Fourth Annual

US P3 InfrastructureFinance Forum 2008June 19-20 2008, Hudson Theater, Millennium Broadway Hotel, New York

www.p3-americas.com

GOLD SPONSORS

PLATINUM SPONSORS

SILVER SPONSOR LUNCH SPONSORBREAKFAST SPONSOR DRINKS SPONSOR

07:45-08:45 REGISTRATION & NETWORKING BREAKFAST HOSTED BY:

08:45 P3AMERICAS WELCOMEPeter Allison, Managing Editor, P3AMERICAS

INTRODUCTION

08:45-08:55 CHAIRMAN’S STATE OF THE P3 MARKET ADDRESSDan Mathews, Partner, ORRICK, New York

08:55-09:10 KEYNOTEDJ Gribbin, General Counsel, USDOT, Washington DC

ISSUES, CHALLENGES & THE FUTURE

09:10-10:00 US P3 ‘MOVERS & SHAKERS’ – POLITICS, ECONOMICS & THE MACRO PICTUREIn 2008, the US P3 infrastructure market is starting to offer a genuinely strong dealpipeline. However, this long-awaited deal-flow has coincided with a downturn in theeconomy, all at a time as Americans are set to elect a new President. What do theseissues & challenges mean for the US P3 infrastructure market?

• Current Dealflow & Transaction Highlights over the Last Year;• The Impact of a Slowing Economy on P3s – Threat or Opportunity?• P3s – Gaining Public Approval;• US Presidential Election 08 & P3 Market Implications

Chair:Tom Osborne, Managing Director & Co-head, US Infrastructure/ Privatization, UBS, New York

Speakers:Malcolm Macintyre, Joint Head of Transportation & Social Infrastructure North America,BABCOCK & BROWN, New YorkMichael Kulper, Executive Vice President, North America, TRANSURBAN, New YorkDana Levenson, Head of North American Infrastructure, RBS, New YorkJohn Hastings, Managing Director, RBC CAPITAL MARKETS, New YorkTrent Vichie, Managing Director, MACQUARIE CAPITAL (USA), New York

10:00-10:40 TEA & COFFEE

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US P3 INFRASTRUCTURE FINANCE FORUM 2008

DAY ONE June 19 2008, Hudson Theater, Millennium Broadway Hotel, New York

FUNDERS & INVESTORS

10:40-11:25 THE GLOBAL LIQUIDITY & CREDIT CRISIS – ASSESSING THE IMPLICATIONSFOR US INFRASTRUCTUREThe global debt markets have undergone huge change as a result of the sub-primecredit crisis and infrastructure has not gone untouched. Our panel of leadinginfrastructure debt providers discuss the key ramifications of the crisis and evaluatehow future deals will be structured, priced and engineered.

• Global liquidity crisis: Ramifications for Greenfield, Brownfield & P2P deals;• US economic slowdown – ramifications for the P3 market;• Will more deals be funded in the capital markets using PAB and unfunded bankLCs similar to the Capital Beltway transaction?

• Prognosis for refinancing deals

Chair:Conor Kelly, Managing Director, DEPFA BANK, New York

Speakers:Greg Carey, Managing Director, GOLDMAN SACHS, New YorkPedro Losada, Head of Project Finance, CINTRA, AustinAlec Montgomery, Managing Director, RBS, New YorkCarol Rein, Managing Director & Co-head, US Infrastructure/ Privatization, UBS, New YorkJose Vizmanos, Head of Structured Finance, BBVA, New YorkDaniel Martin Haas, Head of Project Finance, CAJA MADRID, Madrid

11:25-11:40 KEYNOTEPaul A. Volpe, Chief Financial Officer, CITY OF CHICAGO, Chicago

11:40-12:30 INVESTING IN US INFRASTRUCTURE – THE NEXT GENERATIONThe market for infrastructure asset acquisitions is broadening to include new sectors,together with investment opportunities at a corporate level such as Carrix and WasteIndustries. This panel of experts will discuss future opportunities in US infrastructureincluding:

• State Asset Monetizations;• P2P Asset Transactions;• Corporate Opportunities;• Market Sectors: Ports; Utilities; Waste; Transportation Logisitics

Chair:Allan Marks, Partner, MILBANK, Los Angeles

Speakers:Felicity B. Gates, Managing Director & Co-head, CITI INFRASTRUCTURE INVESTORS, New YorkDavid Kerr, Managing Director, RREEF INFRASTRUCTURE, New YorkMark Florian, Managing Director, GOLDMAN SACHS, New YorkDunia Wright, Head of US and Europe, INDUSTRY FUNDS MANAGEMENT, New YorkChristopher Leslie, CEO, MACQUARIE INFRASTRUCTURE PARTNERS, New YorkMarkus Pressdee, Head of Infrastructure, CREDIT SUISSE, New York

12:30-14:00 LUNCH HOSTED BY:

14:00-14:05 AFTERNOON CHAIRMANJoel Moser, Partner, FULBRIGHT & JAWORSKI, New York

US HIGHWAYS

14:05-14:55 HIGHWAYS MARKET WATCH (I): FLORIDA, TEXAS & VIRGINIAFlorida, Texas & Virginia were the early P3 pioneers – what are the latest developmentsin these states and what lessons can be learned from their early procurement strategiesand deal structures?

