16 November 2006

Not for publication, release or distribution in whole or in part in Australia, Canada, Japan or the United States
 
Babcock & Brown Public Partnerships Limited
(Incorporated in Guernsey with registered number 45241)

BBPP completes acquisition of infrastructure investments portfolio

 
Babcock & Brown Public Partnerships Limited (the "Company") is pleased to announce that in accordance with the Acquisition Agreements entered into by wholly owned subsidiary undertakings of the Company on 10th October 2006, completion of the acquisition of interests in 6 NHS LIFT projects, the Australian RiverCity Motorway project and 10 UK PFI projects (including the senior debt in respect of two of those projects) occurred on 9 November 2006. Completion of the acquisition of the remaining assets is expected to occur as anticipated and in accordance with the terms of the respective Acquisition Agreements.
 
 
For further information, please contact:
 
 
Babcock & Brown                   Anthony Kennaway                +44 (0)20 7203 7300
 
UBS Limited                           Steven Wirth                        +44 (0)20 7567 8000
 
 
 
UBS Limited (“UBS” or “UBS Investment Bank”) acted as sponsor and sole placing agent for the Issue. UBS acted exclusively for the Company and no-one else in connection with the Placing and the Offer. UBS will not be responsible to anyone other than the BBPP for providing the protections afforded to their respective clients nor for providing advice in relation to the acquisition or the Placing or the Offer or any other matter referred to in this announcement.