24 January 2007

Not for publication, release or distribution in whole or in part in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)
Notification of change of registered holder of major interest in shares

In accordance with Guidance Note 9.6.10 to the Listing Rules, Babcock & Brown Public Partnerships Limited (the 'Company') announces that Babcock & Brown Investment Holdings Pty Limited has transferred its holding of 25,000,000 shares, 8.33% of the total share capital of the Company, to B&B Prime Securities Pty Ltd for internal administrative purposes and without any change of beneficial ownership.

For further information, please contact:
 

Babcock & Brown
Anthony Kennaway +44 (0)20 7203 7300
 

Heritage International Fund Managers Limited, Secretary
Laurence McNairn +44 (0)1481 716000