STRATEGIC REVIEW OF BABCOCK & BROWN CAPITAL
International investment and specialised fund and asset management group
Babcock & Brown (ASX: BNB) today advises that it is conducting a review of
its ownership and management rights in Babcock & Brown Capital (ASX: BCM),
and acknowledges the announcement today by BCM in relation to the review of
management arrangements.
Babcock & Brown is committed to having both listed and unlisted managed funds
in areas of core focus. BCM is managed by the Corporate & Structured Finance
Division which as announced on 21st August will gradually be wound down.
Babcock & Brown and the Independent Directors of BCM have agreed to implement
detailed protocols to govern discussions between the parties on the future
management of BCM. In the interim, these discussions will have no impact on
the ongoing management of BCM in the normal course of business.
Babcock & Brown remains committed to analysing all options to maximise value
for its interests in BCM whilst also recognising the interests of BCM
shareholders.
End CA:00169304 For:BNB Type:GENERAL Time:2008-08-28:11:53:57