407 International Reports Third Quarter Results



    TORONTO, Oct. 18 /CNW/ - 407 International Inc. announced today revenues
of $144.9 million for the third quarter of 2007 compared to $121.6 million in
the third quarter of 2006. Earnings before interest, taxes, depreciation and
amortization ("EBITDA"(1)) totalled $118.0 million compared with $97.5 million
in the corresponding period of 2006. The increase in EBITDA was offset by a
$24.8 million increase in non-cash interest expense leading to a net income
for the third quarter of 2007 of $34.4 million which was lower than the
$39.7 million of net income for the same period last year. The Board of
Directors declared an eligible dividend of $0.040 per common share payable on
or about October 18, 2007, to shareholders of record on October 18, 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.
    Interim Consolidated Financial Statements and Management's Discussion and
Analysis can also be accessed on SEDAR (www.sedar.com)

    
    Highlights
    Unaudited

                                   Three month period     Nine month period
                                   ended September 30    ended September 30
                                  --------------------  --------------------
                                     2007       2006       2007       2006
                                  ---------  ---------  ---------  ---------

    Selected Financial
    Information (in thousands)

      Revenues                    $ 144,858  $ 121,573  $ 383,176  $ 337,713
                                  ---------- ---------- ---------- ----------

      Operating expenses             26,891     24,090     78,395     74,487
      Depreciation and
       amortization                  16,842     15,204     50,746     43,696
                                  ---------- ---------- ---------- ----------
                                     43,733     39,294    129,141    118,183
                                  ---------- ---------- ---------- ----------
      Income from operations        101,125     82,279    254,035    219,530
      Interest and other
       expenses, net                 66,737     42,620    217,200    180,045
                                  ---------- ---------- ---------- ----------
      Net Income                  $  34,388  $  39,659  $  36,835  $  39,485
                                  ---------- ---------- ---------- ----------
                                  ---------- ---------- ---------- ----------

    Traffic
      Total trips (in thousands)     29,588     27,573     83,502     79,261
      Average revenue
       per trip                   $    4.90  $    4.41  $    4.59  $    4.26
      Average workday number
       of trips                     392,425    368,840    371,057    353,624
      Total vehicle kilometres
       (in thousands)               620,530    573,748  1,673,314  1,580,146
      Number of transponders
       in circulation at
       September 30                 838,784    764,060    838,784    764,060
    

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





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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