Citi Infrastructure Investors, Abertis Infraestructuras and Criteria CaixaCorp Named Preferred Bidder on Pennsylvania Turnpike 75-Year Lease

Citi Infrastructure Investors (CII), a unit of Citi Alternative Investments, a division of Citi, was named the preferred bidder on the 75-year lease of the Pennsylvania Turnpike. The bid presented by the consortium led by CII, Abertis Infraestructuras and Criteria CaixaCorp, the main shareholder of Abertis, amounts to $12.8 billion, and is one of the largest public to private partnership initiatives undertaken in the United States. Execution of the concession agreement is subject to enabling legislation and the pertinent authorizations from the Pennsylvania General Assembly. CII and Abertis will have joint management control. "We are honored to be chosen to partner with the Commonwealth of Pennsylvania on this important project,” said Michael Froman, Managing Director and Partner of Citi Infrastructure Investors. "We look forward to working with Governor Rendell and his administration, the legislature, the Pennsylvania Turnpike Authority and its employees to create value for the Commonwealth and to serve the interests of those who live and work in Pennsylvania.” "This is a great day for Pennsylvania,” said Pennsylvania Governor Edward G. Rendell. "We urgently need new funding for road and bridge repair, and a turnpike lease will help us meet that need. Under the terms and conditions we set, the turnpike will be upgraded with tolls not higher than what the Turnpike Commission would charge under Act 44. Where Pennsylvanians will see a major difference is on our other roads. Road repair all over the state will accelerate because of the lease, and we will be able to cancel the plan to impose tolls on Interstate 80.” The $12.8 billion lease payment would be dedicated to road and bridge repair and support 73 public transit agencies across the state. By investing the money for the long term, the lease plan would generate annual payouts for transportation over the 75-year life of the lease. These payments would average 15 percent higher than the maximum available under the I-80 tolling plan, assuming investment returns equal to the average earnings of the Pennsylvania State Employee Retirement System over the past 20 years. The winning bid includes some of the world’s top investment and infrastructure companies. CII, a division of Citi, the leading global financial services company, invests in mature, core infrastructure assets largely in North America and Europe. On May 13, 2008, CII announced that it had entered into a partnership with the Vancouver Airport Authority to jointly pursue the sourcing, funding and maximization of potential airport opportunities through YVR Airport Services Ltd. (YVRAS). Under the terms of the agreement, CII will also acquire 50% of the shares of YVRAS and YVRAS will become CII’s exclusive platform for investing in airport assets. In November 2007, CII led a consortium in the purchase of Kelda, a Yorkshire (United Kingdom) water company. Abertis is one of the world’s largest private toll road operators. It manages directly a total length of more than 2000 miles of toll roads in 10 countries and four continents. Abertis already operates and manages several large infrastructure facilities in the United States, including Orlando Sanford Airport, Concourse E of Atlanta International Airport, and Burbank Airport, as well as the Teodoro Moscoso Toll Bridge in San Juan, Puerto Rico. "We are looking forward to developing a strong, long-term relationship with the Commonwealth, to providing good customer service to those who live and work in Pennsylvania and to implementing a robust operations, maintenance and capital expenditure program," added Juan Bejar, Co-Head and Partner of CII. About Citi Infrastructure Investors: Citi Infrastructure Investors (CII) is an investment center within Citi Alternative Investments (CAI), a division of Citi, which invests in mature, core infrastructure assets, largely in North America and Western Europe. Its focus is on securing high quality assets and providing pension funds, insurance companies and other institutional investors with an opportunity to invest to create long-term value. The team is comprised of some of the most experienced infrastructure investors and asset managers in the world, with broad and deep backgrounds in toll roads, airports, ports and utilities. Investments include the acquisition of Kelda, a Yorkshire (United Kingdom) water company and a joint venture with Vancouver Airport Services. About Citi: Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi’s major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com. About Abertis: Abertis Infraestructuras, who have been joined by their major shareholder Criteria CaixaCorp in this effort, engages in the management of transport and communications infrastructures in five segments: Toll road concessions, airports, car parks, logistics parks, and telecommunications. The company, based in Barcelona, Spain, has interests in 60 operating businesses in 17 countries on four continents with a U.S. presence in five airports. The company employs 12,000 globally and currently has more than 2,000 miles of toll roads under direct management on four continents.