Macquarie update regarding BrisConnections

Macquarie Group Limited provides this update in relation to BrisConnections (ASX: BCSCA):

1. Macquarie Capital Group Limited¹ has today acquired 31,429,332 stapled units in BrisConnections. The units represent an 8.06% interest in BrisConnections.
2. Macquarie Bank Limited (MBL) has today paid a further principal amount of $92.5m to BrisConnections under the bridge facility previously agreed with the company.
3. Macquarie Capital Advisers Limited (MCAL) and MBL have today taken steps to initiate legal proceedings in the Supreme Court of Queensland to seek to ensure relevant parties fulfil their contractual obligations.

BrisConnections was awarded a 45 year concession to design, construct, operate, maintain and finance the Airport Link tollroad in Brisbane.

Stapled securities in BrisConnections are partly paid securities. There are two further instalments of $1.00 each per stapled security payable by 29 April 2009 and 29 January 2010, respectively.

The instalments are underwritten in accordance with an Underwriting Agreement dated 9 May 2008. Under the terms of the Underwriting Agreement, MCAL and Deutsche Bank AG, Sydney Branch each underwrite 50% of the instalments due by 29 April 2009 and 29 January 2010.

1. Acquisition has been undertaken by A.C.N. 136 024 970 Pty Ltd a subsidiary of Macquarie Capital Group Limited