Auckland Airport placed on CreditWatch negative

17 March 2008

Standard & Poor's has placed Auckland Airport's 'A / A-1' credit ratings on CreditWatch with negative implications following the announcement last Friday that the Canada Pension Plan Investment Board's partial takeover offer has received shareholder approval.

A copy of the press release from Standard & Poor's is attached.

Auckland Airport remains committed to maintaining a prudent financial position and a strong credit rating. Among other things, the company recently completed a $550 million refinancing to repay debt maturing later this year, to increase access to committed funding and to provide additional funding for the company's on-going capital expenditure programme.

For further information, please contact:

Robert Sinclair
Chief Financial Officer
Tel: +64 09 256 8129