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News Releases

$150 Million of Senior Secured Floating Rate Medium Term Notes Issued by 407 International Inc.

Toronto, November 20, 2006

407 International Inc. announced today that it has agreed to issue $150 million principal amount of Senior Secured Floating Rate Notes, Series 06 A2, due November 23, 2007, through its $1.8 billion Medium Term Notes program in an underwritten bought deal with BMO Nesbitt Burns Inc. The distribution of the Notes, which will bear interest at the 3-month BA rate plus 0.05%, is scheduled to close on or about November 22, 2006.

Net proceeds of approximately $149,850,000, together with other available funds, will be used to repay the $150 million principal amount of Senior Secured Floating Rate Medium-Term Notes, Series 04 A1, maturing on November 22, 2006.

407 International Inc. is the sole shareholder, operator and manager of 407 ETR, which extends 108 kilometres east-west, just north of Toronto. 407 International Inc. is owned by a consortium comprised of Cintra Concesiones de Infraestructuras de Transporte, Macquarie Infrastructure Group and SNC-Lavalin.

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For more information, contact:


Kenneth A. Walker
Chief Financial Officer
Tel: 905-265-4070


Dale A. Albers
Manager, Public Relations
Tel: 905-264-5221

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