Chair:Brad Watson, Managing Director, KPMG GLOBAL INFRASTRUCTURE, AustinSpeakers:Bill Thorp, Interim Assistant Secretary, Finance and Administration, FLORIDADEPARTMENT OF TRANSPORTATION, TallahasseePhilip Russell, Assistant Executive Director for Innovative Project Development, TEXASDEPARTMENT OF TRANSPORTATION, Austin (Invited)Barbara Reese, Deputy Secretary of Transportation, COMMONWEALTH OF VIRGINIA, Richmond

14:55-15:45 HIGHWAYS MARKET WATCH (II): MICHIGAN, NORTH CAROLINA & PUERTO RICOAs the US P3 market gathers pace deals are emerging in a variety of new states – what arethe latest developments in these states and what are their plans for bringing deals to market?

Chair:Carol Rein, Managing Director & Co-head, US Infrastructure/ Privatization UBS, New YorkSpeakers:Steve Dewitt, Deputy Executive Director, NORTH CAROLINA TURNPIKE AUTHORITY, RaleighLeon Hank, Chief Administrative Office,MICHIGAN DEPARTMENT OF TRANSPORTATION, LansingCamille Toro, Senior Vice President, Infrastructure & Real Estate, GOVERNMENTDEVELOPMENT BANK FOR PUERTO RICO, San JuanKen Warbritton, Safe & Sound Bridge Improvement Program, MISSOURI DEPARTMENTOF TRANSPORTATION, Jefferson City

15:45-16:15 TEA & COFFEE

16:15-17:00 HIGHWAYS MARKET WATCH (III): THE DEVELOPER'S PERSPECTIVEReconciling public policy objectives with private sector expectations is critical if P3s are to besuccessfully executed. Our panel of developers will discuss what needs to be included in a P3agreement from the private sector perspective and what DOTs can do to best meet their needs.

• Lessons learned from successful and unsuccessful deals;• Risk allocation;• TX aftermath: Political considerations;• Maximizing market opportunities

Chair:Doug Fried, Partner, CHADBOURNE & PARKE, New YorkSpeakers:Jose M. Lopez de Fuentes, USA Director, CINTRA DEVELOPMENTS LLC, AustinVictor Saltao, Chief Executive Officer, BRISA NORTH AMERICA, AtlantaFernando Ferreyra, Director, Transportation & Social Infrastructure North America,BABCOCK & BROWN, San FranciscoKarl Reichelt, Executive Vice President, SKANSKA, AlexandriaJuan Santamaria, Chief Operating Officer, ACS INFRASTRUCTURE, Miami

17:00 CHAIRMANS CLOSING REMARKSJoel Moser, Partner, FULBRIGHT & JAWORSKI, New York

17:00-18:00 COCKTAIL DRINKS RECEPTION HOSTED BY:

08:00-08:45 NETWORKING BREAKFAST HOSTED BY:

08:45 CHAIRMAN’S WELCOMEOlivier Garnier, Managing Director, FSA, New York

INTRODUCTION

08:45-09:05 KEYNOTENorman Mineta, Former US Secretary of Transportation & Senior Advisor, CREDIT SUISSE

POLITICS

09:05-10:00 FEDERAL RE-AUTHORIZATION: MECHANICS, POLICY & POLITICSThe tolls versus taxes debate was a feature of the 110th Congress but this comes to aclose on January 3, 2009. As the Federal Highway & Transit Re-Authorization processcomes to a head, what issues will policymakers consider and institute and whatimplications will those actions have on the P3 market?

Chair:James Ray, Acting Administrator & Deputy Administrator, FEDERAL HIGHWAYSADMINISTRATION, Washington DC

Speakers:Tyler Duvall, Acting Undersecretary for Transportation Policy, USDOT, Washington DCLevon Boyagian, Vice President, DUTKO WORLDWIDE, Washington DCMartin Whitmer, Partner, WHITMER & WORRALL LLC, Washington DCJohn A. Flaherty, Principal, CARLYLE GROUP, Washington DC

FUTURE OPPORTUNITIES

10:00-10:20 KEYNOTEDavid Crane, Special Advisor to the Governor, OFFICE OF GOVERNOR ARNOLDSCHWARZENEGGER, Sacramento

10:20-11:10 CALIFORNIA – AN EMERGING MARKET FOR P3s?Governor Schwarzenegger is extremely supportive of P3s but establishing a politicalconsensus for their acceptance has proved challenging. Will this change and what arethe prospects for P3s in the world’s seventh largest economy?

