Result of Capital Raise

Result of Capital Raise

NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME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).

This Announcement is an advertisement and not a prospectus. This Announcement does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any shares in John Laing Infrastructure Fund Limited (the "Company" or "JLIF") or securities in any other entity, in any jurisdiction, including the United States, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction. This Announcement does not constitute a recommendation regarding any securities.

2 October 2012

 John Laing Infrastructure Fund Limited

Successful raising of £60.4 million to fund new PPP project acquisitions

On 7 September 2012, JLIF announced details of a proposed Issue of New Shares to fund the acquisition of a number of new projects. The Board of JLIF is pleased to announce today that the offer period for New Shares has now closed and that, on the basis of applications received through the Open Offer (and associated Excess Application Facility) and Offer for Subscription and orders taken through the Placing, 56,739,261 New Shares will be issued raising Gross Issue Proceeds of £60.4 million for the Company. The Issue was significantly oversubscribed, however, in accordance with the terms and conditions of the Issue, all applications made pursuant to Open Offer entitlements will be met in full.

The Net Issue Proceeds will be used to acquire two new projects and an additional stake in Forth Valely Royal Hospital (the "New Portfolio") from John Laing Group.

Application has been made for the 56,739,261 New Shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities with effect from 8.00 a.m. on Friday, 5 October 2012. Thereafter JLIF will have a total of 510,653,349 shares issued and outstanding.

Commenting on today's announcement, Paul Lester, Chairman of JLIF, said:

"We are pleased to have received strong demand for our fund raise and have once again achieved our targeted maximum. This was against the backdrop of ongoing uncertainty in the capital markets. Investors remain attracted to our proven, low-risk model offering a high, predictable dividend yields. We will be using the proceeds to acquire a new portfolio of three quality, operational, PPP assets, which meet JLIF's stated investment strategy."

Separately and further to the announcement made on 7 September 2012, John Laing Investments Limited has notified JLIF that it is placing up to 28,037,383 Existing Ordinary Shares in a separate secondary placing at not less than the Issue Price, being 106.5 pence per Ordinary Share. J.P. Morgan Cazenove has been appointed as sole bookrunner to the Placing which is expected to close over the course of 2 October 2012.

For further information, please contact:

John Laing Capital Management 020 7901 3326

David Marshall

Andrew Charlesworth

 J.P. Morgan Cazenove 020 7742 4000

Christopher Nicholls

Edward Gibson-Watt

RLM Finsbury 020 7251 3801

Faeth Birch

Philip Walters

Terms used in this Announcement shall have the same meanings as set out in the Prospectus published by the Company on 7 September 2012.

The contents of this Announcement, which have been prepared by and are the sole responsibility of the Company, have been approved solely for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000 by John Laing Capital Management Limited of 1 Kingsway, London WC2B 6AN United Kingdom ("JLCM").

JLCM is authorised and regulated in the United Kingdom by the FSA, and is acting exclusively for the Company and no-one else in connection with the Issue and will not regard any other person (whether or not a recipient of this Announcement) as a client in relation to the Issue and will not be responsible to anyone other than the Company for providing the protections afforded to its clients nor for giving advice in relation to the Issue, the contents of this Announcement, or any transaction or arrangements referred to in this Announcement.

Apart from the responsibilities and liabilities, if any, which may be imposed by FSMA or the regulatory regime established thereunder, none of JLCM or any of its respective affiliates or any of its directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this Announcement (or whether any information has been omitted from this Announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this Announcement or its contents or otherwise arising in connection therewith.

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, 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 Issue 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. 

The New Shares have not been, and will not be, registered under the Securities Act or under any of the relevant securities laws of any state of the United States. Accordingly the New Shares may not be offered, sold or delivered directly or indirectly in or into the United States. The New Shares have not been, and will not be, registered under any of the relevant securities laws of Canada, Australia, Japan or South Africa. Accordingly, unless an exemption under such act or laws is applicable, the New Shares may not be offered, sold or delivered directly or indirectly in or into Canada, Australia, Japan or South Africa.

This Announcement does not constitute a recommendation concerning the Issue. All investments are subject to risk, including the loss of the principal amount invested or to any U.S. Person. 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. 

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 Securities plc. (which conducts its UK investment banking business as 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.

J.P. Morgan Cazenove, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for the Company and is not advising any other person or treating any other person as its customer in relation to the Issue or to the matters referred to in this Announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of J.P. Morgan Cazenove or for affording advice in relation to the Issue.