Board’s Response to Auckland International Airport

CPP Investment Board’s Response to Auckland International Airport 31 October announcement

AUCKLAND, NZ (October 31, 2007): The Canada Pension Plan Investment Board (CPPIB) is disappointed with the Auckland International Airport Board's decision to cease discussions between the two organisations.

CPPIB believes that the detailed proposal that it presented to the AIAL Board on 20 September 2007 is in the best interests of AIAL stakeholders and, had it been accepted, would have resulted in the substantial recognition of value for all AIAL shareholders.

CPPIB is disappointed that the AIAL Board did not recommend its proposal or give the company’s shareholders the opportunity to consider and vote on the matter after being provided with complete information about the proposal.
CPPIB is in the process of considering all of its options and will not make further comment at this time.

Attributable to Mark Wiseman, Senior Vice President - Private Investments, CPP Investment Board

ENDS

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