Placing of Shares

NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR TO U.S. PERSONS (WITHIN THE MEANING OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED).

26 March 2014

John Laing Investments Limited ("JLIL" or "the Seller") - sale of shares in John Laing Infrastructure Fund Ltd ("JLIF")

John Laing Investments Limited announces its intention to sell up to 34,451,806 ordinary shares in the share capital of JLIF (representing 4.5 per cent. of JLIF's issued share capital as at the date of this Announcement).

The Placing is being conducted through an accelerated bookbuild offering process which will be launched immediately following this Announcement. A further announcement will be made following completion of the bookbuild and pricing of the Placing.

JLIL has appointed J.P. Morgan Securities plc (which conducts its UK investment banking business under the name J.P. Morgan Cazenove) to act as sole bookrunner in relation to the Placing.

For further information, please contact:

 J.P. Morgan Cazenove 020 7742 4000

Christopher Nicholls

Edward Gibson-Watt

RLM Finsbury 020 7251 3801

Faeth Birch

Philip Walters

This Announcement does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for shares in any jurisdiction. In particular, this Announcement is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Canada, Australia, Japan, South Africa or any other jurisdiction where local law or regulations may result in a risk of civil, regulatory, or criminal exposure or prosecution if information or documentation concerning the Placing or this Announcement is sent or made available to a person in that jurisdiction (a "Restricted Jurisdiction"), or to any resident of the United States, Canada, Australia, Japan, South Africa or any other Restricted Jurisdiction or to any U.S. Person as defined in Regulation S of the US Securities Act of 1933, as amended (the "Securities Act"). Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. 

This Announcement does not constitute a recommendation concerning the Placing. All investments are subject to risk, including the loss of the principal amount invested. Past performance is no guarantee of future returns. You should always seek expert legal, financial, tax and other professional advice before making any investment decision. This Announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements include, without limitation, statements typically containing words such as "believes", "considers", "intends", "expects", "anticipates", "targets", "estimates", "will", "may", or "should" and words of similar import.

By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. Certain important factors could cause actual results or outcomes to differ materially from those expressed in forward-looking statements. Given these risks and uncertainties, potential investors should not place undue reliance on forward-looking statements as a prediction of actual results. 

J.P. Morgan Securities plc, which conducts its UK investment banking business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove") is authorised by the Prudential Regulation Authority and regulated in the United Kingdom by the Prudential Regulation Authority and Financial Conduct Authority, is acting exclusively for JLIL and is not advising any other person or treating any other person as its customer in relation to the Placing or to the matters referred to in this Announcement and will not be responsible to anyone other than JLIL for providing the protections afforded to clients of J.P. Morgan Cazenove or for affording advice in relation to the Placing.

This Announcement which has been prepared by JLIL is issued by J.P. Morgan Cazenove for the purposes of section 21 Financial Services and Markets Act 2000. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility is or will be accepted by J.P. Morgan Cazenove or by any of its affiliates or agents as to, or in relation to, the accuracy and completeness of this Announcement or any other written or oral information made available publicly to any interested party or its advisers, and any liability therefor is expressly disclaimed.