12 May 2008

EASTLINK TO OPEN ON 29 JUNE - FIVE MONTHS EARLY

ConnectEast, the owner and operator of EastLink, yesterday confirmed to the Victorian Government that it will deliver the $2.5 billion motorway on 29 June 2008 – on-budget and five months ahead of time.

To celebrate the completion of this landmark Public Private Partnership project and to encourage motorist familiarisation, ConnectEast announced the first four weeks of operation will be toll-free.

ConnectEast also revealed plans to host a community open day on Sunday 15 June to give people a once-in-a-lifetime chance to walk, run or cycle on the road before it opens to traffic.

Managing Director, John Gardiner, said the opening of EastLink (and the untolled Ringwood Bypass) well ahead of the 30 November contract date demonstrated the capacity of the private sector to accelerate the delivery of massive projects.

“Over the life of this construction ConnectEast has averaged $59 million expenditure per month, including five consecutive months when expenditure exceeded $100 million,” Mr Gardiner said.

“This demonstrates the capacity of the private sector, with the support of government, to harness all the necessary resources to make big infrastructure projects a reality in the shortest possible time.

“EastLink is already generating an economic and population boom in Melbourne’s outer east and south-east, with businesses and residents re-locating to make the most of the motorway.

“EastLink will mean safer driving plus time and fuel savings every day for many thousands of Victorians. The road will revolutionise the lives of people living and working in Melbourne’s eastern and south-eastern suburbs by providing a high- quality uninterrupted north-south transport corridor from Mitcham to Frankston.

“With the cheapest car tolls of any private tollroad in Australia, motorists will have a new, affordable travel option – one that allows them to bypass congestion and

For personal use only use personal For many dozens of traffic lights on local roads.” …/2

ConnectEast Management Limited (CEML), a wholly owned subsidiary of Macquarie Group Limited (ABN 94 122 169 279) (Macquarie), is the responsible entity of ConnectEast Investment Trust (CEIT) and ConnectEast Holding Trust (CEHT). CEIT and CEHT are the registered managed investment schemes which comprise ConnectEast Group. CEML is not an authorised deposit taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and its obligations 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 CEML.

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Mr Gardiner said ConnectEast was proud of the high quality finish and urban design of EastLink and was offering a four week toll-free period so that as many people as possible could experience first-hand the motorway and the benefits it will provide.

“We think it is fair that motorists are able to ‘try before they buy’. EastLink is not only a 39km stretch of road; it is a showcase of urban design and architecture, landscaping, new wetlands, walking and cycling paths and artworks.”

Mr Gardiner said the installation, testing and verification process for EastLink's vital traffic management and safety systems had now entered its final phase. “The commissioning process for the mechanical, electrical and computer systems that govern safety along the entire motorway, and particularly in EastLink’s twin 1.6km tunnels, is tracking well but it cannot be rushed,” he said.

EastLink is a fully electronic tollway which uses a distance-based tolling system with 13 toll points in each direction. The cost of car trips on EastLink will range from 33 cents for many single sections, up to just under $5 for a full 39km trip.

“ConnectEast’s customer service operations, including our 24/7 call centre in Mount Waverley, our EastLink.com.au website and our shops in five shopping centres along the EastLink corridor, are already up and running.”

Customers will be able to open one of our Breeze tag accounts from 9 June. Once the toll-free period ends, motorists will need an electronic tag, a non-tag account or a trip pass to use EastLink. If motorists already have a tag it will work on EastLink – they do not need to do anything.

Mr Gardiner paid tribute to the ConnectEast team, its contracted builder Thiess John Holland and their workforce, and the State Government agency overseeing the project, the Southern and Eastern Integrated Transport Authority (SEITA), for their combined efforts to achieve the early opening.

ConnectEast will host a community open day – the EastLink Road Show – on Sunday 15 June.

“We encourage people to visit us to see for themselves the many impressive elements that make EastLink such a unique piece of infrastructure,” Mr Gardiner said.

