REG-Macquarie Korea I F: Financial Close of the Investment in BNP2-3

MACQUARIE KOREA INFRASTRUCTURE FUND
FINANCIAL CLOSE OF THE INVESTMENT IN
BUSAN NEW PORT PHASE 2-3

21 January 2008 - Macquarie Korea Infrastructure Fund ("MKIF") today announced
that it has reached financial close on its recently announced investment in
Busan New Container Terminal ("BNCT"), the concessionaire of the Busan New Port
Phase 2-3 Project. MKIF is scheduled to contribute a total of KRW 259.4 billion
in BNCT in the form of equity and subordinated debt during the construction
period. After satisfying all conditions precedent to drawdown, KRW 12.85
billion was advanced to BNCT today as part of the equity contribution.

Busan New Port Phase 2-3 is a key part of a national priority project, Busan
New Port, intended to meet future demand driven by Busan's position as a
regional shipping and logistics hub. Construction is expected to take
approximately 48 months with the target operation commencement in early 2012.

For further information, please contact:

Jason Pak Jae Lee

Investor Relations Investor Relations

Macquarie Korea Infrastructure Fund Macquarie Korea Infrastructure Fund

+ 82 2 3705 8550 + 82 2 3705 8533

+ 82 17 745 1965 + 82 11 9870 1891

This release is not an offer for sale of the securities of Macquarie Korea
Infrastructure Fund(`MKIF') in the United States or in any jurisdiction where
any offer, sale or solicitation in respect of such securities is not permitted.
Securities may not be offered or sold in the United States absent registration
or an exemption from registration under the U.S. Securities Act of 1933, as
amended, or in any jurisdiction where such offer or sale is not permitted. MKIF
does not intend to register any portion of any contemplated offering in the
United States or to conduct a public offering of securities in the United
States.

Not for distribution in the United States or in any jurisdiction where any
offer, sale or solicitation in respect of the contemplated securities is not
permitted.

This document is only being distributed to and is only directed at (i) persons
who are outside the United Kingdom or (ii) investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other
persons to whom it may lawfully be communicated, falling within Article 49(2)
(a) to (d) of the Order (all such persons together being referred to as
"relevant persons"). Any securities will only be available to, and any
invitation, offer or agreement to subscribe, purchase or otherwise acquire any
securities will be engaged in only with, relevant persons. Any person who is
not a relevant person should not act or rely on this document or any of its
contents.

MKIF or Macquarie Shinhan Infrastructure Asset Management Co., Ltd. is not an
authorised deposit-taking institution for the purposes of the Banking Act 1959
(Commonwealth of Australia). The obligations of this entity do not represent
deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542
(MBL). MBL does not guarantee or otherwise provide assurance in respect of the
obligations of these entities.

Investments in MKIF are subject to investment risk, including possible delays
in repayment or loss of income and/or capital investment. Neither MKIF, nor any
member of the Macquarie Bank Group, including MSIAM, guarantees the performance
of MKIF, the repayment of capital or the payment of a particular rate of return
on MKIF securities.

2

Macquarie Korea Infrastructure Fund

WS: 40674_1

Macquarie Korea Infrastructure Fund

11th Floor Hanwha Bldg Telephone (82 2) 3705 8500
110 Sogong-dong Facsimile (82 2) 3705 8555
Chung-gu, Seoul Internet www.macquarie.com/mkif
100-755 Korea

Macquarie Bank Limited

ABN 46 008 583 542

No.1 Martin Place Telephone (61 2) 8232 3333 Money Market 8232 3600 Facsimile
8232 4227
Sydney NSW 2000 Facsimile (61 2) 8232 7780 Foreign Exchange 8232 3666 Facsimile
8232 3019
GPO Box 4294 Telex 122246 Metals and Mining 8232 3444 Facsimile 8232 3590
Sydney NSW 1164 Internet www.macquarie.com.au Futures 9231 1028 Telex
72263
DX 10287 SSE Debt Markets 8232 3815 Facsimile 8232 4414
SWIFT MACQAU2S

END