ASX Release 9 December 2008 APPOINTMENT AND RESIGNATION OF DIRECTORS Babcock & Brown Power (ASX:BBP) today announces several changes to the Boards of BBP - the appointment of BBP Chief Executive Officer, Ross Rolfe and the resignation of John Bowyer, a senior Babcock & Brown (ASX:BNB) executive. Ross Rolfe has also stepped down as a Director of the BBPM Board (the Manager Board). The appointment of the BBP CEO was foreshadowed in October 2008 following key changes to the Management Agreement terms. Effective today, the BBPL Board will comprise: • an Independent Chairman, Len Gill; • two Independent Directors, John Fletcher and Peter Kinsey; and • the BBP CEO, Ross Rolfe. BBP also advises that following the sale of Kwinana and Neerabup power stations, which is expected to be completed by the end of the calendar year, the revised 2009F EBITDA guidance is expected to be in the range of $330-340 million. Previous guidance was 2009F EBITDA $350-360 million, the difference being the contribution from Kwinana.
BBP Price at posting:
5.0¢ Sentiment: LT Buy Disclosure: Held
