INFRATIL LIMITED. — Capital/Financing Update 2012

Jan 8, 2012

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9 January 2012

Announcement to the New Zealand Exchange

The following information is provided in accordance with Listing Rules 7.12

Class of security:	Infratil Limited Infrastructure Bonds (IFT170)
ISIN:	NZIFTD0170S (IFT170)
Number of new bonds allotted:	18,631,000
Percentage of the total class of IFT170
allotted:	27.54%
Issue Price:	$1.00 for new bonds
Payment for new bonds:	In cash
Amount paid up:	Bonds allotted as fully paid up
Date of allotment:	New bonds were allotted between the 14thof December 2011
	and 30thof December 2011.
Reason for the allotment:	Applications received and processed under the simplified
	disclosure prospectus for the offer of Infrastructure Bonds
	dated 4 November 2011.
Specific authority for the allotment:	The copy of the prospectus was delivered to the Registrar of
	Companies for registration has been signed by each director
	of Infratil or by his agent authorised in writing.
Terms or conditions of the allotment:	Infratil is offering up to $25 million of IFT170 Infrastructure
	Bonds to all investors in New Zealand (with the option to
	accept up to $50 million oversubscriptions at Infratil's
	discretion).
Total number of IFT170 bonds
in existence after the allotment:	67,658,500