Australian Infrastructure Fund Ltd. : Letter to securityholders regarding AIX AGM and EGM

Hastings Funds Management Limited ABN 27 058 693 388

AFSL No. 238309

Australian Infrastructure

Fund Limited

ABN 97 063 935 553

Level 27, 35 Collins Street Melbourne VIC 3000 Australia T [phone]

F [phone]

www.hfm.com.au

Melbourne, London, New York, Sydney

ASX Announcement

Australian Infrastructure Fund (AIX) Total pages: 2

9 January 2013

Letter to securityholders regarding AIX Annual General Meeting and

Extraordinary General Meeting

The attached correspondence regarding the AIX securityholder meetings, to be held at the Park Hyatt Melbourne, 1 Parliament Square (off Parliament Place) in Melbourne on Tuesday 15 January 2013, from 10am will be sent to AIX securityholders today.

For further enquiries, please contact:

Jeff Pollock

Chief Executive Officer

Australian Infrastructure Fund

Tel: [phone]

Fax: [phone]

Email: [e-mail]

Website: www.hfm.com.au

Jefferson Petch Company Secretary Australian Infrastructure Fund

Simon Ondaatje

Head of Investor Relations

Hastings Funds Management

Tel: [phone]

Fax: [phone]

Email: [e-mail]

Website: www.hfm.com.au

Unless otherwise stated, the information contained in this document is for informational purposes only. It does not constitute an offer of securities and should not be relied upon as financial advice. The information has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person or entity. Before making an investment decision you should consider, with or without the assistance of a financial adviser, whether any investments are appropriate in light of your particular investment needs, objectives and financial circumstances. Neither Hastings, nor any of its related parties including Westpac Banking Corporation ABN 33 007 457 141, guarantees the repayment of capital or performance of any of the entities referred to in this document and past performance is no guarantee of future performance. Hastings, as the Manager or Trustee of various funds, is entitled to receive management and performance fees.

T 000001 000 AIX MR SAM SAMPLE FLAT 123

123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

Hastings Funds Management Limited ABN 27 058 693 388

AFSL No. 238309

Australian Infrastructure

Fund Limited

ABN 97 063 935 553

Level 27, 35 Collins Street Melbourne VIC 3000 Australia T [phone]

F [phone]

www.hfm.com.au

Melbourne, London, New York, Sydney

9 January 2013

Dear AIX Securityholder

Australian Infrastructure Fund - Annual General Meeting and Extraordinary General Meeting

On behalf of the directors of Australian Infrastructure Fund Limited and Hastings Funds Management Limited as responsible entity for the Australian Infrastructure Fund (together referred to as "AIX"), we would like to remind you of the AIX securityholder meetings, to be held at the Park Hyatt Melbourne,

1 Parliament Square (off Parliament Place) in Melbourne on Tuesday 15 January 2013, from 10am.

The Extraordinary General Meeting, following immediately after the Annual General Meeting, is being held to allow securityholders to consider a proposal to sell AIX's assets to the Future Fund and then return substantially all of AIX's cash reserves, including the net proceeds of the asset sale, to securityholders ("Proposed Transaction"). We encourage all securityholders to consider the Proposed Transaction and to vote on the resolutions at the EGM. If you are unable to attend the meetings, we request that you vote on the resolutions by completing the applicable proxy forms. The last time for receipt of the proxy forms is 10.30am (AEDT) on Sunday 13 January 2013. Proxy forms should be faxed to our registry, Computershare Investor Services on 1800 783 447 (within Australia) or [phone] (outside Australia), or completed electronically at www.investorvote.com.au and following the instructions provided.

The Independent Directors for AIX unanimously consider that the Proposed Transaction is in the best interests of securityholders and recommend that AIX securityholders vote in favour of each of the resolutions required to implement the Proposed Transaction, in the absence of a superior proposal. AIX has not received a superior proposal to date.

If you have any questions about the AIX securityholder meetings or the Proposed Transaction, please call the AIX Information Line on 1800 606 449 (toll-free for calls made from within Australia) or [phone] (for calls made from outside Australia).

Yours sincerely

Paul Espie Alan Cameron AO

Chairman Chairman

Australian Infrastructure Fund Hastings Funds Management

Unless otherwise stated, the information contained in this document is for informational purposes only. It does not constitute an offer of securities and should not be relied upon as financial advice. The information has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person or entity. Before making an investment decision you should consider, with or without the assistance of a financial adviser, whether any investments are appropriate in light of your particular investment needs, objectives and financial circumstances. Neither Hastings, nor any of its related parties including Westpac Banking Corporation ABN 33 007 457 141, guarantees the repayment of capital or performance of any of the entities referred to in this document and past performance is no guarantee of future performance. Hastings, as the Manager or Trustee of various funds, is entitled to receive management and performance fees.

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