Brascan Asset Management Inc.

Brascan Asset Management Inc.

February 25, 2005 18:15 ET

Brascan SoundVest Rising Distribution Split Trust Files Final Prospectus


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BRASCAN ASSET MANAGEMENT INC.

FEBRUARY 25, 2005 - 18:15 ET

Brascan SoundVest Rising Distribution Split Trust
Files Final Prospectus

TORONTO, ONTARIO--(CCNMatthews - Feb. 25, 2005) - Brascan Asset
Management Inc. announced today the filing of a final prospectus with
the provincial securities regulators across Canada for the initial
public offering of trust units (the "Capital Units") and preferred
securities (the "Preferred Securities") of Brascan SoundVest Rising
Distribution Split Trust (the "Trust").

The Trust expects to actively invest in a diversified portfolio of 30 to
40 select income trusts with a focus on income trusts that the
Investment Advisor believes have the greatest potential to increase
annual distributions. The Trust will have a dual security structure,
consisting of Capital Units and Preferred Securities, offering investors
the flexibility to select the type of security and tax character for
distributions best suited to their investment needs.

The Trust will be managed by Brascan Rising Distribution Management
Ltd., a subsidiary of Brascan Asset Management. SoundVest Capital
Management Ltd., which is 50% owned by Brascan Asset Management, will
act as the investment advisor and portfolio manager of the Trust.
SoundVest Capital has consistently outperformed the S&P/TSX Capped
Income Trust Index, most recently by 34% over the 5-year average return
recorded by the S&P/TSX Capped Income Trust Index.

The Trust's Preferred Securities will bear interest at 6% per annum on
the original subscription price of $10.00, with interest payable
quarterly. The Trust's Capital Units target an annual yield of 9% for
the period ending December 31, 2005.

The offering is expected to close on March 16, 2005, at which time, the
Trust will be trading on the TSX under the symbol BSD.UN for the capital
units and BSD.PR.A for the preferred securities. On closing, the offer
is expected to generate gross proceeds of between C$125 million to C$350
million.

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

Brascan Asset Management is a leading North American asset manager
focused primarily on alternative investments. Brascan Asset Management
invests in industry sectors in which it is able to realize superior
risk-adjusted returns by leveraging the industry and operational
expertise of Brascan and capitalizing on the synergies across its
various funds. With $7 billion of assets under management, its clients
include pension funds, life insurance companies, financial institutions,
corporations and high net-worth individuals.

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.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Brascan Rising Distribution Management Ltd.
    Mr. Bruce Robertson
    President and Chief Executive Officer
    (416) 363-0061
    brobertson@brascanam.com