Portfolio Update

2 October 2007

                      HSBC INFRASTRUCTURE COMPANY LIMITED                      

            (Incorporated in Guernsey with registered number 44185)            

                               PORTFOLIO UPDATE                                

In accordance with Listing Rule 15.4.11(2), HSBC Infrastructure Company Limited
(the "Company")announces that the following list represents the 10 largest*
investments** of the Company and its subsidiaries (the "Group") as at 30
September 2007.  This list includes all of the Group's investments with a value
greater than 5% of the Group's total assets:

Project             

Bishop Auckland Hospital                    
                                            
Central Middlesex Hospital                  
                                            
Colchester Garrison                         
                                            
Dutch High Speed Rail Link                  
                                            
Greater Manchester Police Authority Stations
                                            
Health & Safety Laboratory                  
                                            
Home Office Headquarters                    
                                            
Kemble Water                                
                                            
South East London Police Stations           
                                            
West Middlesex Hospital                     
                                            

Contact:

Kleinwort Benson (Channel Islands) Fund Services Limited

Company Secretary

01481 727111

Points to note:

* Outstanding subscription obligations that the Group is obliged to make in
respect of a project have been included for the purpose of calculating the
value of that project.

** The Group's investments comprise investments in the equity and debt of the
project company (and/or the project company's holding company) responsible for
the projects listed.