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Auckland Airport sucessful completion of Institutional Bookbuild

Direct News Source

29-Jan-2010 Completion of Institutional Bookbuild

Auckland International Airport ("Auckland Airport") advises that it has successfully completed the institutional bookbuild component of its 1 for 16 fully underwritten entitlement offer ("Institutional Bookbuild"). This represents the second stage of Auckland Airport's approximately NZ$126.4 million equity raising, announced on 27 January 2010 ("Offer").

The Institutional Bookbuild was well supported, attracting bids from both new and existing New Zealand, Australian and international investors. The clearing price under the Institutional Bookbuild was NZ$1.91 per share. Therefore, institutional shareholders who elected not to take up their entitlements and ineligible institutional shareholders will receive NZ$0.26 for each new share not taken up.

Auckland Airport's Chairman, Tony Frankham, said the success of the Institutional Bookbuild demonstrated strong support for the company and he was pleased with value to be received by the few institutional shareholders who elected not to take up their entitlements and ineligible institutional shareholders.

The shares taken up under the Institutional Bookbuild are expected to be issued on 4 February 2010, and commence trading on the NZSX on 4 February 2010 and on ASX on 5 February 2010.

Retail Entitlement Offer

The retail component of the Offer ("Retail Entitlement Offer") will open on Tuesday, 2 February 2010 and will close on Thursday, 18 February 2010. Eligible retail shareholders will be able to subscribe for 1 new share for every 16 Auckland Airport shares held on the record date of 7pm (NZT) on 1 February 2010, at the same application price as the Institutional Entitlement Offer (NZ$1.65).

A prospectus will be sent to eligible retail shareholders by 2 February 2010 and is available on Auckland Airport's website (www.aucklandairport.co.nz). Eligible retail shareholders wishing to take up their entitlement to new shares under the Retail Entitlement Offer will need to complete the personalised Entitlement and Acceptance Form that will accompany the prospectus Eligible retail shareholders may choose to take up their entitlements in whole, in part or not at all. Shares not taken up by eligible retail shareholders and those which would otherwise have been offered to ineligible retail shareholders, will be offered for subscription to selected institutional investors through a Retail Bookbuild scheduled for 22 February 2010.

Retail shareholders who do not take up their entitlements or who are ineligible to participate in the Retail Entitlement Offer will receive any positive difference (which may be higher or lower than the NZ$0.26 achieved in the Institutional Bookbuild) between the Retail Bookbuild price and the application price for new shares of NZ$1.65 per new share.

Shareholders who have any queries about the Offer are encouraged to contact the Auckland Airport Offer Information Line on 0800 242 740 from within New Zealand or 1800 108 652 from within Australia.

Auckland Airport shares will continue in trading halt and are not expected to resume trading until market open on Tuesday, 2 February 2010. The Offer is fully underwritten by Credit Suisse (Australia) Limited and First NZ Capital Securities Limited.