HOCHTIEF subsidiary Leighton has sold parts of its Australian iron ore business at a substantial profit. The company today disposed of several projects undertaken by its subsidiary HWE Mining in the Pilbara region to mining group BHP Billiton for the equivalent of EUR 512 million (AUD 705 million). Leighton generated a profit after tax of EUR 118.5 million (AUD 163 million) from the transaction. In light of this positive development at Leighton, HOCHTIEF is raising its prior guidance for fiscal 2011, which continues to depend on the size and outcome of the sale of interests at HOCHTIEF Concessions. Following the successful conclusion of this transaction, which we are expecting in the coming weeks, HOCHTIEF will therefore specify its guidance in more precise detail.