Australian Infrastructure Fund Ltd. : Notice of Annual General Meeting/Proxy Form

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: 10

12 December 2012

2012 Annual General Meeting and General Meeting (AGM)

Attached is the 2012 Notice of Annual General Meeting of Australian Infrastructure Fund Limited and

General Meeting of Australian Infrastructure Fund Trust (collectively AIX) sent to securityholders.

The AGM will be held on Tuesday 15 January 2013 commencing at 10:00am (AEDT) at the Park Hyatt

Melbourne, 1 Parliament Square, off Parliament Place, Melbourne, Victoria.

The AGM will be followed immediately by the General Meetings of Australian Infrastructure Fund Limited and Australian Infrastructure Fund Trust (the EGM) to consider the Proposed Transaction involving the sale of AIX's assets and the return of funds to securityholders.

The Australian Securities & Investments Commission granted AIX an extension of time to hold the AGM so that it could take place on the same day as the EGM, provided that the date was prior to 31 January 2013 and outside of the holiday period.

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.

12 December 2012

Hastings Funds Management Limited

ABN 27 058 693 388

AFSL No. 238309

Australian Infrastructure Fund Limited

ABN 97 063 935 553

All correspondence to:

Computershare Investor Services Pty Limited

GPO Box 2975 Melbourne

Victoria 3001 Australia

Enquiries

(within Australia) 1300 662 010 (outside Australia) 61 3 9415 4107

www.investorcentre.com/contact www.hfm.com.au

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000

1301011221012102012221332120133322113

SAM

MR SAM SAMPLE FLAT 123

123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

Dear Securityholder,

Australian Infrastructure Fund Annual General Meeting and EGM

On behalf of the directors of Australian Infrastructure Fund Limited and Hastings Funds Management Limited as responsible entity of the Australian Infrastructure Fund Trust (together referred to as "AIX"), we are pleased to enclose information for the AIX securityholder meetings to be held at the Park Hyatt Melbourne, 1 Parliament Square, off Parliament Place, Melbourne on Tuesday 15 January, 2013.

The first meeting, which will commence at 10:00am (AEDT), will be Australian Infrastructure Fund Limited's Annual General Meeting and will be held concurrently with the General Meeting of the unitholders of Australian Infrastructure Fund Trust (the AGM). This will be followed immediately by the Extraordinary General Meetings (EGM) to consider the Proposed Transaction.

The following documents are enclosed with this letter:

AGM Notice of Meeting	Explains the AGM resolutions, including how to vote
AGM Proxy Form (white coloured form)	Allows you to vote on the AGM resolutions without attending the meeting in person
Explanatory Booklet	Explains the Proposed Transaction in detail, including how to vote
EGM Proxy Form (blue coloured form)	Allows you to vote on the EGM resolutions for the Proposed Transaction without attending the meeting in person

Proposed Transaction

The EGM is being held to allow securityholders to consider a proposal to sell all of AIX's assets and then return substantially all of AIX's cash reserves, including the net proceeds of the asset sale, to securityholders. The enclosed Explanatory Booklet explains the proposal and contains information material to securityholders in making an informed decision on how to vote on the resolutions required to implement the Proposed Transaction. A copy of the Independent Expert's Report prepared by Grant Samuel & Associates, which concludes that the Proposed Transaction is fair and reasonable to and in the best interests of AIX Securityholders (in the absence of a superior proposal) is also contained in the Explanatory Booklet.

You should read the Explanatory Booklet in full before deciding how to vote on the Proposed Transaction. If you are in any doubt as to what action you should take, you should seek financial, tax or other professional advice. If you have any questions about 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).

How to vote

If you are attending the AGM and EGM, please bring this letter with you to assist with registration.

If you are unable to attend the meetings, we ask you to complete the enclosed proxy forms. The proxy forms should be returned in the envelopes provided or faxed to our registry, Computershare Investor Services on 1800 783 447 (within Australia) or [phone] (outside Australia).

Alternatively, the proxy forms can be completed electronically, by visiting www.investorvote.com.au and following the instructions provided. Note that a proxy cannot be appointed online under power of attorney or similar authority.

