TEXT-Infratil sells Luebeck Airport stake

(The following statement was released by the company)

WELLINGTON, Nov 2 - Infratil Limited announces that on Friday 30 October it exercised its put option in respect of its 90% shareholding in Luebeck Airport and ownership has transferred to the City of Luebeck.

When Infratil acquired this shareholding from the City in 2005 it also acquired a put option that allowed it to require the City to reacquire this shareholding if passenger numbers failed to reach an agreed threshold.

The exercise price of the put option is approximately Euro25.5 million (which converts, after existing foreign exchange contracts, to NZ$64 million), with payment due in early November.