407 International Reports First Quarter Results



    TORONTO, April 19 /CNW/ - 407 International Inc. announced today revenues
of $107.1 million for the first quarter ended March 31, 2007, compared to
$98.8 million for the same period of 2006. Earnings before interest, taxes,
depreciation and amortization ("EBITDA"(1)) totalled $80.6 million for the
first quarter of 2007 compared with $73.3 million for the same period of 2006.
The company reported a net loss of $8.8 million for the first quarter of 2007;
$2.2 million lower than the net loss of $11.0 million for the same period of
2006.
    The Board of Directors declared an eligible dividend of $0.037 per common
share payable on or about April 19, 2007, to shareholders of record on
April 19, 2007.

    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.


    
    --------------------------------------
    (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 (loss) 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 (loss).


    Highlights
    Unaudited


                                                          First Quarter
                                                    -------------------------
                                                        2007          2006
                                                    -----------   -----------

    Selected Financial Information (in thousands)
      Revenues                                      $  107,076    $   98,772
                                                    -----------   -----------

      Operating expenses                                26,500        25,425
      Depreciation and amortization                     16,970        13,707
                                                    -----------   -----------
                                                        43,470        39,132
                                                    -----------   -----------
      Income from operations                            63,606        59,640
      Interest and other expenses, net                  72,368        69,789
                                                    -----------   -----------
      Loss before income taxes                          (8,762)      (10,149)
      Income taxes - current                                 -           855
                                                    -----------   -----------
      Net loss                                      $   (8,762)   $  (11,004)
                                                    -----------   -----------
                                                    -----------   -----------


    Traffic
      Total trips (in thousands)                        25,075        24,192
      Average revenue per trip                      $     4.27    $     4.08
      Average workday number of trips                  336,265       324,924
      Total vehicle kilometres (in thousands)          479,526       461,856
      Number of transponders in circulation at
       March 31                                        797,971       725,262
    





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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