The last time for receipt of the AGM proxy form is 10:00am (AEDT) on Sunday 13 January 2013. The last time for receipt of the EGM proxy form is 10.30am (AEDT) on Sunday 13 January 2013.

Refreshments will be provided following the meetings and the directors will be available to talk with you about AIX.

Yours sincerely,

Paul Espie

Chairman

Australian Infrastructure Fund Limited

Alan Cameron AO Chairman

Hastings Funds Management Ltd

Notice of Meetings and Explanatory Notes to Securityholders

Australian Infrastructure Fund Limited ABN 97 063 935 553 and
Australian Infrastructure Fund Trust ARSN 089 889 761
Notice is given that the Annual General Meeting of Australian Infrastructure Fund Limited ("Company") will be held together with a concurrent General Meeting of the unitholders of Australian Infrastructure Fund Trust ("Trust") (collectively, "AIX") at the Park Hyatt Melbourne, 1 Parliament Square, off Parliament Place, Melbourne, Victoria 3002, on Tuesday 15 January 2013 at 10:00 am (AEDT) ("Meetings").

Items of Business

Financial Report - Company and Trust

1 To receive and consider the Financial Report and the Reports of the Directors and the Auditor for the financial year ended 30 June 2012.

Election of Directors - Company only

To consider and, if thought fit, pass the following as an ordinary resolution of the Company:
2 "That John Harvey, who retires by rotation in accordance with rule 35(c) of the Company Constitution and, being eligible, be re-elected as a Director."
3 "That Paul Espie, who retires by rotation in accordance with rule 35(c) of the Company Constitution and, being eligible, be re-elected as a Director."

Remuneration Report - Company only

To consider and, if thought fit, pass the following as an ordinary resolution of the Company:
4 "That the Remuneration Report for the financial year ended 30 June 2012 be adopted." Note: The vote on this resolution is advisory only and does not bind the Directors or the Company.
By order of the Boards of Australian Infrastructure Fund Limited and Hastings Funds Management Limited as
Responsible Entity for Australian Infrastructure Fund Trust.

Jane Frawley
Company Secretary
Australian Infrastructure Fund Limited and
Hastings Funds Management Limited as Responsible Entity for Australian Infrastructure Fund Trust
12 December 2012
Page 1 of 4

Voting Exclusions Statement

Item 4 (Remuneration Report)

Item 4 is a resolution that is directly or indirectly related to the remuneration of a member of the Key Management Personnel (KMP) of the Company. The Corporations Act 2001 (Cth) (Corporations Act) restricts KMP and their closely related parties from voting in their own right and/or as proxies in certain circumstances in respect of such resolutions.
Closely related party is defined in the Corporations Act and includes a spouse, dependant and certain other close family members, as well as any companies controlled by KMP.
In accordance with the requirements of the Corporations Act, the Company will disregard any votes cast on Item 4 (in any capacity) by a member of the KMP (including each of the directors named in the Company's Remuneration Report) or a KMP's closely related party, unless the vote is cast by a person as proxy for a person entitled to vote in accordance with a direction on the proxy form or by the Chairman where he has been expressly authorised to do so.