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EASTLINK – FAST FACTS

ƒ Australia’s largest urban road project ƒ Melbourne's second fully-electronic free-flow tollroad ƒ Lowest tolls for cars per kilometre for any private tollroad in Australia ƒ Full interoperability with all other Australian tollroads, including CityLink ƒ 39km in length, with 17 interchanges and 88 bridges ƒ Twin, three-lane 1.6km tunnels under the Mullum Mullum Creek – Melba (inbound) and Mullum Mullum (outbound) ƒ Connects the Eastern Freeway in Melbourne's outer east to the Frankston Freeway in the south east ƒ Project also delivered 6km of untolled connecting roads (Ringwood and Dandenong Bypasses) ƒ $2.5 billion construction cost ƒ Direct freeway to freeway connections at: o Eastern Freeway o Monash Freeway o Frankston Freeway ƒ Three lanes in each direction for 33km (Eastern Freeway to Thompson Road ) ƒ Two lanes in each direction for 6km (Thompson Rd to Frankston Freeway) ƒ Around 7 million cubic metres of earthworks ƒ 2 million square metres of roadway, more than 1 million tonnes of asphalt laid ƒ Over 13,000 noise wall panels installed ƒ More than $50 million spent on landscaping - around 3.6 million native trees and shrubs planted ƒ 35km of new bicycle and walking tracks - the EastLink Trail ƒ $20 million to enhance four rail stations in EastLink corridor ƒ $5.5 million for public artwork – largest commitment to art on an Australian road project ƒ Around 60 wetlands created for local wildlife and to treat water run-off ƒ Several local creeks and waterways reinvigorated ƒ Estimated $15 billion boost to Victoria’s gross state product ƒ EastLink tipped to create 6,500 jobs, including 2,300 in the EastLink corridor For personal use only use personal For ƒ For more information visit: EastLink.com.au

PROJECT PARTIES

ConnectEast Group

ƒ The owner and operator of EastLink, with a contract with the Victorian Government to operate and maintain the motorway until 2043 ƒ Responsible for the financing, design, construction, maintenance and operation of EastLink ƒ ConnectEast (CEU) listed on the ASX in November 2004 ƒ More than 30,000 investors, with over half living in Victoria ƒ Employs more than 300 people, including many locals ƒ Corporate headquarters based in Ringwood at the EastLink Operations Centre (ELOC) ƒ Have established a 24 hour call centre at Mount Waverley ƒ Five EastLink shops already open in local shopping centres – Dandenong Plaza, Knox City, Bayside (Frankston), Box Hill and Chadstone ƒ Customer service centre located at ELOC ƒ More information available at ConnectEast.com.au

Thiess John Holland

ƒ Thiess John Holland contracted by ConnectEast to design and construct EastLink ƒ Thiess John Holland is an unincorporated joint venture between Thiess Pty Ltd and John Holland Pty Ltd – two of Australia’s largest construction and engineering companies and part of the Leighton Holdings Group ƒ More information available at www.thiessjohnholland.com.au

SEITA

ƒ The Southern and Eastern Integrated Transport Authority (SEITA) was established to manage EastLink on behalf of the Victorian Government ƒ SEITA managed the selection of the private sector bids and now oversees the State’s ongoing interests in EastLink ƒ More information available at www.seita.com.au

Independent Reviewer

ƒ Jointly appointed by SEITA and ConnectEast to provide the necessary assurance that the project design and construction meets specified standards ƒ A consortium involving Sinclair Knight Mertz and Davis Langdon Australia, supported by Maunsell Australia ƒ The Independent Reviewer will certify the completion of all works before the road

is open to traffic For personal use only use personal For

Project History

1960s Land reserved for the proposed Scoresby Freeway as part of planning for Melbourne’s outer suburban road network.

1998 VicRoads prepares an environmental effects statement (EES) to determine the impact of the new road on the surrounding environment.

2003 – May Government calls for expressions of interest from the private sector to deliver the Mitcham-Frankston Freeway project as a public-private partnership (PPP) and creates the Southern and Eastern Integrated Transport Authority (SEITA) to oversee the bid and construction phases.

2004 – October ConnectEast announced as the winning bidder for the Mitcham- Frankston Project (MFP); awarded a Concession Deed to build and operate the tollway for 39 years.

2004 – November ConnectEast (CEU) listed on the Australian Securities Exchange.

2005 – March First sod turned at Ferntree Gully Road, major construction underway. Project renamed EastLink.

2007 – May Victorian Government passes legislation ensuring motorists only need one tag to drive on both EastLink and CityLink.

2007 – December Dandenong Bypass opens to traffic 12 months early.

2008 – March Melba (inbound) and Mullum Mullum (outbound) nominated as the names for the 1.6km EastLink twin tunnels.

