April 12, 2006 ? The Indiana Finance Authority and ITR Concession Company LLC, the joint venture formed by Cintra and Macquarie, today executed the lease agreement for the Indiana Toll Road. Charles Schalliol, director of the Office of Management and Budget Director, in his capacity as chair of the Indiana Finance Authority Board, signed the agreement. Signatures are effective as of 9 a.m. today.

The parties will now move toward closure of the $3.8 billion, 75-year Toll Road lease by June 30.

The lease includes an addendum, which provides for: a ?toll freeze? for passenger vehicles at current rates until electronic tolling is put in place; a 40 percent discount through June 30, 2016, for passenger vehicles utilizing electronic tolling; and continuation of commuter discount cards until the availability of electronic tolling. Copies of the addendum are available. The lease agreement itself, which is posted at http://www.in.gov/ifa/, did not change.

The lease will provide funding for Governor Mitch Daniels? Major Moves program, helping the state to move ahead with nearly 200 transportation projects throughout Indiana, including such marquee projects as upgrading U.S. 31 in South Bend, Kokomo, and Hamilton County; completing the Hoosier Heartland Corridor; and beginning construction of Interstate 69 between Evansville and Indianapolis. Lease proceeds also will fund projects in the seven Toll Road counties and provide $150 million over two years to all 92 counties for roads and bridges.

Note: Copies of the addendum are available online at: http://www.IN.gov/gov/media/pdfs/Lease_addendum.pdf

OMB Director Charles Schalliol is available to take questions today and can be reached at 317/232-5617.