Voting entitlements

Pursuant to applicable legislation and regulations, the Directors have determined that the securityholding of each securityholder for the purpose of ascertaining the voting entitlements for the Meetings will be as appears in the AIX Security Register at 7.00pm (AEDT) on Sunday 13 January 2013.
1 Securityholders may only vote their shares in relation to resolutions being put to shareholders of the
Company, and may only vote their units in relation to resolutions being put to unitholders of the Trust.
2 A securityholder entitled to attend and vote has a right to appoint a proxy to attend and vote instead of the securityholder. Securityholders who are unable to attend the Meetings are encouraged to appoint a proxy to attend and vote on their behalf. A proxy holder need not be a securityholder.
A securityholder who is entitled to cast two or more votes may appoint up to two proxy holders and may specify the proportion or number of votes each proxy holder is appointed to exercise. If there is no proportion or number specified, each proxy holder may exercise half of the votes. On a show of hands, a proxy holder may not vote if more than one proxy holder attends.
3 A form of appointment of proxy is enclosed. To be effective, the document appointing the proxy holder (and if the appointment is signed or executed by the appointor's attorney, the authority under which the appointment was signed or a certified copy of the authority), must be received by AIX by
10:00 am (AEDT) on Sunday 13 January 2013. The documents should be delivered to AIX's registry:
Computershare Investor Services Pty Limited
Yarra Falls
452 Johnston Street
Abbotsford
Victoria 3067
Postal address: GPO Box 242
Melbourne
Victoria 3001
Facsimile: 1800 783 447 (Within Australia) or [phone] (Outside Australia)
Electronically, by visiting www.investorvote.com.au and following the instructions provided but a proxy cannot be appointed online if appointed under power of attorney or similar authority.
For Intermediary Online Subscribers only (custodians) please visit www.intermediaryonline.com to submit your voting intentions.
4 If you wish to appoint a different proxy holder to vote on your behalf in relation to your units in the Trust from the proxy holder you appoint to vote on your behalf in relation to your shares in the Company, or if you wish to direct your proxy holder to vote differently in respect of your units than in respect of your shares (regarding resolutions on which both shares and units are able to be voted), please contact AIX's registry to obtain another proxy form:
Computershare Investor Services Pty Limited
Telephone: [phone] (Within Australia) or [phone] (Outside Australia)
Page 2 of 4
5 A body corporate that is a securityholder, or that has been appointed as a proxy of a securityholder, may appoint an individual to act as representative at the Meetings. The appointment must comply with the requirements of section 250D and 253B of the Corporations Act. The representative should bring to the Meetings evidence of his or her appointment, including the authority under which the appointment is signed, unless that evidence has previously been given to AIX.
6 Securityholders can direct their proxy how to vote by following the instructions on the applicable proxy form. Securityholders are encouraged to direct their proxy how to vote on each item of business. Securityholders should note that if they appoint a member of the KMP (which includes each of the directors of the Company) as proxy, the KMP will not be able to cast the securityholder's
votes on Item 4 unless the securityholder directs them how to vote or the Chairman of the Meeting is the securityholder's proxy. If a securityholder appoints the Chairman of the Meeting as their proxy or the Chairman of the Meeting is appointed as the member's proxy by default, but the securityholder does not mark a voting box for Item 4, the securityholder will be taken to have expressly authorised the Chairman of the Meeting to vote in favour of Item 4 (adoption of the Remuneration Report).
7 Any directed proxies that are not voted on a poll at the Meetings by a securityholder's appointed proxy will automatically default to the Chairman of the Meetings, who is required to vote proxies as directed on a poll.
8 Please refer to other notes appearing on the applicable proxy form.

Explanatory Notes to Securityholders

These Explanatory Notes form part of and must be read in conjunction with the accompanying Notice
of Annual General Meeting of Australian Infrastructure Fund Limited and concurrent General Meeting of unitholders of Australian Infrastructure Fund Trust.

Item 1 - Financial Report - Company and Trust

AIX has prepared and will table at the Meetings the consolidated financial report of the Company and the
Trust and its controlled entities for the year ended 30 June 2012.
Securityholders are not required to vote on the Financial Report and the Reports of the Directors and Auditor. However, securityholders will be given a reasonable opportunity as a whole to raise questions, or make comments, on the reports at the Meetings.
Securityholders will also be given a reasonable opportunity to ask a representative of AIX's auditor questions about the conduct of the audit, the preparation and the content of the Auditor's Report, the accounting policies adopted in relation to the preparation of financial statements and the independence of the auditor in relation to the conduct of the audit.

Directors of the Company following the EGM

At general meetings (referred to as the "EGM") of AIX securityholders held following these concurrent Meetings, securityholders will consider a number of resolutions, the details of which are set out in the Explanatory Booklet accompanying this Notice of Meetings. The Explanatory Booklet describes the proposal that AIX sell all of its assets and return substantially all of AIX's cash reserves (including the net proceeds
of the asset sale) to securityholders. AIX intends to distribute its cash reserves to securityholders in the form of a main return in late April 2013 and a smaller residual return targeted for late June 2013, but in any case expected to be paid no later than 31 December 2013. AIX will subsequently apply to be delisted and commence a voluntary winding-up process.
In the event that securityholders approve the inter-conditional resolutions put to them at the EGM, the current Directors of the Company, subject to the re-election of directors of the Company at the AGM, propose to remain on the Board of the Company until the payment of the main return to securityholders in late April 2013.
Following the payment of the main return to securityholders, it is currently proposed that James Evans, Robert Humphris and Robert Tsenin will retire as Directors of the Company.
Paul Espie, Michael Hutchinson and John Harvey currently propose to remain as Directors of the Company until the residual return is paid to securityholders, which is targeted for late June 2013.
In the event that AIX securityholders do not vote in favour of each of the inter-conditional resolutions at the
EGM, the Directors currently propose to continue as Directors of the Company until they advise otherwise.
Page 3 of 4

