is this worth a punt?

8 December 2008
ASX RELEASE
EVEREST BABCOCK & BROWN (EBB)
Wingate Group acquires strategic stake in EBB
Everest Babcock & Brown is pleased to confirm that the Wingate Group, a leading Melbourne
based private investment and advisory firm, has acquired a strategic stake of 19.9% in EBB.
Jeremy Reid, Chief Executive Officer of Everest said; “We are pleased to welcome the Wingate
Group as a substantial shareholder. We believe that there are significant opportunities to work
with the Wingate Group to further develop investment products and distribution”.
Commenting on today’s acquisition, Farrel Meltzer, founder and managing director of the
Wingate Group, said that it was an attractive opportunity to expand Wingate’s funds
management interests.
“We believe that funds management in Australia has a strong future and while the current
environment may be difficult for funds management businesses, this provides opportunities for
businesses such as ours.
“We know the management of Everest, and we will be taking a long-term approach to working
with them to grow the business to the benefit of all investors,” Mr Meltzer said.
Ends
About Everest Babcock & Brown Limited (EBB)
Everest Babcock & Brown is one of Australia’s leading absolute return managers. EBB
manages a number of absolute return funds and direct investment funds. EBB had billable
assets under management of AUD$2.4 billion at 30 September 2008
For further information please visit our website www.everest.com.au or contact: