407 International Reports 2007 Results



    TORONTO, Jan. 31 /CNW/ - 407 International Inc. announced today revenues
of $518.9 million for the year ended December 31, 2007, compared to
$455.7 million in 2006. Earnings before interest, taxes, depreciation and
amortization ("EBITDA"(1)) totalled $407.6 million for 2007 compared to
$352.7 million for 2006. Net income for 2007 increased to $60.3 million
compared to $48.5 million in 2006.
    "The Company accomplished two significant milestones in 2007," said
Antonio de Santiago, President and Chief Executive Officer of 407 ETR. "We
opened another 49 kilometres of new lanes, completing the addition of over 100
lane kilometres in the past two years improving highway capacity and reducing
traffic congestion, and we launched 407 ETR Rewards to our most valued
customers." 407 ETR Rewards will extend benefits of at least $40 million over
four years to approximately 100,000 light vehicle customers by way of a
multi-tier frequent user program.
    The Board of Directors declared an eligible dividend of $0.044 per common
share payable on or about January 31, 2008, to shareholders of record on
January 31, 2008.
    407 International Inc. is the sole shareholder, operator and manager of
407 ETR, which extends 108 kilometres east-west, just north of Toronto. 407
International Inc. is owned by a consortium comprised of Cintra Concesiones de
Infraestructuras de Transporte, Macquarie Infrastructure Group and
SNC-Lavalin.

    News releases are available at www.407etr.com.
    Consolidated Financial Statements and Management's Discussion and
Analysis can also be accessed on SEDAR (www.sedar.com)

    
    Highlights
    Unaudited

                                Fourth Quarter Ended         Year Ended
                                     December 31             December 31
                               ----------------------  ----------------------
                                  2007        2006        2007        2006
                               ----------  ----------  ----------  ----------
    Selected Financial
     Information (in thousands)

      Revenues                 $ 135,757   $ 117,965   $ 518,933   $ 455,678
                               ----------  ----------  ----------  ----------

      Operating expenses          32,889      28,522     111,284     103,009
      Depreciation and
       amortization               17,871      18,578      68,617      62,274
                               ----------  ----------  ----------  ----------
                                  50,760      47,100     179,901     165,283
                               ----------  ----------  ----------  ----------
      Income from operations      84,997      70,865     339,032     290,395
      Interest and other
       expenses, net              61,524      61,862     278,724     241,907
                               ----------  ----------  ----------  ----------
      Net income               $  23,473   $   9,003   $  60,308   $  48,488
                               ----------  ----------  ----------  ----------
                               ----------  ----------  ----------  ----------


    Traffic

      Total trips
       (in thousands)             28,981      27,502     112,483     106,763
      Average revenue per trip $    4.68   $    4.29   $    4.61   $    4.27
      Average workday number
       of trips                  384,219     368,875     374,348     357,391
      Total vehicle kilometres
       (in thousands)            580,019     544,000   2,253,333   2,124,146
      Number of transponders
       in circulation at
       December 31               857,308     783,088     857,308     783,088

    ------------------------------
    (1) EBITDA is not a recognized measure under Canadian generally accepted
        accounting principles and investors are cautioned that EBITDA should
        not be construed as an alternative to net income or cash from
        operating activities as an indicator of the Company's performance or
        cash flows. The Company's method of calculating EBITDA may differ
        from other companies' and may not be comparable to measures used by
        other companies. EBITDA less Depreciation and amortization, Interest
        and other expenses (net), and Income taxes - current, result in Net
        Income.
    





For further information:

For further information: Investors: Kenneth A. Walker, Chief Financial
Officer, Tel: (905) 265-4070; Media: Dale A. Albers, Manager, Public
Relations, Tel: (905) 264-5221


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