JLIF Statement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR

FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE

RELEVANT LAWS OF THAT JURISDICTION

1 December 2014

JLIF STATEMENT REGARDING THE BALFOUR BEATTY PPP PORTFOLIO

Further to recent press speculation, John Laing Infrastructure Fund Ltd ("JLIF") confirms that today it is making a non-binding proposal, subject to due diligence, to the Board of Balfour Beatty plc for its PPP Portfolio (the "Portfolio") for approximately GBP1bn in cash.Since its IPO in 2010, JLIF has proven itself as a leading London-listed infrastructure fund investing in low risk, operational infrastructure assets and therefore believes it would be an ideal owner of the Portfolio.Following due diligence and in the event agreement is reached to purchase the Portfolio, JLIF would seek to finance the acquisition largely via an equity capital raise of ordinary shares, as with its previous acquisitions.A further announcement will be made when appropriate.

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