC 3000 Telephone: (03) 9654 4477 Fax: (03) 9650 6555

Signature

print name sign here	Alex Crompton capacityCompanySecretary
	date 23/6/2008

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	DIRECTIONS
(1)	If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related
	corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the
	relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically
	named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6of
	the form.
(2)	See the definition of “associate” in section 9 of the Corporations Law.
(3)	See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Law.
(4)	The voting shares of a company constitute one class unless divided into separate classes.
(5)	The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the
	person or an associate has a relevant interest in.
(6)	The person’s votes divided by the total votes in the body corporate scheme multiplied by 100.
(7)	Include details of:
	(a) Any relevant agreement or other circumstances because of which the change in relevant interest occurred. If
	subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and with a
	statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this
	form, together with a written statement certifying this contract, scheme or arrangement; and
	(b) Any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting
	powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to
	which the qualification applies).
	See the definition of “relevant agreement” in section 9 of the Corporations Law.
(8)	If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an
	option) write “unknown”.
(9)	Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant
	interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if
	the benefit is conditional on the happening or not of a contingency. Details mus be included of any benefit paid on behalf of
	the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from
	whom the relevant interest was acquired.

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SCHEDULE 2

Sales & Purchases for the period : 19/02/2008 to 19/06/2008 SECURITY: AUSTRALIAN INFRASTRUCTURE FUND (AIX)

BT Investment Management Limited

Date	Registered Company	Quantity	Value
29/02/2008	Australia and New Zealand Banking Group Limited	1722	5097.12
18/06/2008	Australia and New Zealand Banking Group Limited	-2583	-6018.39
Total		-861	-921.27
Date	Registered Company	Quantity	Value
29/02/2008	BNP Fund Services Australasia Pty Limited	4553	13476.88
Total		4553	13476.88
Date	Registered Company	Quantity	Value
29/02/2008	Citicorp Nominees Pty Limited	6788	20092.48
Total		6788	20092.48
Date	Registered Company	Quantity	Value
27/02/2008	HSBC Custody Nominees (Australia) Limited.	11667	34534.32
27/02/2008	HSBC Custody Nominees (Australia) Limited.	59383	175773.7
27/02/2008	HSBC Custody Nominees (Australia) Limited.	9324	27599.04
13/03/2008	HSBC Custody Nominees (Australia) Limited.	593	1334.25
21/04/2008	HSBC Custody Nominees (Australia) Limited.	475	1306.25
28/05/2008	HSBC Custody Nominees (Australia) Limited.	-15000	-41724
30/05/2008	HSBC Custody Nominees (Australia) Limited.	351	923.13
6/06/2008	HSBC Custody Nominees (Australia) Limited.	434	1054.62
10/06/2008	HSBC Custody Nominees (Australia) Limited.	89280	205344
13/06/2008	HSBC Custody Nominees (Australia) Limited.	265	620.1
Total		156772	406765.4
Date	Registered Company	Quantity	Value
29/02/2008	IAG Nominees Limited	2016	5967.36
29/02/2008	IAG Nominees Limited	2001	5922.96
29/02/2008	IAG Nominees Limited	2468	7305.28
29/02/2008	IAG Nominees Limited	2582	7642.72
11/03/2008	IAG Nominees Limited	7459	17379.47
11/03/2008	IAG Nominees Limited	-7459	-17379.47
12/03/2008	IAG Nominees Limited	1	2.9598
12/03/2008	IAG Nominees Limited	1	2.9598
12/03/2008	IAG Nominees Limited	1	2.9598
12/06/2008	IAG Nominees Limited	-34582	-80921.88
17/06/2008	IAG Nominees Limited	-68015	-161692.1
19/06/2008	IAG Nominees Limited	-11563	-27345.34
Total		-105090	-243112.1

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Date	Registered Company	Quantity	Value
29/02/2008	National Australia Bank Limited	8504	25171.84
Total		8504	25171.84
Date	Registered Company	Quantity	Value
29/02/2008	National Australian Custodian Services	7287	21569.52
29/02/2008	National Australian Custodian Services	16080	47596.8
29/02/2008	National Australian Custodian Services	2981	8823.76
Total		26348	77990.08
Date	Registered Company	Quantity	Value
29/02/2008	National Nominees Limited	6292	18624.32
10/06/2008	National Nominees Limited	-89280	-205344
Total		-82988	-186719.7
Date	Registered Company	Quantity	Value
29/02/2008	The Northern Trust company	534	1580.64
29/02/2008	The Northern Trust company	2068	6121.28
Total		2602	7701.92
	BT Investment Management Limited total	16628	120445.6
BT Investment Management No.2 Limited
Date	Registered Company	Quantity	Value
27/02/2008	HSBC Custody Nominees (Australia) Limited.	26114	77297.44
Total		26114	77297.44
	BT Investment Management No.2 Limited total	26114	77297.44
Westpac Banking Corporation
Date	Registered Company	Quantity	Value
24/04/2008	Westpac Banking Corporation	4307	11628.9
28/04/2008	Westpac Banking Corporation	59000	164082.2
29/04/2008	Westpac Banking Corporation	230000	636936.3
30/04/2008	Westpac Banking Corporation	150000	414316.9
1/05/2008	Westpac Banking Corporation	350000	957916.3
2/05/2008	Westpac Banking Corporation	413223	1171325
5/05/2008	Westpac Banking Corporation	170000	483871.6
6/05/2008	Westpac Banking Corporation	290000	821551.6
7/05/2008	Westpac Banking Corporation	360470	1014102
8/05/2008	Westpac Banking Corporation	23215	64309.95
9/05/2008	Westpac Banking Corporation	1920	5472
14/05/2008	Westpac Banking Corporation	200000	599760.9
15/05/2008	Westpac Banking Corporation	25983	77919.51
16/05/2008	Westpac Banking Corporation	106224	318359.8
19/05/2008	Westpac Banking Corporation	310000	910237

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20/05/2008	Westpac Banking Corporation	350658	1031241
21/05/2008	Westpac Banking Corporation	470000	1394569
22/05/2008	Westpac Banking Corporation	285432	853843.4
23/05/2008	Westpac Banking Corporation	259568	763406.8
26/05/2008	Westpac Banking Corporation	270000	789148.6
27/05/2008	Westpac Banking Corporation	450000	1316700
28/05/2008	Westpac Banking Corporation	690000	1947936
29/05/2008	Westpac Banking Corporation	920000	2486950
30/05/2008	Westpac Banking Corporation	645000	1677300
2/06/2008	Westpac Banking Corporation	580000	1500423
3/06/2008	Westpac Banking Corporation	385000	982988.3
12/06/2008	Westpac Banking Corporation	530483	1244537
13/06/2008	Westpac Banking Corporation	334971	784896.9
16/06/2008	Westpac Banking Corporation	259546	613328.6
17/06/2008	Westpac Banking Corporation	540588	1279681
18/06/2008	Westpac Banking Corporation	439178	1029194
19/06/2008	Westpac Banking Corporation	370234	865219.3
20/06/2008	Westpac Banking Corporation	350000	814511.3
Total		10825000	29027665
	Westpac Banking Corporation	10825000	29027665

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