[ZX3_2NV]

News Release
For Immediate Release
407 ETR Announces 2009 Rate Schedule
TORONTO, December 31, 2008 - 407 ETR today announced toll changes which will come into effect on February 1, 2009.

Starting February 1, 2009, peak-hour tolls for light vehicles between Highway 403/QEW in Burlington and Highway 400 will be 19.85 cents per kilometre. Peak-hour tolls for light vehicles between Highway 400 and Brock Road in Pickering will be 19.25 cents per kilometre. The offpeak toll rate for the entire highway is being held at 2008 levels.

Next year, customers without transponders will benefit from a ten percent reduction in the Video Toll Charge and a reduction in the Video Account Fee. Transponder customers will receive a reduction in the Monthly Transponder Lease Fee. The company also announced that it will introduce a Trip Toll Charge of 25 cents for light vehicles for each trip taken on the highway.

“These changes keep traffic moving while maintaining affordable rates,” said Antonio de Santiago, President and Chief Executive Officer of 407 ETR, adding that the company has invested over $1.1 billion in new lanes since 1999 and plans to build over $70 million of new lanes in 2009. “We want to continue to save people time and offer them good value for their money.”

For more details regarding toll rate changes for different vehicle types and sections of the highway, please see the attached chart or visit http://www.407etr.com.

407 ETR Concession Company Limited (“407 ETR”) is the operator and manager of Highway 407,
which extends 108 kilometres east-west, just north of Toronto. 407 International Inc., the sole
shareholder of 407 ETR, is owned by a consortium comprised of Cintra Concesiones de
Infraestructuras de Transporte, Macquarie Infrastructure Group and SNC-Lavalin.


2009 Toll Rates
(Prices in Cents Per Kilometre)
Vehicle Class_______Peak Rate_______Peak Rate_______Off Peak, Night and
________________Regular Zone______Light Zone________Weekend Hours
______________(West of Hwy 400)__(East of Hwy 400)____(Entire Highway)


Light Vehicles (Cars,___19.85___________19.25_____________18.00
Minivans, SUVs)

Heavy Vehicles_______39.70___________38.50______________36.00
(Large Trucks)

Heavy Multiple_______59.55____________57.75______________54.00
(Tractor trailers)

- Peak Hours are weekdays between 6 a.m. and 10 a.m. and 3 p.m. and 7 p.m.
- Off-Peak Hours are weekdays between 10 a.m. and 3 p.m. and 7 p.m. and 6 a.m., as well as statutory holidays and weekends.
- Changes to the 2009 Toll and Fee Schedule include:
- The Video Toll Charge for light vehicles will decrease from $3.60 to $3.25.
- The Monthly Transponder Lease Fee will decrease from $2.55 to $2.50.
- The Video Account Fee will decrease from $2.55 to $2.50.
- A Trip Toll Charge will be charged for every trip on the highway based on vehicle size:
- Light Vehicles will be charged 25 cents per trip.
- Heavy Vehicles will be charged 50 cents per trip.
- Heavy Multiple Vehicles will be charged 75 cents per trip.
For a complete list of toll and fee schedule changes, please visit http://www.407etr.com.