Brascan Adjustable Rate Trust I
TSX : BAO.UN

Brascan Adjustable Rate Trust I

March 31, 2006 17:57 ET

Brascan Adjustable Rate Management Ltd. Announces Filing of Annual Results For Brascan Adjustable Rate Trust I

TORONTO, ONTARIO--(CCNMatthews - March 31, 2006) - Brascan Adjustable Rate Management Ltd. today announced the filing of its first annual report for the Brascan Adjustable Rate Trust I ("the Fund")(TSX:BAO.UN). The report is available on the Funds' website at www.brascanfunds.com and on www.sedar.com.

The Fund also announced it has filed the interim financial statements and management report of fund performance for the BAR Investment Trust for the quarter ended September 30, 2005 and re-filed the interim financial statements and management reports of fund performance for the Fund and the Brascan Adjustable Rate Limited Partnership (the "Partnership") for the quarter ended September 30, 2005. The principal reason for the re-filing of the interim financial statements and management reports was to correct certain disclosure information contained in these Reports concerning the operations and management of the Fund and Partnership. These corrections do not affect the results of the Trust's performance previously reported to investors.

Brascan Adjustable Rate Trust I has exposure, on a leveraged basis, to a portfolio of adjustable rate and hybrid mortgaged backed securities and asset backed securities held by Brascan Adjustable Rate Limited Partnership. The Fund is managed by Brascan Adjustable Rate Management Ltd., an indirect wholly-owned subsidiary of Brookfield Asset Management Inc.

For further information, please visit our website at: www.brascanfunds.com

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