$250 Million of Medium Term Notes Issued by 407 International Inc.

    TORONTO, Jan. 22 /CNW/ - 407 International Inc. announced today that it
has agreed to issue $250 million principal amount of 4.50% Senior Notes,
Series 08-A1, due January 25, 2011, through its $1.4 billion Medium-Term Notes
program in an agency deal with a syndicate led by BMO Nesbitt Burns Inc. The
syndicate also includes RBC Dominion Securities Inc., Scotia Capital Inc., TD
Securities Inc., CIBC World Markets Inc. and Casgrain & Company Limited. The
distribution of Series 08-A1 Senior Notes is scheduled to close on or about
January 25, 2008.
    Net proceeds of approximately $249.3 million, after paying the costs of
issuance and funding of the Series 08-A1 series reserve, will be used to repay
the $100 million principal amount of Senior Floating Rate Notes, Series 06-A1,
maturing on February 11, 2008, the $75 million principal amount of Senior
Floating Rate Notes, Series 07-A1, due on May 26, 2008, 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: Dale A. Albers, Manager, Public
Relations, Tel: (905) 264-5221

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