Item 2 - Election of Director - Company only

The resolution to elect John Harvey as a Director of the Company is an ordinary resolution requiring the support of a majority of the votes cast by shareholders.
John Harvey, BJuris, LLB, FCA was first appointed a non-executive Director in July 1994. John was appointed a member of the Audit Committee in July 2004 and has been Chairman of the Audit Committee since August 2004. John is a non-executive and independent director.
John had a 25-year career with PricewaterhouseCoopers culminating in the Chief Executive role from 1996
to 2000. During his career with the firm John advised many national and multinational companies on taxation and accounting matters. John was Chief Executive of the Mt Eliza Business School from 2001 to 2004. John is presently a Director of Australia Pacific Airports Corporation Limited, David Jones Limited and Chairman of the Audit Committee and Chairman of Federation Square Pty Ltd.

The Directors (other than Mr Harvey) unanimously recommend that securityholders approve the resolution. The Chairman of the Meetings intends to vote all available proxies in favour of this item of business.

Item 3 - Election of Director - Company only

The resolution to elect Paul Espie as a Director of the Company is an ordinary resolution requiring the support of a majority of the votes cast by shareholders.
Paul Espie was first appointed a non-executive director in June 1994 and Chairman in August 2004. Paul was appointed a member of the Audit Committee in August 2004. Paul is a non-executive and independent director.
Paul founded Pacific Road Corporate Finance, an adviser to governments and companies in the resources, infrastructure and services sectors in 1986. Paul was previously Senior Vice President of Bank of America
in Australia, New Zealand and Papua New Guinea and has held other corporate and investment banking roles in England and the US. Paul founded Pacific Road Capital, a manager of private equity funds in the resources and services sectors in 2006. Paul is a fellow of the Australian Institute of Company Directors.

The Directors (other than Mr Espie) unanimously recommend that shareholders approve the resolution. The Chairman of the Meetings intends to vote all available proxies in favour of this item of business.

Item 4 - Remuneration Report - Company only

The management of AIX are employed and remunerated by Hastings Management Pty Ltd. The Company has no involvement in determining the remuneration of those employees. Accordingly, the Remuneration Report contained in the Annual Report for the year ended 30 June 2012 sets out the remuneration policy of the Company and reports remuneration arrangements in place for the non-executive directors only. The report is set out on pages 44 to 45 of the Annual Report.
The fees paid to the non-executive directors are set by the Board with the assistance of the Remuneration Committee, which take into account independent professional advice, benchmarking analysis, the time commitment required and risks associated with discharging the duties of a director and the level of remuneration necessary to attract and retain directors of a suitable calibre.
The remuneration of non-executive directors is not linked to the performance of AIX, so as to ensure that the directors maintain their independence and impartiality.
A reasonable opportunity will be provided for discussion of the Remuneration Report at the Meetings. The shareholder vote is advisory only and does not bind the Company. However, the Board will take into consideration the discussion on this resolution and the outcome of the vote when considering the remuneration policy of the Company.
A voting exclusion applies to this item of business, as set out in the Notice of Meetings.

The Directors unanimously recommend that shareholders approve the resolution. The Chairman of the Meetings intends to vote all available proxies in favour of this item of business.

