2003

Unique (Flughafen Zürich AG): Refinancing 2003 shortly before completion / Invitation to a Tender Offer for the Partial Repurchase of Bonds

Airport of Zurich, June 27, 2003: After completion of various financing transactions, Unique (Flughafen Zürich AG) intends to repurchase and redeem max. CHF 200 mio. of outstanding Bonds.

Due to a US Private Placement of CHF 365 Mio. (April 2003), a Private Placement in Japan of CHF 421 mio. (Mai 2003) and a "US Leveraged Lease" of CHF 400 Mio. Unique received long-term liabilities of nearly 1,2 billion Swiss Francs during the last three months. These funds are mainly used for the refinancing of existing liabilities.

Unique repurchased outstanding Bonds for CHF 265 mio. (in April 2003) and re-paid existing short-term liabilities with banks and with the canton Zurich (for CHF 254 mio. in May 2003). Additionally, Unique has offered to the Canton of Zurich to prematurely pay back the outstanding long-term loan of CHF 300 mio. With this announced intention of a further repurchase of outstanding Bonds up to max. CHF 200 mio. and of the intended payback of the loan to the Canton of Zurich, the refinancing 2003 will be completed. This refinancing permitted Unique (Flughafen Zürich AG) to extend the maturities of the debt substantially and to secure the infrastructure of the Airport on a long-term base. The intended repurchase of max. CHF 200 mio. outstanding Bonds will take place in the form of a "modified Dutch auction" tender (as in April 2003) under the joint lead of "Zürcher Kantonalbank" and "Merrill Lynch". The holders of all the five outstanding Bonds are invited to tender their Bonds to Unique (Flughafen Zürich AG) for repurchase during the offering phase from July 7 to July 9, 2003. Unique (Flughafen Zürich AG) will buy back the Bonds which are offered at the most attractive prices.

The details of such tender are described in a termsheet which are available in German,French and English on Unique's webpage. www.uniqueairport.com/info/termsheet

Additionally, the Invitation to a Tender Offer for the Partial Repurchase of Bonds will appear as an advertisement in "Finanz&Wirtschaft" on Saturday, July 5, 2003 and in "Neue Zürcher Zeitung", Tages Anzeiger" and "Le temps" on Monday, July 7, 2003.

For further questions please contact:
- Beat Spalinger, CFO, +41-43-816 30 41
- Andreas Siegenthaler, Corporate Communications, +41-43-816 59 82