BABCOCK AND BROWN

[BIZ/LOG Sydney, Australia, April 23]
Babcock & Brown, a major investor in European infrastructures which include the port of Antwerp and Trilogiport in the Province of Liège, was placed into voluntary administration on March 13, 2009.

The appointment of administrators to Babcock & Brown Limited is not expected to have any material impact Babcock & Brown International Pty Ltd (BBIPL) the main operating and asset owning entity of the Babcock & Brown Group. BBIPL will continue to operate and will proceed with the orderly realization of assets over an approximate 2-3 year time horizon to reduce debt.

The management team will focus on ensuring that the value of assets and business platforms is preserved during this process and all assets and businesses continue to be managed appropriately and that all legal commitments and regulatory requirements are met.

Trading in shares in Babcock & Brown (ASX: BNB) and the Australian and New Zealand listed subordinated notes is suspended. It is expected that all these securities will be removed from the relevant Exchanges.
http://www.babcockbrown.com/