Page 4 of 4

Australian Infrastructure Fund (AIX)

Hastings Funds Management Limited

ABN 27 058 693 388

AFSL No. 238309

Australian Infrastructure Fund Limited

ABN 97 063 935 553

MR JOHN SAMPLE FLAT 123

123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

Lodge your vote:

g Online:

www.investorvote.com.au

B By Mail:

Computershare Investor Services Pty Limited

GPO Box 242 Melbourne

Victoria 3001 Australia

Alternatively you can fax your form to (within Australia) 1800 783 447 (outside Australia) [phone]

For Intermediary Online subscribers only

(custodians) www.intermediaryonline.com

For all enquiries call: (within Australia) 1300 132 288 (outside Australia) [phone]

Proxy Form - Annual General Meeting and General Meeting

Vote online or view the annual report, 24 hours a day, 7 days a week:

www.investorvote.com.au

Cast your proxy vote

Your secure access information is:

Control Number: 123456

Access the annual report

SRN/HIN: I1234567890

PIN: 123456

Review and update your securityholding

U PLEASE NOTE: For security reasons it is important that you keep your

SRN/HIN confidential.

U For your vote to be effective it must be received by 10.00am (AEDT) Sunday 13 January 2013

How to Vote on Items of Business

All your securities will be voted in accordance with your directions.

Appointment of Proxy

Voting 100% of your holding: Direct your proxy how to vote by marking one of the boxes opposite each item of business. If you do not mark a box your proxy may vote as they choose (except in relation to Item 4 where you have appointed a member of the key management personnel of Australian Infrastructure Fund Limited or one of their closely related parties as your proxy, in which case there are additional voting restrictions explained in the Notice of Meeting). If you mark more than one box on an item your vote will be invalid

on that item.

Voting a portion of your holding: Indicate a portion of your voting rights by inserting the percentage or number of securities you wish

to vote in the For, Against or Abstain box or boxes. The sum of the votes cast must not exceed your voting entitlement or 100%. Appointing a second proxy: You are entitled to appoint up to two proxies to attend the meeting and vote on a poll. If you appoint two proxies you must specify the percentage of votes or number of securities for each proxy, otherwise each proxy may exercise half of the votes. When appointing a second proxy write both names and the percentage of votes or number of securities for each in Step 1 overleaf.

A proxy need not be a securityholder of AIX.

Proxy voting by key management personnel

The key management personnel of Australian Infrastructure Fund Limited (which includes each of the Directors) will not be able to vote as your proxy on Item 4 unless you direct them how to vote or, if the Chairman of the Meeting is (or becomes) your proxy, you expressly authorise him to vote as he sees fit on Item 4 by leaving the boxes opposite Item 4 blank.

Signing Instructions for Postal Forms Individual: Where the holding is in one name, the securityholder must sign.

Joint Holding: Where the holding is in more than one name, all of

the securityholders should sign.

Power of Attorney: If you have not already lodged the Power of Attorney with the registry, please attach a certified photocopy of the Power of Attorney to this form when you return it.

Companies: Where the company has a Sole Director who is also the Sole Company Secretary, this form must be signed by that person. If the company (pursuant to section 204A of the Corporations Act 2001) does not have a Company Secretary, a Sole Director can also sign alone. Otherwise this form must be signed by a Director jointly with either another Director or a Company Secretary. Please sign in the appropriate place to indicate the office held. Delete titles

as applicable.

Attending the Meeting

Bring this form to assist registration. If a representative of a corporate securityholder or proxy is to attend the meeting you will need to provide the appropriate "Certificate of Appointment of Corporate Representative" prior to admission. A form of the certificate may be obtained from Computershare or online at www.investorcentre.com under the information tab, "Downloadable Forms".

Comments & Questions: If you have any comments or questions for AIX, please write them on a separate sheet of paper and return with this form.

GO ONLINE TO VOTE,

or turn over to complete the form

MR JOHN SAMPLE FLAT 123

123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

Change of address. If incorrect, mark this box and make the

correction in the space to the left. Securityholders sponsored by a broker (reference number commences with 'X') should advise your broker of any changes.

