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Auckland Airport Bond Issue Opens

Media Release
29 October 2009

Auckland International Airport Limited (Auckland Airport) today announced an offer of up to NZ$125 million bonds to the public, offering interested investors another opportunity to invest in an iconic kiwi long-term infrastructure business.

The offer opens today and is expected to remain open until 27 November 2009 or such earlier date as the offer is fully subscribed and will be available to both retail and institutional investors.

The interest rate on the bonds has been set at 7.00% p.a. and is fixed for the term of the bonds, which mature on 27 November 2014.

Auckland Airport chief financial officer, Simon Robertson, said that "Auckland Airport is pleased to return to the New Zealand bond market after the positive experience it has had with past issues. We are aware of considerable demand for well rated issuers such as Auckland Airport and we expect these bonds to be well received by the market."

The bonds are direct, unsecured, unsubordinated debt obligations of Auckland Airport and have been assigned a credit rating of “A-” by Standard & Poor’s.

Interest will be paid semi-annually, with the first interest payment date scheduled to occur on 27 May 2010.

ANZ, part of ANZ National Bank Limited has been appointed as Organising Participant and Joint Lead Manager to the offer and Goldman Sachs JBWere (NZ) Limited has been
appointed as Joint Lead Manager. ASB Securities Limited has been appointed as Co-Manager.

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Interested investors should contact the Joint Lead Managers, the Co-Manager, or their usual financial advisor to request a copy of the Investment Statement.*

* ANZ, a part of ANZ National Bank Limited: http://www.anz.co.nz/ipo; or *Goldman Sachs JBWere (NZ) Limited: http://www.gsjbw.co.nz; or
*ASB Securities Limited: http://www.asbsecurities.co.nz.

A Prospectus and Investment Statement are also available through Auckland Airport’s website: http://www.aucklandairport.co.nz/Corporate/Investors/Bond-Issue.

ANZ have confirmed that, from the total bonds allocated to them following the book-build process, a priority pool of $5 million in bonds has been set aside for existing Auckland Airport shareholders. Shareholders may take up bonds, up to a maximum of $50,000 per shareholder application from this priority pool. Auckland Airport shareholders interested in participating in this priority pool should contact ANZ for further details at the contact details set out above.

Application has been made to NZX for permission to list the bonds and all the requirements of NZX relating thereto that can be complied with on or before the date of distribution of this announcement have been duly complied with. However, the bonds have not yet been approved for trading and NZX accepts no responsibility for any statement in this announcement. NZX is a registered exchange under the Securities Markets Act 1988.

* Applications for Bonds can only be made using the application form included in the Investment Statement. No applications for Bonds issued by Auckland Airport will be accepted or money received unless the subscriber has received the Investment Statement for the offer. The minimum application amount in respect of the Bonds is $10,000 and in multiples of $1,000 thereafter.


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