In accordance with section 2.10.3 of the Informative Prospectus of the Public Offering for the Subscription and Sale of the shares of CINTRA CONCESIONES DE INFRAESTRUCTURAS DE TRANSPORTE, S.A. (hereinafter, the Offer and CINTRA, respectively), filed with the official registries on the National Securities and Exchange Commission on October 8, 2004, the following is communicated:
1.Maximum Retail Price for the Offer
At the date hereof CINTRA, Macquarie Infrastructure (Luxembourg) and the Global Coordinators have fixed by mutual agreement the Maximum Retail Price for the Offer in Euro 8.80 per share. This is the maximum price that the investors of the Retail Tranche and the Institutional Tranche will pay for each share of CINTRA allotted to them.
The Maximum Retail Price will be taken into account, where appropriate, for the purposes of the pro-rata distribution in the Retail Tranche and in the Employee Tranche in accordance with the rules set forth in section 2.12.4 of the Informative Prospectus.
Fixing of the final price of the shares in each Tranche of the Offer will take place on October 25, 2004 and will be the subject of a new Additional Information to the Informative Prospectus of the Offering.
2. Reallocation of shares between Tranches
As of the date hereof there has not been any reallocation of the shares initially allocated to each of the Tranches of the Offer, which therefore maintain the same size set forth in the Informative Prospectus of the Offering. Nevertheless, it is stated that the number of shares allocated to each of the Tranches may be modified pursuant to the reallocation rules set forth in section 22.214.171.124 of the aforementioned Prospectus.
The final volume of shares allocated to the Retail Tranche and to the Employee Tranche of the Offer will be determined no later than October 23, 2004, and the definitive volume of shares allocated to the Institutional Tranches of the Offer will be determined no later than October 26, 2004. The final allocation of shares to each Tranche of the Offer will be the subject of a new Additional Information to the Prospectus.
3.Execution of the Agreement for Underwriting and Distribution of the Retail Tranche
The Agreement for Underwriting and Distribution of the Retail Tranche of the Offer has been signed as of the date hereof, and there has been no variation in the Underwriters which signed the Protocol Agreement for Underwriting and Commitment to Distribute the Retail Tranche of the Offer on October 6, 2004.
4. Current Status of the demand in the different Tranches of the Offer
According to the information provided by the Joint Global Coordinators of the Offer, the demand registered in each of the Tranches of the Offer to the date hereof (October 19, 2004) once finished the Period for presentation of Mandates for Purchase/Subscription in the Retail Tranche and in the Employee Tranche, has been the following:
1. Retail Tranche: In the Retail Tranche a total of 235,064 Purchase/Subscription Mandates have been presented, amounting to Euro 1,354.1. This implies that the Retail Tranche presents, on the date hereof, a demand equivalent to 2.3 times the number of shares allocated to this Tranche (69,741,965 shares), taking into account the average price of the indicative and non-binding price range established for the Offer (8.52 euros per share).
It is expressly stated that the Mandates for Purchase/Subscription presented in this Tranche may be revoked up to 2:30 p.m. on October 22, 2004. The retail investors could also present Request for Purchase/Subscription of a binding nature during the Period for Public Offer, which will begin at 8:30 a.m. on October 20, 2004 and end at 2:30 p.m. on October 22, 2004, although this Requests may be totally disregarded as a result of the priority given in the pro-rata distribution to petitions originating from unrevoked Mandates for Purchase/Subscription.
2.Employee Tranche: In the Employee Tranche a total of 290 Purchase/Subscription Mandates have been presented, amounting to Euro 1.95. This implies the Employee Tranche presents, on the date hereof a demand equivalent to 1.2 times the number of shares allotted to this Tranche (186,476 shares), taking into account the average price of the indicative and non-binding price range established for the Offer (8.52 euros per share).
It is expressly stated that it is no longer possible to place Petitions for Purchase/Subscription in the Employee Tranche, due to the fact that the petitions in this Tranche must be necessary based on Mandates for Purchase/Subscription (the placing period of which has ended at 2:30 p.m. today). Nevertheless, the Mandates for Purchase/Subscription presented in this Tranche may be revoked until 2:30 p.m. on October, 2004.
3.Institutional Tranches: The demand registered in the Spanish Institutional Tranche and in the International Tranche amounts to a total of Euro 959 million, which implies that the Institutional Tranches have, upon the date hereof, a demand equivalent to 0.965 times the number of shares assigned to them (116,547,400 total shares), taking into account the average price of the indicative and not binding Price Range fixed for the Offer (8.52 euros per share).
It is expressly stated that this is a provisional piece of information which may not be representative of the final result of the allotment in these Tranches, due to the fact that:
(i) the Book-building Period in the Institutional Tranches is still open, and will extend until October 22, 2004;
(ii) the institutional investors tend normally to concentrate their Proposals for Purchase in the last few days of the Book-building Period; and
(iii) the Proposals for Purchase only represent suggestions of interest of the potential investors for the offered shares, although they are not definitive offers for the acquisition of CINTRA shares. The confirmation of the binding Purchase Proposals, which will be of a binding nature, will only take place subsequent to the fixing of the Institutional Price of the Offer, which is expected to take place on October 25, 2004. Specifically, the confirmation of the Purchase Proposals will end at 8:30 a.m. on October 26, 2004.
For and on behalf of CINTRA CONCESIONES DE INFRAESTRUCTURAS
DE TRANSPORTE, S.A.
Mr. Lucas Osorio Iturmendi / Mr. David Stephen Harrison
For and on behalf of MACQUARIE INFRASTRUCTURE (LUXEMBOURG), S.A.
Mr. David Stephen Harrison