Portfolio Update

1 April 2008

                      HSBC INFRASTRUCTURE COMPANY LIMITED                      

            (Incorporated in Guernsey with registered number 44185)            

                               PORTFOLIO UPDATE                                

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 31 March 2008. 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                 
                                           
Health & Safety Laboratory                 
                                           
Home Office Headquarters                   
                                           
Kemble Water                               
                                           
South East London Police Stations          
                                           
Stoke Mandeville Hospital                  
                                           
West Middlesex Hospital                    

Contact:

Kleinwort Benson (Channel Islands) Fund Services Limited

Company Secretary

01481 727 111

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.