Macquarie Infrastructure Company Declares First Quarter 2005 Dividend

Additional Pro-rated Fourth Quarter 2004 Dividend

NEW YORK, May 16 -- Macquarie Infrastructure Company, announced that its Board of Directors has declared a first quarter cash dividend in the amount of $0.50 per share. The Company will also pay a pro-rated dividend of $0.0877 per share for the period from December 16 to December 31, 2004.

Shares of trust stock will trade ex-dividend on May 31, 2005. The combined dividends for both periods totaling $0.5877 will be payable to shareholders of record at the close of business on June 2, 2005 and will be paid on June 7, 2005.

"Our dividend policy is based on the predictable and stable cash flows of our businesses and investments," said Peter Stokes, Chief Executive Officer. "Looking forward, we intend to distribute to our shareholders on a quarterly basis the majority of our cash available for distribution and do not intend to retain significant cash balances in excess of prudent reserves."

About Macquarie Infrastructure Company

MIC owns, operates and invests in a diversified group of infrastructure businesses, which provide basic, everyday services, in the United States and other developed countries. Its initial businesses and investments consist of an airport services business (Atlantic and AvPorts), an airport parking business (PCAA and Avistar) and a district energy business (Thermal Chicago and Northwind Aladdin), a 50% interest in the company that operates the Yorkshire Link Shadow toll road and investments in South East Water, a UK regulated water utility and in Macquarie Communications Infrastructure Group.

For further information, please visit the Company's website, http://www.macquarie.com/mic

Australian banking regulations that govern the operations of Macquarie Bank Limited and all of its subsidiaries, including the Company's manager, require the following statements. Investments in Macquarie Infrastructure Company Trust are not deposits with or other liabilities of Macquarie Bank Limited or of any Macquarie Group company and are subject to investment risk, including possible delays in repayment and loss of income and principal invested. Neither Macquarie Bank Limited nor any other member company of the Macquarie Group guarantees the performance of Macquarie Infrastructure Company Trust or the repayment of capital from Macquarie Infrastructure Company Trust.