Airport Authority Arranges HK$6 Billion Credit Facility

(HONG KONG, 1 October 2007) - Airport Authority Hong Kong today announced that it has successfully arranged a 3-year, HK$6 billion revolving credit facility with 14 local and international banks. Proceeds will be used to refinance maturing debt and for general working capital purposes.

In early September, the Airport Authority invited banks to participate in a $4 billion revolving credit facility. Market response was enthusiastic, with banks committing $7.2 billion. As a result, the Airport Authority increased the size of the facility to $6 billion.

At an all-in cost of 14 basis points (0.14%) over the Hong Kong Inter-Bank Offered Rate (HIBOR), the terms of the self-arranged facility are among the best in the market.

"Despite the effects of the global credit crunch, the facility was enthusiastically received by both local and international banks. We are most grateful to our bankers for their unwavering support," the Airport Authority's Finance Director, Raymond Lai, said. "The favourable result also reflects the Airport Authority's strong capital position, superior credit standing and prudent financial management."

The Airport Authority's long-term local and foreign currency debt is rated AA by Standard & Poor's, the same rating as the Government of the Hong Kong Special Administrative Region.

Banks participating in the revolving credit facility:

Banca Monte dei Paschi di Siena S.p.A. (Hong Kong Branch)

Bank of China (Hong Kong) Ltd.

BBVA (Hong Kong Branch)

CALYON

CITIBANK, N.A. (Hong Kong Branch)

Commonwealth Bank of Australia

DBS Bank Ltd. (Hong Kong Branch)

Hang Seng Bank Ltd.

HSBC

Mizuho Corporate Bank Ltd.

Standard Chartered Bank（Hong Kong）Ltd.

Sumitomo Mitsui Banking Corporation

Tai Fung Bank Ltd.

The Bank of Tokyo-Mitsubishi UFJ Ltd.