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CPPIB regarding interested party announcement

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Response from CPP Investment Board to Auckland International Airport announcement regarding interested party

AUCKLAND, NZ (21 December 2007): The Canada Pension Plan Investment Board (CPPIB) welcomes AIAL’s decision to recommence seeking proposals from other parties, and reiterates its view that the process should be expedited.

“We question why the process isn’t recommencing immediately and why shareholders won’t know the substance of a counter-proposal before the expiry of the CPPIB offer,” said Graeme Bevans, Vice President and Head of Infrastructure for CPPIB.

“The company should be working in the best interests of shareholders to expedite this process so that shareholders have sufficient details of any competing proposal to be able to make an informed decision on the CPPIB offer,” said Bevans.

Bevans further stated, “The Board of Auckland International Airport has been seeking a new investor for many months. CPPIB is the only party to date to make an offer to shareholders. We are confident shareholders will see the merits in our offer and approve and accept it.”

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