So does C99.
The IEEE 754 floating point representation used by all modern processors has several special bit patterns reserved for positive infinity (sign=0, exp=~0, frac=0), negative infinity (sign=1, exp=~0, frac=0), and many NaN (Not a Number: exp=~0, frac?0).
All you need to worry about: some arithmetic may cause floating point exceptions/traps, but those aren't limited to only these "interesting" constants.