• Setting the political scene;• Performance Based Infrastructure (PBI);• Governor Schwarzenegger’s plans;• Sector Opportunities: Rail; Transit; Roads; Social Infrastructure

Chair:Barney Allison, Partner, NOSSAMAN, Los Angeles

Speakers:David Crane, Special Advisor to the Governor, OFFICE OF GOVERNOR ARNOLDSCHWARZENEGGER, SacramentoAlistair Sawers, Director, RBC CAPITAL MARKETS, San FranciscoTerry Matsumoto, Chief Financial Services Officer, LAMTA, Los AngelesIan McAvoy, Chief Development Officer, SAMTRANS, San CarlosOmar Benjamin, Executive Director, PORT OF OAKLAND, OaklandNatalie Meeks, Director of Public Works, ARTIC, AnaheimStephen C. Beatty, Partner, KPMG, Toronto

DAY TWO June 20 2008, Hudson Theater, Millennium Broadway Hotel, New York

11:10-11:40 TEA & COFFEE

11.40-12.30 MANAGED LANE P3s – THE NEXT GENERATIONAt the end of 2007, Virginia’s groundbreaking Capital Beltway project closed, setting abenchmark for tackling congestion in America’s densely populated metroplexes. Ourpanel of experts will discuss the implications of this deal for future managed-lane P3sacross the US.

• Lessons from the Beltway;• Ramifications for Future Deal Structures;• Future Opportunities for Managed Lane P3s

Chair:Declan McManus, Director, KPMG GLOBAL INFRASTRUCTURE, Austin

Speakers:Michael Kulper, Executive Vice President, North America, TRANSURBAN, New YorkBarbara Reese, Deputy Secretary of Transportation, COMMONWEALTH OF VIRGINIA, RichmondMichael Uhouse, Managing Director, DEPFA BANK, New YorkDan Mathews, Partner, ORRICK, New YorkGeorge Biediger, Vice President, Project Development & Investments, FLUOR, South Carolina

12:30-13:30 LUNCH HOSTED BY:

13:30 AFTERNOON CHAIRMANMark Spinelli, Managing Director, Project Finance North America,AMBAC ASSURANCE, New York

13:35-14:35 INVESTING IN US AIRPORTS & FBOs – CHICAGO MIDWAY AND BEYOND?There are increasing opportunities for private investment in the US airport sector, notjust in headline transactions like Chicago Midway, but in general aviation facilities andFBOs. Our panel of experts will discuss market potential and how the airport sector willevolve in the next five years.

• Is Chicago Midway a one-off?• FAA Reauthorization;• Opportunities for private capital: terminal developments; air freight facilities; FBOsand service agreements

Chair:John R. Schmidt, Partner, MAYER BROWN, Chicago

Speakers:Christopher Frost, Head of Transport Infrastructure & Services, MACQUARIE CAPITALADVISORS (EUROPE), LondonNancy Kessler, Senior Attorney, Office of General Counsel, USDOT OFFICE OF THESECRETARY, Washington DCNeal Atterman, Director, CITIGROUP, New YorkReiner Schränkler, CEO, HOCHTIEF CONCESSIONS, Essen

14:35-15:30 RAIL P3s: HOWWILL THIS SECTOR GET MOVINGThere is a growing realization that rail P3s offer a viable alternative solution to thecontinued congestion on the nation’s roads. However, a P3 rail market has been slowto emerge. Our panel of experts will focus on current opportunities in the rail sectorand discuss what needs to happen for the market to develop further.

• Urban and suburban rail: BART and FAS TRACKS;• Mass transit and high speed rail: CA and other opportunities;• Class One railroads;• The federal perspective

Chair:Alistair Sawers, Director, RBC CAPITAL MARKETS, San Francisco

Speakers:Andrew S. Robbins, Senior Director, Project Development, BOMBARDIERTRANSPORTATION, San FranciscoDavid Horner, Deputy Assistant Secretary for Transportation Policy, USDOT OFFICEOF THE SECRETARY, Washington DCMalcolm Macintyre, Joint Head of Transportation & Social Infrastructure North America,BABCOCK & BROWN, New YorkPeter Winder, Vice President, BALFOUR BEATTY CAPITAL INC, San FranciscoBrian Middleton, Senior P3 Manager, RTD-FAS TRACKS, Denver

15.30 CHAIRMAN’S CLOSING REMARKSMark Spinelli, Managing Director, Project Finance North America,AMBAC ASSURANCE, New York

CLOSE OF CONFERENCE

The superb Millennium Broadway Hotel New York which houses the Hudson Theater is located in Manhattan’stheater district, just steps from Times Square. The impressive Hudson Theater was built by Henry B. Harris, anup and coming producer who later perished aboard the ill-fated RMS Titanic. With over 90 plays performed onthe Hudson’s stage in 20 years, it was known as one of the finest playhouses in the city and responsible forintroducing Louis Armstrong to the world. In the 1950s, the Hudson Theater was home to NBC’s The TonightShow with Steve Allen as host. During this time legends such as Bob Hope, Elvis Presley, and Sammy Davis Jr.graced the theater’s stage. The long-running daytime game show, The Price is Right also made its debut at theHudson Theater. The venue has superb accommodation and business facilities offering the perfect setting for theUS P3 market’s highest quality and best attended annual event.

ABOUT THE VENUE – HUDSON THEATER, MILLENNIUM BROADWAY HOTEL, NEW YORK

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