White & Case Wins Fourth Award in a Row for Transportation Finance

Firm Recognised for Finance Advice Across Road, Rail, Shipping and Aviation Sectors

London, December 22, 2006 ... White & Case has been named Road Law Firm of the Year at the 2006 Jane's Transport Finance Awards in London. The Firm was awarded the accolade for its work on the $3.8 billion Indiana Toll Road project, the largest highway privatisation to date in the US.

During this project the Firm represented ITR Concession Company LLC, owned by Cintra Concesiones de Infraestructuras de Transporte, S.A. and Macquarie Infrastructure Group, which will lease, operate, maintain and toll drivers on the Indiana Toll Road for 75 years in exchange for an upfront rent payment. The deal has created a myriad of construction jobs in Indiana and it will help pay for hundreds of state highway projects over the next ten years.

"The significance of this project is that it has served as a model for other states to follow, as they explore public-private partnerships to help fund much needed infrastructure projects," commented White & Case project finance partner Ned Neaher. "We expect to see this trend of private participation in public infrastructure to continue, and we are proud to see that our work in this area has received market recognition."

White & Case project finance partner Ned Neaher and associate Tomer Pinkusiewicz led the Firm's team, working closely with partner Linda Carlisle, counsel Maury Mechanick and associate Geoff Lanning in Washington, D.C., and counsel Paul Milmed and associates Carlos Canon, Imraan Mir and Nicolas Stein in New York.

This year's award brings up a quadruple for White & Case at the Jane's Transport Finance awards, with the Firm having been named road, rail, shipping and aviation law firm of the year in the last three years.

In 2005, White & Case was awarded the Rail Finance Law Award for advising a consortium of five major banks in the financing of a high-speed rail link between Perpignan, France and Figueras, Spain, as well as receiving the Airport Finance Law Award for advising an international consortium in connection with the development of, and financing for, the new Quito International Airport Project in Ecuador. In 2004 the Firm was named Shipping Finance Law Firm of the Year for its involvement in Norwegian vessel owner-operator Frontline's mammoth acquisition of 47 vessels. White & Case advised Nordea Bank Norge ASA and Citigroup Global Markets Ltd. as Bookrunners in relation to the provision of a US $1,058,000,000 credit facility to Ship Finance International Ltd. (SFIL), a special purpose company established by Frontline.

Jane's Transport Finance, part of Jane's Information Group in London, is a globally renowned source of transport finance information for both the debt and equity markets in the aircraft, shipping, road and rail sectors

The award was announced during the 6th Annual Jane's Transport Finance Awards, which took place in London on December 7, 2006.

About White & Case
White & Case LLP is a leading global law firm with more than 2,000 lawyers in 35 offices in 23 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

Contact:
James Martin
Media Relations Mgr EMEA, White & Case
44 0 20 7532 2853/ 44 0 7939 012 011


Alexandra Henderson
Media Relations Executive, White & Case
44 (0) 20 7532 2848