Proposed Fund Raising

Babcock&Brown Public Ptnrships Ltd
15 January 2008


  THIS ANNOUNCMENT REPLACES ANNOUNCEMENT 7593L.  THE HEADING UNDER WHICH THIS
   ANNOUNCEMENT SHOULD BE RELEASED IS PROPOSED FUND RAISING, NOT STATEMENT RE
                                POSSIBLE OFFER.


                  Babcock & Brown Public Partnerships Limited

                                 Press Release

This announcement and the information contained herein is restricted and is not
   for publication, release or distribution in whole or in part in Australia,
                      Canada, Japan or the United States.


15 January 2008


                             Proposed Fund Raising


Following the acquisitions of the assets approved by shareholders at the
Extraordinary General Meeting of the Company on 14 December 2007 substantially
all the cash raised by Babcock & Brown Public Partnerships ('BBPP') at the time
of its IPO has, as previously advised, been committed to investments.


In response to enquiries from both new and existing investors and in light of
the solid investment performance of the Company since its launch in November
2006 as well as the Company's belief in the continuing strength of its pipeline
of opportunities, the Board of BBPP confirms that it is currently considering
raising additional equity through a C share offering.


Enquiries



Babcock & Brown Investment Management Limited:        [phone]

Investors                     Bianca Francis
Media                         Anthony Kennaway


Heritage International Fund
Managers Limited, Secretary:                         [phone]

Laurence McNairn



This announcement does not constitute an offer of, or the solicitation of an
offer to buy or subscribe for, ordinary shares  to any person in any
jurisdiction to whom or in which such offer or solicitation is unlawful and, in
particular, is not for release, publication or distribution in or into the
United States, Australia, Canada or Japan.



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