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407 International Reports $13.1 Million Loss

TORONTO, April 20, 2005

407 International Inc. announced today a loss of $13.1 million for the first quarter of 2005 compared with $30.6 million loss for the first quarter of 2004. Earnings before interest, taxes, depreciation and amortization (“EBITDA” ) totalled $61.8 million compared with $53.1 million in the corresponding period of 2004. Total vehicle kilometres travelled increased to nearly 442 million during the first quarter of 2005; a 5.6% increase over the same period last year. The Board of Directors declared a dividend of $0.027 per common share payable on or about April 20, 2005, to shareholders of record on April 20, 2005.

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.

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For more information, contact:


Kenneth A. Walker
Chief Financial Officer
Tel: 905-265-4070


Dale A. Albers
Manager, Public Relations
Tel: 905-264-5221

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