Macquarie Power Income Fund Announces Broadened Acquisition Strategy

14 April 2005

TORONTO - April 14, 2005 - Macquarie Power Income Fund (TSX: MPT-UN - the "Fund") announced today that the Board of Trustees of the Fund has adopted a recommendation of the Fund's Manager to examine a broader range of infrastructure acquisition opportunities than those limited to the energy sector.

Mr. Bob Rollinson, President and Chief Executive Officer of the Fund said, "The Fund remains committed to pursuing power opportunities and will continue to target developed power generating facilities.  However, the Fund's charter contemplates that the Fund may invest in infrastructure assets outside of the power sector, and, following the Board of Trustees’ decision, management will expand its investigations to include other infrastructure assets that are accretive and extend the average life of the Fund's assets by providing long-term, stable cash flow.” 

"Since the Fund's inception, we have investigated a number of opportunities for investment in the power sector in order to diversify the Fund.  To date we have not found an investment opportunity that has met the standards of quality and accretion that we seek for our unitholders," said Mr. Rollinson.

"It is the Fund's intention to grow over time through acquisitions.  To that end, we will leverage the Macquarie group's extensive infrastructure capabilities to identify a broad range of investment opportunities that are consistent with the Fund's charter and acquisition criteria.  By doing so, we hope to add high quality infrastructure assets to the Fund."

The Fund is an unincorporated limited purpose trust which owns a 156 MW gas-fired cogeneration power station located in Cardinal, Ontario. The Fund's units are listed on the Toronto Stock Exchange under the symbol MPT.UN.  The Fund is managed by Macquarie Power Management Ltd.,  a wholly-owned subsidiary of Macquarie Bank Limited and a member of the Macquarie group.

More information on Macquarie Power Income Fund can be found at the Fund’s website, www.macquarie.com/mpt

For additional information please contact:

Investor enquiries
Harry Atterton
Chief Financial Officer
Macquarie Power Management Ltd.
Tel: (416) 607 5198
Email: harry.atterton@macquarie.com