Long-term Financing Agreement Signed for the New International Terminal at Manila Airport

Frankfurt, Germany (PROTEXT/ots) - The PIATCO (PhilippineInternational Air Terminals Co., Inc.) project company - in whichFraport AG Frankfurt Airport Services Worldwide is a shareholder-- and an international banking consortium have agreed on a long-term financing arrangement for the new International PassengerTerminal 3 at Ninoy Aquino International Airport (NAIA) inManila, the Philippines. Respective documents have been signedrecently. The banking consortium includes ABB Structured Finance,the Asian Development Bank, Dresdner Kleinwort Wasserstein, theInternational Finance Corporation, Kreditanstalt fürWiederaufbau, Landesbank Hessen-Thüringen and NorddeutscheLandesbank, and will provide funding in the amount of $440million for this project, with terms ranging between 12 and 15years. Fraport AG holds a direct 30-percent share in PIATCO, which isfinancing, planning, constructing and operating the new terminalas a Build, Operate, and Transfer (BOT) project. In 1997, PIATCOwas awarded the operating concession, that runs for 25 years.After that period, the ownership of the terminal building will betransferred to the Philippine government. Construction of the newterminal started on June 15, 2000, on a 65-hectare sitepreviously used by the Philippine Air Force. The topping-outceremony took place on July 24, 2001, attended by representativesof the Philippine government. Scheduled to open by the end of2002, the new terminal building will have a design capacity of 13million passengers per year. A team of 10 Fraport AG specialists, on site in Manila since1999, is tasked with planning and coordinating architectural andoperational procedures. In addition, Fraport experts based atFrankfurt Airport provide support to the specialist team inManila. Fraport AG's consulting activities include support duringthe project period and the start-up of operations. "This is afurther important step in making this international project asuccess," said Fraport AG's Johannes Endler, Member of theExecutive Board and Executive Director for Finance and Trafficand Retail. Manila's new airport terminal plays a vital role as animportant showcase for BOT projects and as the major nationalinfrastructure project of the Philippines. It will be the primaryinternational gateway to the Philippines and a magnet forbusiness and investment in the future. ots Original TextService: Fraport AG Internet: www.presseportal.de For MoreInformation, Please Contact: Fraport AG Frankfurt AirportServices Worldwide Attn: Robert A. Payne - Manager InternationalPress 60547 Frankfurt am Main, Germany Tel.: +49 69 690 -78547(with voice mailbox) Fax: +49 69 690 -60548 E-Mail:r.payne@fraport.de Internet: www.fraport.de (click on "PressLounge")

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