Babcock & Brown Announces BBPP Awarded Alberta Schools PPP Project; Largest Canadian Schools Project in History

    SAN FRANCISCO, Calif., Sept. 19 /CNW/ -- Babcock & Brown, a leading
global asset manager, today announced that Babcock & Brown Public Partnerships
Limited (LSE: BBPP) ("BBPP") has been awarded the Alberta Schools Project. The
project, which consists of a 32-year contract for the provision of 18 new
schools in Edmonton and Calgary, Canada, is the largest schools project in the
history of Canada.  Babcock & Brown acted as an advisor to BBPP.
    Alberta Schools is BBPP's second Canadian Public-Private Partnership
("P3") project and was commissioned by the Alberta Government through Alberta
Infrastructure.  The contract is for the design, construction, finance and
maintenance of nine schools in Edmonton and nine schools in Calgary.  The
schools are scheduled to complete construction in July 2010.  The concession
period is 32 years, including a 22-month construction period.
    "This historic project demonstrates Babcock & Brown's extensive
experience in developing and managing infrastructure projects, our ability to
continue to lead winning consortiums, and our continued success partnering
with the public sector," said Mike Garland, head of North American
infrastructure at Babcock & Brown.
    "We are very pleased to partner with the Government of Alberta on this
historic schools project," said Giles Frost of Babcock & Brown Public
Partners.  "We look forward to bringing our experience with P3 new schools
construction to the province and providing and maintaining quality learning
environments for Alberta's students."
    BBPP is investing 75% of the equity, with Gvest, an affiliate of Graham
Construction, providing the remaining 25%.  Graham Construction and Bird
Construction are the two contractors to the project.  Construction will be
undertaken under a typical fixed-price, fixed-time contract.  Honeywell will
provide the facilities management and maintenance services for the period of
the concession.
    About Babcock & Brown
    Babcock & Brown is a leading global alternative asset manager
specializing in the origination and management of asset in sectors where
Babcock & Brown has a leading franchise and proven track record, and where
there are opportunities to add scale: Infrastructure, Air Operating Leasing
and selected Real Estate.
    Babcock & Brown operates from 33 offices across Australia, North America,
Europe, Asia, United Arab Emirates and Africa and has in excess of 1,500
employees worldwide. The company has established a specialized funds and asset
management platform across the operating divisions that has resulted in the
establishment of a number of listed and unlisted focused investment vehicles
in areas including real estate, renewable energy and infrastructure. For
further information about Babcock & Brown please see our website:

     Matt Dallas
     Babcock & Brown


For further information:

For further information: Matt Dallas of Babcock & Brown,
+1-212-796-3918, Web Site:

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