DRIVe

Transurban DRIVe is Transurban Group's road investment vehicle in North America. It allows the Group to bid for new toll road assets in that market while sharing the development costs and funding risk with other investors.

Transurban and its co-investors in DRIVe have committed a total of US$2.86 billion, which will be drawn down over time as DRIVe acquires and develops assets.

CP2 - one of Transurban's major security holders - set up a pooled fund which has taken a 25 per cent stake in DRIVe. Investors in the fund include leading institutions from the US, UK and Europe.

Transurban currently holds 75 per cent of DRIVe but has reserved the right to seek subscriptions from North American and other investors at a later date.

Pocahontas 895 in Richmond, Virginia was the first asset transferred into DRIVe. DRIVe owns 100 per cent of the 895, and Transurban continues to operate the road.

DRIVe has a 90 per cent stake in Transurban's Capital Beltway HOT Lanes project, which reached financial close in December 2007. The Group's other HOT lanes project in Virginia - I-95/395 - will also be offered to DRIVe at financial close.