2008 – June EastLink to open. For personal use only use personal For

EASTLINK CUSTOMER PRODUCTS AND PRICES

ConnectEast will offer a range of customer tolling products. Breeze tag and non-tag accounts and EastLink trip passes will cater for different needs and will be available from a number of different outlets.

Motorists who already have a tag will be able to use it on EastLink.

A Breeze tag account can be opened from Monday 9 June. Non-tag accounts and EastLink trip passes will be available when EastLink opens.

Products Features Breeze tag account • Generally the cheapest way to use EastLink • Breeze tags work on all tollways in Australia • Designed for the more frequent user • New, small tag design exclusive to Breeze; easy to use holder • Single $40 account opening, which is a pre-payment to the account and allows you to get a tag for each of your vehicles • $25 top-up when account falls to less than $10 • No minimum annual usage (1) payment for car tags • Detailed quarterly statements issued at no cost to customers • Available at EastLink.com.au, by phoning 13 LINK, at EastLink shops (2) and the EastLink customer service centre (3) • Post paid accounts for business only Breeze non-tag • Designed for the infrequent user and also for motorcyclists who account do not require a tag • $40 account opening pre-payment • $25 top-up when account falls to less than $10 • An image processing fee of 23 cents for each trip on EastLink in addition to the toll (image processing fee waived for motorcycles) • Also works on CityLink • No minimum annual usage payment • Detailed quarterly statements issued at no cost to customers • Available at EastLink.com.au, by phoning 13 LINK, at EastLink shops (2) and the EastLink customer service centre (3) • Post paid accounts for business only EastLink trip pass • Designed for occasional user (every couple of months) • Each EastLink trip pass pays for a single trip on EastLink in one direction within a one-hour period • Current costs: $2.49 for a motorcycle, $4.96 for a car, $7.94 for a light commercial vehicle, $13.16 for a heavy commercial vehicle • Purchase can be before or up to three days after your trip • Each EastLink trip pass is valid for travel up to 6 months from date of purchase. Unused trip passes are not refundable or transferable. • You can buy more than one EastLink trip pass at the same time, For personal use only use personal For and you won’t need to specify dates of travel

• An additional fee of $2.37 applies if purchased at an over the counter location (including EastLink shops (2), the EastLink customer service centre (3), Australia Post offices, and Bill EXPRESS newsagents). This fee can be avoided when buying trip passes online at EastLink.com.au, by phoning 13 LINK, or at Bill EXPRESS self-service kiosks in Coles Express outlets. • EastLink trip passes won’t work on CityLink. CityLink passes won’t work on EastLink.

(1) Minimum annual usage amount for each commercial vehicle tag is $20 in EastLink tolls for each of the first three years after the tag is issued (2) EastLink shops are located at Bayside (Frankston), Box Hill, Chadstone, Dandenong Plaza and Knox City (3) The EastLink Customer Service Centre is at 2 Hillcrest Avenue, Ringwood

Toll Prices for cars (4)

From To Cost Weekends Weekday and Public trips Holidays restricted to with 20% a single toll discount zone Springvale Rd Ringwood $2.28 $1.82 $2.28 (no Bypass discount applies) Maroondah Hwy Canterbury Rd $0.33 $0.26 $0.26 Canterbury Rd Boronia Rd $0.33 $0.26 $0.26 Boronia Rd Burwood Hwy $0.33 $0.26 $0.26 Burwood Hwy High Street Rd $0.33 $0.26 $0.26 High Street Rd Ferntree Gully $0.50 $0.40 $0.40 Rd Ferntree Gully Rd Wellington Rd $0.50 $0.40 $0.40 Wellington Rd Police Rd $0.50 $0.40 $0.40 Monash Fwy Princes Hwy $0.50 $0.40 $0.40 Princes Hwy Cheltenham Rd $0.50 $0.40 $0.40 Dandenong Bypass Greens Rd $0.50 $0.40 $0.40 Greens Rd Thompson Rd $1.16 $0.92 $0.92 Thompson Rd Frankston Fwy $1.16 $0.92 $0.92 Toll Cap Maximum $4.96 $3.97 Not applicable amount for a single trip

(4) Toll prices include GST and are valid from 1 July 2008 to 30 June 2009. Prices shown do not include the additional image processing fee (23 cents per trip), which applies when traveling in a vehicle without a valid tag or trip pass.

Toll prices change each year with CPI on 1 July. For personal use only use personal For