News: BKN Bradken Ltd updates on acquisition speculation by the media

April 21 (Reuters) - Bradken Ltd (BKN) :

• Bradken Limited notes the speculation in today's Australian newspaper
• Proposal was not conditional on due diligence
• Confirm received an proposal from funds managed by Champ which would involve

  the subscription of new equity to the amount of $150 million

• Carefully considered the proposal and determined that it was not in the best

  interests of shareholders

• Confirms that underlying EBITDA for HY to 30 June 2016 is still expected to

  exceed underlying EBITDA of $51.9 million