Portfolio Update

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     Not for publication, release or distribution in whole or in part in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



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                   Anthony Kennaway          [phone]

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






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