PRE-CLOSE UPDATE

JOHN LAING GROUP plc

PRE-CLOSE UPDATE

John Laing Group plc ("John Laing" or "the Group"), the international originator, active investor and manager of infrastructure projects, today issues a pre-close update for the year ending 31 December 2015.

Highlights

· Total investment commitments to date of £170 million*, at upper end of £150m-£175m range announced at interims

· Realisations to date of £86 million*, compared to full year target of approximately £100 million

· Henderson 62.6% shareholding distributed to underlying institutions in early October

Investment Activity

· International Primary Investment activities continuing as planned and in line with recent guidance, with increasing levels of bidding activity in our core markets of Europe, North America and Asia Pacific

· Investment commitments since 30 June 2015:

o Cramlington CHP plant (UK): investment commitment of £27 million in September 2015

o I-77 managed lanes PPP project (North Carolina, USA): investment commitment of £16.5 million in December 2015

o Three onshore wind farm investment commitments totalling £53.6 million in Australia, Germany and France.

· Further potential investments in progress.

Realisations

· Four investments sold in first half for proceeds of £54.1 million for returns in line with historical average. Realisations since 30 June 2015 for total proceeds of £32.2 million, at prices above portfolio valuation:

o Burton Wold onshore wind farm (100% holding) sold to JLEN for £21.8 million (before costs) in December 2015

o Other: Branden Solar Parks (36% holding), Cleveland Firearms (27% holding) and NH3 Road India (36% holding) sold for total of £10.4 million

· Further realisations in progress, with target date for signing before or around year end.

Investment Portfolio

· Major projects under construction progressing according to schedule: three trains are now undergoing testing on the UK rail network for Phase 1 of the Intercity Express Programme

· Operational projects performing in line with expectations

· Five investments have moved from the primary to the secondary investment portfolio in the year to date (Manchester Waste VL Co, Manchester Waste TPS Co, Auckland South Corrections Facility, Oldham Housing and Dungavel Wind Farm)

Outlook

· John Laing remains well positioned in a growing market for new infrastructure driven by population growth, urbanisation and climate change

*See Appendix for detailed breakdown

· Strong pipeline of new investment opportunities in PPP, renewable energy and some other closely-linked infrastructure sectors, spread across Europe, North America and Asia Pacific

· Market for disposal of secondary infrastructure investments remains strong

Olivier Brousse, John Laing's Chief Executive, said:

"As we approach the end of the year, I am pleased to report that we are on track to achieve our full-year targets. During 2015, we have worked hard with key partners to take advantage of the many opportunities in new infrastructure projects in our core markets around the world and we are confident in our future prospects."

Further information

www.laing.com

Analyst/investor enquiries:

Olivier Brousse, Chief Executive +44 20 7901 3200

Patrick O'D Bourke, Group Finance Director +44 20 7901 3200

Tom Randell, Head of Investor Relations and Communications +44 20 7901 3200

Media enquiries:

James Isola, Maitland +44 20 7379 5151

Appendix: investment commitments and realisations year to date

JLIF = John Laing Infrastructure Fund

JLEN = John Laing Environmental Assets Group