HOCHTIEF AirPort acquires further Sydney Airport shares

HOCHTIEF AirPort GmbH has stepped up its shareholding in Sydney Airport by 2.77 percent to give it 8.13 percent as from March 20, 2007. Together with the investment partnership HOCHTIEF AirPort Capital (HTAC), the company now holds a total of 13.27 percent in Australia‘s biggest airport. The HTAC interest is 5.15%. The purchase price for the newly acquired shares is AUD 122 million (EUR 73 million). The stock acquisition will make an immediate positive contribution to the revenues and returns of HOCHTIEF AirPort and HOCHTIEF.

After taking over the British airport operator BAA in June 2006, the Spanish construction and infrastructure company, Ferrovial, decided to dispose of some of its other interests. These included its 20.9 percent stake in Sydney Airport. In acquiring the shares, HOCHTIEF AirPort is exercising to the full its pro rata preferential purchase rights.

Sydney Airport is one of the commercially most successful airports and has for years been posting steadily growing passenger figures. In FY 2006, it handled 29.1 million travelers and with EBITDA of AUD 524 million (EUR 322 million) achieved its best-ever result. "Sydney is a highly profitable airport and thus a valuable constituent of our airport portfolio. So we are very gladly taking advantage of the opportunity to increase our shareholding", says Dr. Peter Noé, member of the Executive Board with responsibility for the HOCHTIEF Group‘s airport business, explaining the decision to purchase the additional stock. With the purchase, HOCHTIEF is also systematically pursuing its corporate strategy of further growth in operator business.

For further information on our shareholding Sydney Airport please click here.

HOCHTIEF is one of the leading international providers of construction-related services. With more than 41,000 employees and a sales volume of EUR 13.65 billion in FY 2005, the company is represented in all the world‘s major markets. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner. With its Group company Leighton, HOCHTIEF is market leader in Australia. The HOCHTIEF service offering in the fields of development, construction, services, concessions and operation covers the entire value chain of real estate, facilities and infrastructure projects. Further information is available at www.hochtief.com/press.

HOCHTIEF AirPort bundles the airport management business of international construction services group HOCHTIEF. Founded in 1997, HTA participates in airport privatizations and acquires airport concessions. It currently has stakes in the airports of Athens, Düsseldorf, Hamburg, Sydney and Tirana. In March 2005, together with three financial partners, the company launched the first investment partnership in the airport sector. For further information go to www.hochtief-airport.com.