Valuation and Dividend

HSBC Infrastructure Company Limited
23 April 2008


              HSBC Infrastructure Company Limited (the 'Company')


                        Dividend and Portfolio Valuation


HSBC Infrastructure Company Limited is pleased to announce a second interim
distribution of 3.2 pence for the financial year ended 31 March 2008, which
brings the total distribution for the 2008 financial year to 6.25 pence per
share (an increase of 2.5% over the total distribution of 6.1 pence for the
financial year to 31 March 2007). The second interim distribution of 3.2 pence
per share will be payable on 23 May 2008 to shareholders on the register as at 2
May 2008.


The Directors have approved valuation of the Group's Portfolio as at 31 March
2008 of £437.9 million. This portfolio valuation compares to £384.1 million as
at 30 September 2007 (up 14.0%) and £250.4 million at the time of listing.


Based on this valuation the Net Asset Value per share on an investment basis as
at 31 March 2008 is expected to be approximately 123 pence.


Full year results will be announced on 28 May 2008.


The Company has separately announced today a C share issue of up to £145
million. A prospectus is being sent to shareholders explaining the proposed
issue in more detail and advising that the latest date for receipt of
applications for the Placing and Offer for Subscription is 15 May 2008.


For further information, please contact:

HSBC Specialist Fund Management Limited              [phone]
Tony Roper
Keith Pickard
Sandra Lowe

M: Communications                                    [phone]
Ed Orlebar
Tilly von Twickel







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