Acquisition

HSBC Infrastructure Company Limited
17 August 2007



17 August 2007

HICL Buys 50% Stake in Four Police Assets from Allianz Unit for £36.5 million


HSBC Infrastructure Company Limited ('HICL'), the listed infrastructure
investment company, announces today it has completed the acquisition of a 50%
interest in four police PFI projects from a subsidiary of Allianz SE for £36.5
million, payable in cash from existing resources and debt facilities.

The four police projects are

• Metropolitan Police Specialist Training Centre - a firearms and public order 
  training facility in Gravesend, Kent

• South East London Police Stations - 5 police station buildings for the 
  Metropolitan Police Authority (London), in Deptford, Lewisham, Bromley and 
  Sutton

• Greater Manchester Police Stations - 17 police station buildings on 16 sites 
  around Greater Manchester

• Durham & Cleveland Firearms Training Centre - a firearms and tactical training 
  centre at Urlay Nook on the outskirts of Stockton, North England


The first three projects were built as PFI projects by Laing O'Rourke and are
being operated by Equion FM, the facilities management division of John Laing.
The Durham & Cleveland Firearms Training Centre was built by Barr, the Scottish
construction company, and is also operated by Equion FM. All projects are
operational.

Tony Roper, Director, HSBC Specialist Fund Management Limited, HICL's Investment
Adviser, said: 'I am delighted to acquire these quality assets which I am very
familiar with from my time with John Laing. This acquisition, HICL's largest to
date, is in keeping with our strategy of expanding HICL's portfolio with
suitable new infrastructure assets.'


M:Communications:

Ed Orlebar                     [phone]
Tilly von Twickel              [phone]


HSBC Infrastructure Company Limited

The Company is a long term investor in infrastructure projects which are
predominantly in their operating phase and yielding steady returns. It was the
first infrastructure investment company to be listed on the London Stock
Exchange. It manages a portfolio of mostly operational infrastructure projects
and seeks to acquire further investment opportunities.

The Investment Adviser to the Company is HSBC Specialist Fund Management
Limited, whose infrastructure investment team has successfully invested in
infrastructure projects since 1997 and which is part of HSBC Specialist
Investments, the infrastructure and real estate investment arm of the HSBC
Group.






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