TIDMINPP 
 
RNS Number : 0907O 
International Public Partnership Ld 
23 June 2010 
 

23 June 2010 
 
                    International Public Partnerships Limited 
 
                    Moray Schools PPP Reaches Financial Close 
 
International Public Partnerships Limited ("INPP" or "the Company"), the listed 
infrastructure investment company, is pleased to announce that the INPP-led 
consortium has reached financial close on the Moray Council Building for 
Learning PPP project in North East Scotland. The consortium was advised by Amber 
Infrastructure (Amber), who acted as financial advisor and equity arranger. 
INPP has invested approximately GBP4million of equity for a 100% interest in the 
project. Senior debt has been arranged with Aviva for a fixed term of the 
construction period plus 29 years and at a fixed margin for the life of the 
project. 
The project includes the redevelopment of a primary and a secondary school at 
Keith and Elgin, both near Inverness. Construction will be undertaken by Stewart 
Milne Group Ltd and is scheduled to complete in early 2012. The concession 
period is 30 years from construction completion and is due to expire at the 
start of 2042. 
Facilities management services have been outsourced to FES FM Ltd (FES), an 
experienced Scottish PPP facilities management provider. FES will be overseen by 
Kevin Hawkins, a member of the Amber asset management team, who also has 
responsibility for the Company's successful Northampton Schools PPP project. 
The overall return on the project is forecast to be in a range which is 
accretive to the Company in net asset value terms. In addition, the majority of 
the project's revenues benefit from a combination of indexation (RPI) and annual 
fixed increases. Revenues from the project are guaranteed by the Moray Council 
(subject to satisfactory construction and operational performance). 
Keith Dorrian, Chairman of INPP, said today: "We are delighted to reach 
financial close on this important project. INPP's portfolio includes ten school 
projects in the UK, Canada and Australia. This new investment further 
consolidates INPP's leading position in the schools PPP sector and establishes 
INPP as a participant for forthcoming Scottish infrastructure projects." 
"INPP through Amber maintains preferred bidder status on a number of additional 
projects, as well as having an encouraging pipeline of other opportunities which 
are currently under review. INPP has a right of first refusal over each of these 
projects and remains on track to invest the proceeds of the equity raising 
completed in January 2010 by or before the end of the year." 
For further information: 
 
Bianca Francis                                                              +44 
(0)20 7939 0558 
Amber Fund Management Limited 
 
Nick Westlake                                                             +44 
(0)20 7260 1345 
Numis Securities 
Ed Gascoigne-Pees/Ed Berry                                        +44 (0)20 7269 
7132/7297 
 Financial Dynamics 
Notes to Editors: 
About the Redevelopment 
The replacement for Elgin Academy will accommodate 1,050 pupils and will 
comprise classrooms, a games hall, gym, fitness suite and dance studio for the 
modern curriculum. There will also be a community room which can be accessed by 
parents and local groups in and out of school hours. External facilities will 
include a full-size floodlit all-weather pitch, two grass pitches built to 
Sportscotland standard, and a secure terraced courtyard. 
 
Keith Primary comprises classrooms for nursery though to P7, pupil support, an 
assembly and games hall, a kitchen and dining hall, and a space for community 
use. External facilities include safe play provisions for children at all 
stages, outdoor "classrooms" where lessons can be held, and a fenced all-weather 
multi-use games area. Also being provided as part of the school development is a 
full-size floodlit all-weather pitch, and two grass pitches, again to 
Sportscotland standards. 
 
About International Public Partnerships (INPP): 
 
International Public Partnerships (INPP) is a listed infrastructure investment 
company which invests in global public infrastructure projects developed under 
the public private partnerships (PPP) and private finance initiative (PFI) 
procurement methods. 
 
Listed in 2006, INPP is a long-term investor in 52 social and transport 
infrastructure projects, including schools, hospitals, courts and police 
headquarters in the UK, Europe, Australia and Canada. INPP seeks to provide its 
shareholders with both a long-term government-backed yield and capital growth 
through investment across both construction and operational phases of 25-40 year 
concessions. 
 
Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and 
consists of 50 dedicated infrastructure specialists which originate and source a 
strong pipeline of projects for INPP, which has a 'right of first refusal' to 
invest in all projects developed by Amber. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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