RIGHT: AIA: Auckland Airport successful institutional offer

29 Jan 2010 9:36 am

AIA 29/01/2010 RIGHT

REL: 0936 HRS Auckland International Airport Limited

RIGHT: AIA: Auckland Airport successful institutional offer

29 January 2010

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO US PERSONS SUCCESSFUL COMPLETION OF INSTITUTIONAL ENTITLEMENT OFFER - OVER 99% TAKE-UP BY ELIGIBLE INSTITUTIONAL SHAREHOLDERS

Completion of Institutional Entitlement Offer

Auckland International Airport ("Auckland Airport") advises that it has successfully completed the institutional entitlement offer component ("Institutional Entitlement Offer") of its 1 for 16 fully underwritten entitlement offer ("Offer"). The Offer was announced on 27 January 2010, and will raise a total of approximately NZ$126.4 million.

The Institutional Entitlement Offer has raised gross proceeds of approximately NZ$69.4 million, and received overwhelming support from existing institutional shareholders, with over 99% of eligible institutional shareholders electing to take up their entitlements.

Auckland Airport's Chairman, Tony Frankham, said the success of the institutional component of the Offer demonstrated strong support for the company.

The shares taken up under the Institutional Entitlement Offer 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.

Institutional Bookbuild

As a result of the very strong support provided by shareholders in the Institutional Entitlement Offer, only a small number of shares are available for the institutional bookbuild component of the Offer, to be conducted by Credit Suisse and First NZ Capital on 29 January 2010. The vast majority of the shares in the Institutional Bookbuild relate to the Entitlements of ineligible institutional shareholders.

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 acquire 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 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.

For further information, please contact:

Richard Llewellyn Senior Communications Manager Auckland Airport +64 (0) 9 255 9089 +64 (0) 27 477 6120

IMPORTANT INFORMATION This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or to, or for the account or benefit of, any "U.S. person" (as defined in Regulation S under the U.S. Securities Act of 1933 (the "U.S. Securities Act")) ("U.S. Person"). Securities may not be offered or sold in the United States or to, or for the account or benefit of, U.S. Persons unless the securities have been registered under the U.S. Securities Act or an exemption from registration is available. The securities to be offered and sold have not been, and will not be, registered under the U.S. Securities Act, and may not be offered or sold in the United States or to, or for the account or benefit of U.S. Persons, unless the securities are registered under the U.S. Securities Act or an exemption from the registration requirements of the U.S. Securities Act is available. End CA:00190665 For:AIA Type:RIGHT Time:2010-01-29:09:36:24

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