Babcock & Brown Public Partnerships Limited

(Incorporated in Guernsey with registered number 45241)

2 October 2007

Portfolio Update

In accordance with Listing Rule 15.6.8(2), Babcock & Brown Public Partnerships Limited (the 'Company') announces its 10 largest investments, including all holdings with a value greater than 5% of the Company’s total assets as at 30 September 2007.

Hereford & Worcester Magistrates Court

Strathclyde Police Training Centre

Northamptonshire Schools

Tower Hamlets Schools

River City Motorway

Calderdale Schools

Norfolk Police HQ

Reliance Rail

Derbyshire Schools Phase 2

Bootle Government Offices

For further information, please contact:

Babcock & Brown                                                               +44 (0)20 7203 7300

Investors - Bianca Francis

Media - Anthony Kennaway                    

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

Laurence McNairn