Babcock & Brown Public Partnerships Limited

Portfolio Update

In accordance with Listing Rule 15.6.8R, Babcock & Brown Public Partnerships Limited (the 'Company') confirms the following:

1.  As at 30 June 2008, the Company had no investments in listed closed-ended investment funds. 

2.  The Company's 10 largest investments, including all holdings with a value greater than 5% of the Company's total assets as at 30 June 2008 are as follows:

Royal Children's Hospital

Hereford & Worcester Magistrates Courts

Northamptonshire Schools

Diabolo Project

Strathclyde Police Training Centre

BeNEX

Tower Hamlets Schools

Norfolk Police HQ

Orange Hospital Project

Dublin Criminal Courts Project

For further information, please contact:

Babcock & Brown Investment Management Limited:                          +44 (0)20 7203 7300

Investors        Bianca Francis 

Media            Anthony Kennaway

Heritage International Fund 

Managers Limited:                                                                            +44 (0)1481 716000

Secretary         Laurence McNairn

• News Channel