Babcock & Brown

Funds Platform - Recent Significant Achievements
• BBI grew distributions for the 12 month period to 30 June 2006 by 23.3% to 13.25¢ underpinned by:
- strong performances from Powerco, IEG and Dalrymple Bay;
- the completion of the acquisition of PD Ports in February 2006; and
- the acquisition of 51% of Westnet Rail.
Future growth is expected to be boosted by the refinancing and expansion of the Dalrymple Bay
Coal Terminal and the completion of the acquisition of the integrated energy utilities business,
NorthWestern in the US.
• BEI completed the acquisition of ethanol producer and developer Diversified Energy Group (Denco)
in the US which has outperformed expectations at the time of acquisition.
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