Completion of Acquisition

Babcock&Brown Public Ptnrships Ltd
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      Not for publication, release or distribution in whole or in part in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)
            

                            
      Completion of acquisition of portfolio of infrastructure investments

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          [phone]

UBS Limited            Steven Wirth              [phone]


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.







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