£13.9 Million Investment Commitments/Completions

GCP Infrastructure Investments Limited

(the "Company")

£13.9 million Investment Commitments / Completions

8 August 2012

The Company is a closed-ended investment company that seeks to generate returns from subordinated infrastructure debt and related and/or similar assets (the "Target Assets"). The Company achieves this by investing substantially all of its capital in GCP Infrastructure Fund Limited (the "Master Fund"), an open-ended investment company that holds the Target Assets. The Company is the majority shareholder of the Master Fund. The Company and the Master Fund are advised by Gravis Capital Partners LLP (the "Investment Adviser").

The Board of Directors of the Company is pleased to announce that on 7 August 2012 the Master Fund executed the last of a series of four loan notes with an aggregate value of c. £13.9 million (the "Notes"), c. £6 million of which is a commitment to advance a loan secured on a senior basis against a portfolio of c. 1,000 domestic solar panel installations, while the remaining c. £7.9 million comprises three loans secured on a subordinated basis against portfolios of UK PFI assets primarily in the healthcare and education sectors.

The weighted average yield on the Notes is 9.46 per cent. per annum on an annualised basis, with a weighted average expected life of 24.8 years.

The acquisition of the Notes has been (and in relation to the commitment, will be) financed fully from available cash reserves.