Portfolio Update

Babcock&Brown Public Ptnrships Ltd
04 January 2008


        Not for publication, release or distribution in whole or in part in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)



4 January 2008


                              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 31
December 2007.


Hereford & Worcester Magistrates Court

Strathclyde Police Training Centre

Northamptonshire Schools

Tower Hamlets Schools

River City Motorway

Calderdale Schools

Norfolk Police HQ

The Diabolo Project

Dublin Criminal Courts Project

BeNEX




For further information, please contact:

Babcock & Brown                   Anthony Kennaway       [phone]

Heritage International Fund       Laurence McNairn       [phone]
Managers Limited, Secretary






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            The company news service from the London Stock Exchange