Beginning of consultations with ABI Special Committee

BAA is today beginning consultations about the migration of its non-convertible existing bonds with a Special Committee of leading BAA bondholders convened with the assistance of the Association of British Insurers (ABI) as part of the implementation of its permanent financing structure.

BAA has made good progress with the plans to implement its permanent financing structure (including reaching an in principle agreement with nine banks in relation to the provision of certain banking facilities totaling at least £7.65 billion announced yesterday) since its request to the ABI on 9 May 2008 to conduct a holder enquiry.

However, certain aspects of the implementation of the permanent financing structure
remain to be finalized.

Any holders of the BAA Bonds who are not members of the ABI and who wish to record their presence with BAA may continue to do so by contacting BAA, Citi or RBS using the details below:

Bondholder Enquiries:
BAA: investors@baa.com
Citi: graham.bahan@citi.com
RBS: andrew.burton@rbs.com

Media enquiries