Brascan Adjustable Rate Trust I
TSX : BAO.UN

Brascan Adjustable Rate Trust I

September 23, 2005 16:09 ET

Brascan Adjustable Rate Trust I Announces First Distribution

TORONTO, ONTARIO--(CCNMatthews - Sept. 23, 2005) - Brascan Adjustable Rate Trust I (the "Fund") (TSX:BAO.UN) is pleased to announce its first monthly distribution of $0.145833 per trust unit, representing an annual yield of 7% based on the issue price of $25.00 per trust unit. The distribution will be payable on October 14, 2005 to unitholders of record on September 30, 2005.

Brascan Adjustable Rate Management Ltd., an indirect wholly-owned subsidiary of Brascan Corporation, will be responsible for the management of the Fund.

This news release contains forward looking information. Actual future results may differ materially. The risks, uncertainties and other factors that could influence actual results are described in the Brascan Adjustable Rate Trust I prospectus and other documents filed with regulatory authorities.

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