407 International Reports Third Quarter Results

TORONTO, Oct. 19 /CNW/ - 407 International Inc. announced today revenues of $172.8 million for the third quarter ended September 30, 2010 compared to $156.6 million for the same period of 2009.  Earnings before interest, taxes, depreciation and amortization ("EBITDA"¹) totalled $143.9 million for the third quarter of 2010 compared with $128.3 million for the same period of 2009. The Company reported a net income of $28.9         million for the third quarter of 2010 compared with a net income of $12.9 million for the same period of 2009.

The Board of Directors declared an eligible dividend of $0.142 per common share payable on or about October 19, 2010, to shareholders of record on October 19, 2010.

407 International Inc. is owned by a consortium comprised of Cintra Infraestructuras, Intoll and SNC-Lavalin.

News releases are available at www.407etr.com.

¹ EBITDA is not a recognized measure under Canadian generally accepted accounting principles and investors are cautioned that EBITDA should not be construed as an alternative to net income or cash from operating activities as an indicator of the Company's performance or cash flows.  The Company's method of calculating EBITDA may differ from other companies' and may not be comparable to measures used by other companies.  EBITDA less Depreciation and amortization, Interest and other expenses result in Net income.

Highlights

Unaudited

			Three month period ended				Nine month period ended
			September 30				September 30
			2010		2009		2010		2009
Selected Financial Information (in millions)
	Revenues		$           172.8		$       156.6		$        466.0		$      418.4
	Operating expenses		28.9		28.3		83.5		81.2
	Depreciation and amortization		15.1		15.1		41.7		47.1
			44.0		43.4		125.2		128.3
	Income from operations		128.8		113.2		340.8		290.1
	Interest and other expenses, net		86.2		95.7		230.2		254.0
	Income  before income taxes		42.6		17.5		110.6		36.1
	Future income tax expense		13.7		4.6		35.5		7.2
	Net income		$            28.9		$         12.9		$          75.1		$        28.9
Traffic
	Total trips (in thousands)		30,028		29,075		85,499		82,392
	Average revenue per trip		$5.75		$5.39		$5.45		$5.08
	Average workday number of trips		392,985		380,705		379,670		365,356
	Total vehicle kilometres (in thousands)		642,871		610,156		1,743,374		1,648,022
	Number of transponders in circulation at September 30		1,007,614		952,977		1,007,614		952,977

For further information:

Investors:    Louis-M. St-Maurice     Chief Financial Officer              Tel: [phone]

Media: Kevin Sack Vice President, Communications and Government Relations Tel: [phone]