Babcock & Brown Aircraft Management Delivers New Boeing 737-800 to Transavia France

SAN FRANCISCO, March 14 /PRNewswire/ -- Babcock & Brown Aircraft Management LLC (BBAM), the world's fifth largest lessor of commercial aircraft, today announced the delivery of a new Boeing 737-800 aircraft to Transavia France on March 4, 2008, at Boeing Field in Seattle, Washington.

"The delivery of this new Boeing 737-800 to Transavia France demonstrates Babcock & Brown's worldwide capabilities in providing international airlines with access to new commercial jet aircraft," said Steve Zissis, Chief Executive Officer at Babcock & Brown Aircraft Management. "We look forward to continuing our strong relationship with Transavia France."

The aircraft is the third of five new Boeing 737-800 aircraft that BBAM and its partner, Nomura Babcock & Brown Co., Ltd., have agreed to lease to Transavia France. The delivery of the first two aircraft occurred in May and June of 2007 and the final two aircraft are scheduled to be delivered in April and May of 2008.

Transavia France is 60 percent owned by Societe Air France and 40 percent owned by Transavia.com in the Netherlands. The airline operates scheduled passenger service from its base at Orly Airport (South) to various destinations around the Mediterranean.

About Babcock & Brown Aircraft Management

Babcock & Brown Aircraft Management LLC manages the world's fifth largest commercial jet fleet by value and has over 17 years of experience in aircraft origination and disposition, remarketing, leasing and technical management. Babcock & Brown Aircraft Management, which serves as an aircraft lessor, lease manager and remarketing agent, has a fleet of approximately 300 commercial aircraft with a total value of more than $7.3 billion that are leased to 72 airlines in 26 countries around the world.

About Babcock & Brown

Babcock & Brown is an international investment and specialized fund and asset management group with longstanding capabilities in structured finance and the creation, syndication and management of asset and cash flow-based investments. Babcock & Brown was founded in 1977 and is listed on the Australian Securities Exchange.

Babcock & Brown operates from 30 offices across Australia, North America, Europe, Asia, United Arab Emirates and Africa and has in excess of 1,400 employees worldwide. Babcock & Brown has four operating divisions including real estate, infrastructure, operating leasing, corporate and structured finance.

The company has established a funds management platform across the operating divisions that has resulted in the creation of a number of focused investment vehicles in areas including real estate, renewable energy and infrastructure. For further information about Babcock & Brown please see our website: http://www.babcockbrown.com.

     Further Information:
     Matt Dallas
     Babcock & Brown
     212-796-3918
     matt.dallas@babcockbrown.com