Brascan SoundVest Rising Distribution Split Trust

Brascan SoundVest Rising Distribution Split Trust

March 11, 2010 16:35 ET

Proposed Changes to Brascan SoundVest Rising Distribution Split Trust

TORONTO, ONTARIO--(Marketwire - March 11, 2010) - Brookfield Investment Management (Canada) Inc., (the "Manager") today announced a proposal to make amendments to the declaration of trust of its fund Brascan SoundVest Rising Distribution Split Trust (TSX:BSD.UN) (the "Fund"), as well as to change the Fund's manager, and to rename the Fund "Brookfield Soundvest Split Trust".

The proposal, which requires approval by the capital unitholders of the Fund, would result in a change to the existing investment strategy. It is proposed that the Fund's investment mandate be expanded to allow investment in a broader set of primarily high yielding equity securities. The investment objectives will remain the same: for holders of preferred securities, to provide fixed quarterly interest payments and repay the original subscription price at maturity; and for holders of capital units, to provide a regular stream of monthly distributions and to maximize long-term total return.

The Manager believes that expanding the investment flexibility of the Fund will permit it to invest in a broader range of securities to off-set the reduction in the number of income trust investments resulting from the Canadian Federal Government's decision announced on October 31, 2006 to change the way that income trusts are to be taxed, effective January 1, 2011.

Costs of making these changes including the preparation of materials for and the holding of unitholder meetings will be borne by the Manager. If the extraordinary resolutions are approved, then the Fund will bear any costs associated with repositioning its investment portfolio to reflect the amended investment strategies and restrictions.

The Manager has called a meeting of Fund capital unitholders for 10:00 a.m. on April 20, 2010 to consider the extraordinary resolutions being proposed. It is expected that materials for this meeting, which will provide further details on the proposals, will be available no later than three weeks prior to the date of the meeting and will be delivered to investors who hold capital units in the Fund as of the official record date, which is March 12, 2010.

Subject to capital unitholder and regulatory approval, review by the Funds' independent review committee, and other closing conditions, the changes are expected to be completed by April 30, 2010.

Brascan SoundVest Rising Distribution Split Trust focuses on capital preservation and long-term total return. The investment advisor and portfolio manager for the Fund is Brookfield Soundvest Capital Management Ltd., which is 50% owned by Brookfield Asset Management Inc. Brookfield Soundvest is an established investment advisor, providing investment management services to trusts, foundations, corporations and high net worth individuals.

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About Forward-looking Information

Note: This news release contains forward-looking information within the meaning of Canadian provincial securities laws. The words "proposed", "will", "believes", and other expressions, which are predictions of, or indicate, future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release include statements with respect the Manager's beliefs, outlooks, plans, expectations and intentions. Although the Manager believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of the Fund are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of the Fund to differ materially from those contemplated or implied by the statements in this news release include changes in legislation including tax laws and regulations and other risks and factors described in the documents filed by the Manager with the securities regulators in Canada including under the heading "Risk Factors" in the Fund's prospectus and most recently filed Management Report of Fund Performance and Annual Information Form and other risks and factors described in the continuous disclosure documents of the Fund available at or Except as required by law, the Manager undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

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