Scrip Dividend Circular

Documents for Inspection

HICL Infrastructure Company Limited (the 'Company')

Scrip Dividend Circular

A copy of the above document has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.do.

The reference price of a new ordinary share under the scrip dividend alternative for the year to 31 March 2012 interim dividend has been set at 120.0p. This is the average of the middle market prices of the Company's shares derived from the London Stock Exchange Daily Official List for the ex-dividend date and the four subsequent dealing days. The final date for receiving elections on the scrip is 12 June 2012.

Copies of the document have been mailed to shareholders and can also be obtained from the Company Secretary or from the Investor Relations section of the Company's website, at www.hicl.com

For further information, please contact:

Dexion Capital (Guernsey) Limited +44(0) 1481 743940

Christopher Copperwaite

Gillian Newton

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