Annual General Meeting and

*I1234567890*

I 1234567890 I N D

Proxy Form - General Meeting

Please mark to indicate your directions

STEP 1

Appoint a Proxy to Vote on Your Behalf XX

I/We being a member/s of Australian Infrastructure Fund hereby appoint

the Chairman OR

of the Meeting

U PLEASE NOTE: Leave this box blank if you have selected the Chairman of the Meeting. Do not insert your own name(s).

or failing the individual or body corporate named, or if no individual or body corporate is named, the Chairman of the Meeting, as my/our proxy to act generally at the Meetings on my/our behalf and to vote in accordance with the following directions (or if no directions have been given, as the proxy sees fit, subject to the voting restrictions set out in the Notice of Meeting) at the Annual General Meeting of Australian Infrastructure Fund Limited to be held concurrently with the General Meeting of Australian Infrastructure Fund Trust at the Park Hyatt Melbourne, 1 Parliament Square, off Parliament Place, Melbourne Victoria on Tuesday, 15 January 2013 at 10.00am (AEDT) and at any postponement or adjournment of these Meetings.

Chairman authorised to exercise undirected proxies on remuneration related resolutions: Where I/we have appointed the Chairman of the Meeting as my/our proxy (or the Chairman of the Meeting becomes my/our proxy by default), I/we expressly authorise the Chairman of the Meeting to exercise my/our proxy on Item 4 (except where I/we have indicated a different voting intention below) even though Item 4 is connected directly or indirectly with the remuneration of a member of key management personnel of the Company which includes the Chairman.

Important Note for Item 4: If the Chairman of the Meeting is your proxy or is appointed as your proxy by default

If you wish to give the Chairman of the Meeting specific voting directions on Item 4, you should mark the appropriate box opposite Item 4 in Step

2 below (directing the Chairman of the Meeting to vote 'for', 'against' or to 'abstain' from voting). If you have appointed the Chairman of the Meeting as your proxy (or the Chairman of the Meeting becomes your proxy by default), and you do not mark a box opposite Item 4, you are expressly authorising the Chairman of the Meeting to vote in favour of Item 4.

STEP 2 Items of Business

UPLEASE NOTE: If you mark the Abstain box for an item, you are directing your proxy not to vote on your behalf on a show of hands or a poll and your votes will not be counted in computing the required majority.

Item 2

Item 3

To re-elect Mr John Harvey as a Director of the Company (Company only)

To re-elect Mr Paul Espie as a Director of the Company (Company only)

Item 4

To adopt the Remuneration Report for the financial year ended 30 June 2012 (Company only)

The Chairman of the Meetings intends to vote all available proxies in favour of each item of business.

SIGN Signature of Securityholder(s) This section must be completed.

Individual or Securityholder 1 Securityholder 2 Securityholder 3

Sole Director and Sole Company Secretary Director Director/Company Secretary

Contact

Name

Contact

Daytime / /

Telephone Date

A I X 1 5 1 0 5 1 A

12 December 2012

Hastings Funds Management Limited

ABN 27 058 693 388

AFSL No. 238309

Australian Infrastructure Fund Limited

ABN 97 063 935 553

All correspondence to:

Computershare Investor Services Pty Limited

GPO Box 2975 Melbourne

Victoria 3001 Australia

Enquiries

(within Australia) 1300 662 010 (outside Australia) 61 3 9415 4107

www.investorcentre.com/contact www.hfm.com.au

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000

1301011221012102012221332120133322113

SAM

MR SAM SAMPLE FLAT 123

123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

Dear Securityholder,

We have been trying to contact you in connection with matters arising from your securityholding in Australian Infrastructure Fund (AIX). Unfortunately, our correspondence has been returned to us marked "Unknown at the current address". For security reasons we have flagged this against your securityholding which will exclude you from future mailings, other than notice of meetings.

We value you as a securityholder and request that you supply your current address so that we can keep you informed about AIX. Where the correspondence has been returned to us in error we request that you advise us of this so that we may correct our records.

You are requested to include the following;

> Security Reference Number (SRN);

> ASX trading code;

> Name of company in which security is held;

> Old address; and

> New address.

Please ensure that the notification is signed by all holders and forwarded to our Share Registry at: Computershare Investor Services Pty Limited

GPO Box 2975

Melbourne Victoria 3001

Australia

Note: If your holding is sponsored within the CHESS environment you need to advise your sponsoring participant (in most cases this would be your broker) of your change of address so that your records with CHESS are also updated.

Yours sincerely,

Jane Frawley

Company Secretary

Australian Infrastructure Fund Limited

and Hastings Funds Management Limited