BRASCAN SOUNDVEST FOCUSED BUSINESS TRUST

BRASCAN SOUNDVEST FOCUSED BUSINESS TRUST

August 24, 2005 16:49 ET

Brascan SoundVest Focused Business Trust Files Preliminary Prospectus

TORONTO, ONTARIO--(CCNMatthews - Aug. 24, 2005) - Brascan Focused Business Management Ltd., announced today the filing of a preliminary prospectus with the provincial securities regulators across Canada for the initial public offering of trust units of the Brascan SoundVest Focused Business Trust (the "Fund").

The Fund is an actively managed investment trust that will invest in a diversified portfolio comprised primarily of securities of business income trusts. The Fund's investment objectives are to provide stable monthly distributions and to maximize the long-term total return to unitholders.

"The launch of the Brascan SoundVest Focused Business Trust is the fourth Brascan SoundVest fund we've introduced to meet the needs of the growing retail market and its investors seeking high quality investments with stable distributions", commented Bruce Robertson, President and CEO, Brascan Focused Business Management Ltd.

Brascan Focused Business Management Ltd., an indirect wholly-owned subsidiary of Brascan Corporation (NYSE/TSX: BNN), will be responsible for the management of the Fund. SoundVest Capital Management Ltd., which is 50% owned by Brascan, will act as the investment advisor and portfolio manager.

The offering will be co-led by RBC Capital Markets and CIBC World Markets Inc. and includes a syndicate including BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Trilon Securities Corporation, Canaccord Capital Corporation, Raymond James Ltd., Desjardin Securities Inc., Dundee Securities Corporation, Wellington West Capital Inc., First Associates Investments Inc. and MGI Securities Inc. A copy of the preliminary prospectus may be obtained through www.sedar.com.

Note: This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe", "expect", "anticipate", "intend", "estimate" and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters identify forward looking statements. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those set forward in the forward looking statements include general economic conditions, interest rates, availability of equity and debt financing and other risks detailed from time to time in the company's 40-F filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Brascan Focused Business Management Ltd.
    Mr. Bruce Robertson
    President and Chief Executive Officer
    (416) 363-0061
    brobertson@brascanam.com