INFRATIL LIMITED. — Director's Dealing 2011

Aug 29, 2011

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 30/09/01 Amended 01/01/11

Name of entity Infratil Limited

ABN ARBN144 728 307

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	Lloyd MORRISON
Date of last notice	19/07/2011

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 giving rise to the relevant interest.	H.R.L. Morrison & Co Limited has completed the purchase of 10,000,000 shares in Infratil Limited from Utilico Investments Limited. Lloyd Morrison has a relevant interest in Infratil shares held by H.R.L. Morrison & Co Limited under section 608(3)(a) of the Corporations Act 2001.
Date of change	24/08/2011
No. of securities held prior to change	Relevant interest in 65,871,768 Ordinary Shares and 4,269,009 IFT Warrants C series
Class	Ordinary Shares
Number acquired	10,000,000
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$1,85 per share, payable on completion.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	Relevant interest in 65,871,768 Ordinary Shares and 4,269,009 IFT Warrants C series
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Off-market trade (conditional on Infratil Limited shareholder approval and completion).

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

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed No above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade N/a to proceed during this period? If prior written clearance was provided, on what date was this N/a provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3