Proposed C Share Issue

HSBC Infrastructure Company Limited
02 April 2008



HSBC Infrastructure Company Ltd (the 'Company' or 'HICL')



Proposed C Share Issue

The Company is pleased to announce that the Board of HICL is intending to raise
additional equity capital by means of an issue of C shares (the 'Issue'). The
proposals are for a Placing and Offer for Subscription to raise up to £145
million. The proceeds of the Issue will enable the Company to pay down existing
debt and allow the Company to grow the portfolio by pursuing new investment
opportunities to be funded by draw down of the Company's £200 million debt
facilities.

Since the Company was launched in March 2006, the portfolio has delivered strong
capital growth and a progressive dividend, both ahead of the original guidance
issued in March 2006. The Directors believe that the Company will continue to
meet its investment objectives and provide shareholders with long term
distributions, at levels that are sustainable, and to preserve the capital value
of the investment portfolio with potential for capital growth.

The Company has received indications of interest for the proposed C Share Issue
from both existing shareholders and prospective new investors.

Dresdner Kleinwort and Oriel Securities will act as joint Placing Agents to the
Issue.

Full details of the issue will be announced later this month, with completion
expected to occur prior to the release of HICL's preliminary results on 28 May 
2008.


Recovery of withholding tax

In the Company's Interim Management Statements of 11 February 2008, it was noted
that discussions with Her Majesty's Revenue & Customs were continuing in
relation to recovering withholding tax. These discussions have now, as expected,
been satisfactorily concluded.


For further information please contact:

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

Dresdner Kleinwort Limited
Dominic Waters 020 7475 6688
Robbie Robertson 020 7475 6674
David Yovichic 020 7475 7144

Oriel Securities Limited 020 7710 7600
Tom Durie
Emma Ormond

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
(HSFML), whose infrastructure investment team has been successfully investing in
infrastructure projects since 1997. HSFML is part of HSBC Specialist
Investments, the infrastructure and real estate investment arm of the HSBC
Group, and is authorised and regulated by the Financial Services Authority.



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