$500 Million of Medium Term Notes Issued by 407 International Inc.



    TORONTO, Jan. 15 /CNW/ - 407 International Inc. announced today that it
has agreed to issue $300 million principal amount of 4.65% Senior Notes,
Series 09-A1, due January 20, 2012, and $200 million principal amount of 5.10%
Senior Notes, Series 09-A2, due January 20, 2014 through its $1.4 billion
Medium-Term Notes program in agency transactions with a syndicate led by RBC
Dominion Securities Inc. The syndicate also includes BMO Nesbitt Burns Inc.,
Scotia Capital Inc., TD Securities Inc., Casgrain & Company Limited, CIBC
World Markets Inc. and National Bank Financial Inc. The distribution of the
Series 09-A1 Senior Notes and the Series 09-A2 Senior Notes is scheduled to
close on or about January 20, 2009.
    Aggregate net proceeds of approximately $466.3 million, after paying the
costs of issuance and funding of the Series 09-A1 and Series 09-A2 series
reserve accounts, will be used to repay the $400 million principal amount of
Senior Bonds, Series 99-A1, due on July 27, 2009, on maturity or redemption,
as applicable, and for general corporate purposes.

    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.





For further information:

For further information: Investors: Kenneth A. Walker, Chief Financial
Officer, Tel: (905) 265-4070; Media: Steve Spencer, Director, Communications,
Tel: (905) 264-5232


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