Acquisition of Three PFI/PPP Projects for £30.5m

19 January 2012

John Laing Infrastructure Fund

Acquisition of Three PFI/PPP Projects for £30. 5 million

John Laing Infrastructure Fund, the international PPP/PFI infrastructure investment company, is pleased to announce it has completed the acquisition of stakes in three social housing PFI/PPP projects from United House Group, the social housing specialist, for £30.5 million.

These projects add to JLIF's existing portfolio of social housing assets, fit well within the overall portfolio and meet the Group's criteria for acquisitions. The three projects are availability-based projects that have contracted government-backed revenue streams, linked to inflation, and provide JLIF with a low risk, stable income. Two of the projects have been operational for over 3 years and the other project is 95% operational with the balance due for early completion in January 2012. The assets have been valued using a discount rate in line with the valuation of other similar assets already within the portfolio, and have a projected net return, in line with JLIF's stated target.

The acquisitions are being funded by cash.

The Projects are:

·; 50% stake in Camden - a round 1 Housing PFI Pathfinder Project;

·; 45% stake in Islington I - a refurbishment and 30-year management and maintenance contract for 2,348 properties;

·; 45% stake in Islington II - a refurbishment and 16-year management and maintenance contract of 4,124 properties.

Andrew Charlesworth, JLIF Investment Adviser, commenting on today's announcement:

"This is a rare opportunity to acquire one of the largest housing portfolios in the UK PFI market. We are an experienced operator of social housing projects, and these three high quality projects, located in the heart of London's prime real estate market, are operationally mature, with minimal retained risk and stable cash flows and match our appetite for low risk, high yielding assets."David Marshall, JLIF Investment Adviser, commenting on today's announcement:

"We are delighted that today JLIF has completed a further third party acquisition, which, together with our right of first offer agreement with John Laing Group, reinforces our confidence in the strength of our pipeline and our ability to benefit from the many opportunities we see in our markets."

Contacts:

JLIF Investment Adviser Tel: 020 7901 3326

David Marshall

Andrew Charlesworth

RLM Finsbury Tel: 020 7251 3801

Faeth Birch

Philip Walters