Interim Management Statement

HSBC Infrastructure Company Limited
13 August 2007


HSBC Infrastructure Company Ltd


INTERIM MANAGEMENT STATEMENT
3 Month Period to 30 June 2007


Trading

HSBC Infrastructure Company Limited (the 'Company') has seen its portfolio of 17
infrastructure and PFI investments continue to perform in line with
expectations. There are no material operational issues to report which might
impact on the valuation of the Company's investments.


HSBC Specialist Fund Management Ltd ('HSFML'), in its capacity as Investment
Adviser to the Company and Operator of the Company's partnership, is continuing
its work to optimise the returns from each investment, in line with the
statements made in the Company's report and financial statements for the period
to 31 March 2007.


The Investment Adviser continues to seek suitable new infrastructure assets to
acquire, provided they can be purchased at reasonable prices and meet the
Company's Investment Policy, details of which can be found on the Company's
website: www.hicl.hsbc.com


HSFML Resources

The Investment Adviser has recently recruited Keith Pickard to join the team as
Portfolio Director in relation to the Company's portfolio. Keith previously
worked at John Laing PLC, and his responsibilities will include delivering the
refinancing proposed for certain projects in the portfolio and the regular
valuations of the portfolio. The team dedicated to advising the Company is now
six strong.

Valuation of the Portfolio

Since the valuation of the portfolio at 31 March 2007, the 20 year Treasury Gilt
has risen in rate from 4.7% to 5.3%. This suggests that the discount rates used
to value the portfolio should be trending upwards but the Investment Adviser
hass yet to see clear evidence that this is happening in the market for these
assets, suggesting the risk premium over the Gilt may, for the time being, have
reduced further.

Financial Calendar

The Company intends to announce its interim results for the 6 months to 30
September, including a valuation of the portfolio, on Tuesday 20 November 2007.


The planned timetable is:

Announcement of interim results            Tuesday 20 November 2007
Ex-dividend date                           Wednesday 28 November 2007
Record date                                Friday 30 November 2007
Payment date                               Friday 28 December 2007



For further information please contact:


HSBC Specialist Fund Management Limited    020 7991 8888
Tony Roper
Sandra Lowe


M: Communications                          020 7153 1530
Ed Orlebar
Tilly von Twickel



Notes to Editors

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.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
    
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