Khazanah Nasional Berhad (“Khazanah”) announced today that it had acquired a 9.95% stake in Infrastructure Development Finance Company (“IDFC”) of India, via its wholly-owned subsidiary Sipadan Investments (Mauritius) Limited, for a total consideration of approximately Rs8.2 billion (USD180 million). The acquisition was completed over a period between September 2006 and March 2007. The current market value of the investment is approximately Rs9.4 billion (USD214 million) based on the prevailing share price as at close of trading on 19 March 2007.

With the acquisition, Khazanah is the second largest shareholder of IDFC, after the Government of India which holds 23%.

The strategic investment in IDFC is expected to enhance further the position of Khazanah and Malaysian companies in the Indian infrastructure sector. The sector is projected to experience one of the highest growth rates in the booming Indian economy, and is one where Malaysian infrastructure companies have already demonstrated competitiveness.