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:
EBB Price at posting:
3.6¢ Sentiment: None Disclosure: Not Held