News Release

Macquarie Power & Infrastructure Income Fund and Leisureworld Announce Completion of Acquisition

  • Adds seven long-term care homes to Leisureworld’s portfolio
  • Expands Leisureworld’s geographic footprint
  • Supports long-term stability of Leisureworld’s cash flow

TORONTO, Ontario (January 31, 2008) – Macquarie Power & Infrastructure Income Fund (TSX: MPT.UN; MPT.DB – “MPT” or the “Fund”) today announced that Leisureworld Senior Care LP (“Leisureworld”), in which MPT owns a 45% interest, has completed its previously announced acquisition of seven long-term care (“LTC”) homes from a wholly-owned subsidiary of Counsel Corporation (TSX: CSX) following receipt of regulatory approval for the transaction from the Ontario Ministry of Health and Long-Term Care (“MOHLTC”).

“These homes are an excellent fit for Leisureworld’s portfolio and are located in communities where there is stable demand for long-term care,” said Gregory Smith, President and Chief Executive Officer of the Fund. “This transaction is consistent with Leisureworld’s strategy to deliver high quality care to Ontario’s seniors and will support the long-term sustainability and predictability of Leisureworld’s cash flow.” The seven Class C homes, representing 1,127 beds and approximately 1,200 employees, are located in Scarborough, Mississauga, Streetsville, North York, Brampton and Ingersoll, Ontario. The homes achieved average annual occupancy of 95.0% for the fiscal year ended December 31, 2007 (2006 - 90.48%). With the completion of this transaction, Leisureworld is now the third largest provider of long-term care in Ontario with 26 LTC homes, representing approximately 5.6% of all LTC homes in the province. Class A homes represent 52.4% of Leisureworld’s portfolio, Class B homes, 6.9% and Class C homes, 40.7%.

Mr. Smith continued, “Leisureworld is dedicated to delivering the highest possible quality of care to its residents and to offering an exceptional environment in each of its homes. We anticipate a smooth transition and expect Leisureworld to make an immediate positive contribution to its new homes and the communities they serve. ”

The $67-million acquisition, plus transaction and home refurbishment costs, was financed through a credit facility established by Leisureworld. MPT and Macquarie International Infrastructure Fund (“MIIF”), which owns the remaining 55% interest in Leisureworld, have committed to make an aggregate equity contribution, in proportion to their ownership interest in Leisureworld, of up to $15 million within the next 12 months.

About Macquarie Power & Infrastructure Income Fund
Macquarie Power & Infrastructure Income Fund invests in essential infrastructure assets in North America with an emphasis on power infrastructure. MPT’s strategy is to acquire and actively manage a high quality portfolio of diverse infrastructure assets to improve their financial performance and provide growing and sustainable distributions to unitholders.

MPT’s portfolio includes investments in gas cogeneration, wind, hydro and biomass power generating facilities, representing approximately 350 MW of installed capacity, and a 45% indirect interest in Leisureworld Senior Care LP, a leading provider of long-term care, or social infrastructure, in Ontario. MPT is managed by a wholly-owned subsidiary of Macquarie Group Limited. Please visit for additional information.

Forward-looking Statements
Certain statements in this news release may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results expressed or implied by such forward-looking statements. Forward-looking statements use such words as “may”, “will”, “anticipate”, “believe”, “expect”, “plan” and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release.

Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved.

A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to: risks associated with the Fund’s gas cogeneration, wind, hydro and biomass power generating assets and the power industry generally; risks associated with MPT’s interest in Leisureworld and the long-term care sector; risks associated with the structure of MPT; and risks associated with business, regulatory and economic conditions. The risks and uncertainties described above are not exhaustive and other events and risk factors including risk factors disclosed in MPT’s filings with Canadian securities regulatory authorities could cause actual results to differ materially from the results discussed in the forward-looking statements. The forward-looking statements contained in this news release are based upon information currently available and what the Fund currently believes are reasonable assumptions. However, the Fund cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Fund and the Manager assume no obligation to update or revise them to reflect new events or circumstances. The Fund cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made.

For further information, please contact:

Harry Atterton
Vice President & Chief Financial Officer
Tel: (416) 607 5198

Aaron Boles
Investor Relations
Tel: (416) 649 1325