$300 Million of Medium Term Notes Issued by 407 International Inc.

    TORONTO, Jan. 24 /CNW/ - 407 International Inc. announced today that it
has agreed to issue $300 million principal amount of 5.00% Subordinated Notes,
Series 08-D1, due January 31, 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-D1 Senior Notes is scheduled to close on or about
January 29, 2008.
    Net proceeds of approximately $298.7 million, after paying the costs of
issuance, together with other available funds, will be used to repay the
$300 million principal amount of Subordinated Floating Rate Notes, Series
07-D1, due on May 26, 2008, on maturity or redemption, as applicable.

    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

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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