Director Options Award

CityFibre Infrastructure Holdings plc

("CityFibre" or the "Company")

Director Options Award

CityFibre (AIM: CFHL), a leading designer, builder, owner, and operator of fibre optic infrastructure in UK towns and cities, announces that it has today issued 231,781 ordinary shares of 1 pence each in the capital of the Company (the "JSOP Shares") to Nedgroup Trust (Jersey) Limited (the "Trustee"), in its capacity as the trustee of the CityFibre Employee Benefit Trust. The JSOP Shares will be held by the Trustee for the joint benefit of itself and Stephen Charlton, Non-Executive Director, with Mr. Charlton being beneficially interested in any value in each of the JSOP Shares above 100p.

In addition, and pursuant to the terms of the Company's Non-Employee Joint Share Option Plan, the Company granted a cash award to Mr. Charlton that will deliver a cash payment to Mr. Charlton on the vesting and release of the JSOP Shares of an amount equivalent to 34 pence per JSOP Share (or, if less, the amount by which the prevailing price per ordinary share in the capital of the Company ("Ordinary Shares") exceeds 66 pence). The JSOP Shares will vest over a three year period commencing on 22 January 2015.

Following this transaction, Stephen Charlton has a beneficial interest in 231,781 Ordinary Shares, all of which are held by the Trustee on behalf of Mr. Charlton, representing approximately 0.22% of the Company's total voting rights.

The Company has applied for admission of the JSOP Shares to trading on the AIM Market of the London Stock Exchange ("Admission"). It is expected that Admission will occur and dealings will commence in the shares on 27 January 2015. The JSOP Shares will rank pari passu with the existing Ordinary Shares admitted to trading on AIM.

Following Admission the Company will have 105,672,644 Ordinary Shares in issue, all with voting rights. The Company does not hold any shares in treasury.

The above figure of 105,672,644 Ordinary Shares may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

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Notes to Editors:

About CityFibre:

CityFibre enables gigabit connectivity through designing, building, owning, and operating fibre optic network infrastructure. It is the largest independent provider of fibre infrastructure to mid-sized cities and major towns across the UK, providing gigabit-capable infrastructure for enterprise and public sector organisations, service providers, mobile network operators and businesses.

The Company owns and operates 490 route kilometres of local access networks serving over 800 customer locations in 60 towns and cities in the UK, including York, Coventry, Peterborough, Sheffield, Newcastle, Dundee, Bath, Derby and Doncaster.

To date the Company has launched four Gigabit City projects in York, Peterborough, Coventry and Aberdeen, where city-wide pure fibre networks known as 'COREs' following CityFibre's "Well-Planned City" design principles bring world-class Internet connectivity and the benefits of gigabit speeds to every aspect of the city's community.

CityFibre is also a proud member of a joint venture with TalkTalk and Sky. Established in early 2014, the collaboration aims to prove the viability of gigabit speed Fibre-to-the-Home (FTTH) and Fibre-to-the-Premises (FTTP) networks and services for homes and businesses. Trial work is currently underway to connect tens of thousands of homes and businesses in York to a future-proof FTTP modern digital infrastructure.

CityFibre is based in London, United Kingdom, and its shares trade on the AIM Market of the London Stock Exchange (AIM: CFHL).

To find out more, please visit: www.cityfibre.com