Portfolio Update

1 July 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 30 June 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:

* 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.