Global Infra Partners takes 25% stake in CCT

Chennai, India, 28 June 2007 -- Global Infrastructure Partners ("GIP"), a private equity firm focused on global infrastructure asset investments, announced today that it has agreed to acquire, through its International Port Holdings ("IPH") portfolio company, a 25% interest in Chennai Container Terminal Private Limited ("CCT").

CCT is a state-of-the art facility located within Chennai Port on the South East Coast of India, serving the strategically-important trade route between Europe and the Far East. CCT is the leading container terminal on India's east coast and the second largest private container terminal in India overall by traffic volume. Since its opening in 2001, CCT's volume has grown at a compounded annual rate of 18.7%, making it the second fastest growing container terminal in the country.

Adebayo Ogunlesi, Chairman and Managing Partner of Global Infrastructure Management, LLC, commented: "We are delighted that one of our first emerging market investments is in such a high growth, high quality asset within India's manufacturing hub. CCT provides a significant opportunity to gain a foothold in one of the most promising areas in the port sector, and the facility itself offers tremendous potential for further development. This investment significantly advances our global strategy of adding well-run port operating assets to GIP's IPH portfolio."

CCT was built and developed by P&O Ports and is now operated by Dubai Ports World, which holds the remaining 75% interest in CCT.

The Transaction is conditional on obtaining regulatory clearance from the Government of India and approval from the Chennai Port Trust. The financial terms of the transaction were not disclosed.