Macquarie Power Income Fund Announces Broadened Aquisition Strategy
TORONTO - April 14, 2005 - Macquarie Power Income Fund (TSX: MPT-UN - the "Fund")
announced today that the Board of Trustees of the Fund has adopted a recommendation
of the Fund's Manager to examine a broader range of infrastructure acquisition
opportunities than those limited to the energy sector.
Mr. Bob Rollinson, President and Chief Executive Officer of the Fund said, "The Fund
remains committed to pursuing power opportunities and will continue to target developed
power generating facilities. However, the Fund's charter contemplates that the Fund may
invest in infrastructure assets outside of the power sector, and, following the Board of
Trustees’ decision, management will expand its investigations to include other
infrastructure assets that are accretive and extend the average life of the Fund's assets by
providing long-term, stable cash flow.”
"Since the Fund's inception, we have investigated a number of opportunities for investment
in the power sector in order to diversify the Fund. To date we have not found an
investment opportunity that has met the standards of quality and accretion that we seek for
our unitholders," said Mr. Rollinson.
"It is the Fund's intention to grow over time through acquisitions. To that end, we will
leverage the Macquarie group's extensive infrastructure capabilities to identify a broad
range of investment opportunities that are consistent with the Fund's charter and
acquisition criteria. By doing so, we hope to add high quality infrastructure assets to the
The Fund is an unincorporated limited purpose trust which owns a 156 MW gas-fired
cogeneration power station located in Cardinal, Ontario. The Fund's units are listed on the
Toronto Stock Exchange under the symbol MPT.UN. The Fund is managed by Macquarie
Power Management Ltd.1, a wholly-owned subsidiary of Macquarie Bank Limited and a
member of the Macquarie group.
More information on the Fund can be found at the Fund’s website, www.macquarie.com/mpt
For additional information please contact:
Chief Financial Officer
Macquarie Power Management Ltd.
(416) 594 5198
1Macquarie Power Management Ltd. is not an authorised deposit taking institution for the purposes of the
Banking Act (Cth) 1959 and Macquarie Power Management Ltd’s obligations do not represent deposits or
other liabilities of Macquarie Bank Limited ABN 46 008 583 542. Macquarie Bank Limited does not guarantee
or otherwise provide assurance in respect of the obligations of Macquarie Power Management Ltd.