Brookfield Asset Management Inc.
TSX : BAM
NYSE : BAM
AEX : BAMA

Brookfield Asset Management Inc.

February 19, 2009 09:19 ET

Brookfield Bridge Lending Fund Acquires Common Shares of Second Wave Petroleum Ltd.

CALGARY, ALBERTA--(Marketwire - Feb. 18, 2009) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Brookfield Asset Management Inc. (NYSE:BAM)(TSX:BAM)(AEX:BAMA) announces that its bridge lending fund (the "Fund"), has acquired by way of private placement 5,757,575 common shares ("Common Shares") of Second Wave Petroleum Ltd. ("Second Wave") issued on a "flow-through" basis under the Income Tax Act (Canada) at a price of $0.66 per Common Share. The Fund now holds 24,647,120 Common Shares, or approximately 66.74% of the total issued and outstanding Common Shares.

About Brookfield Bridge Lending Fund

Brookfield Bridge Lending Fund offers tailored solutions to North American companies in need of interim capital. Through co-investment with our institutional investors, we are able to execute individual transactions of up to $1 billion without syndication conditions or market flex. The Fund is managed by Brookfield Asset Management Inc.

Contact

For additional information, or for a copy of the early warning report filed in respect of the above transaction, please contact:



Jim Reid
Brookfield Bridge Lending Fund Inc.
Suite 1700, 335-8th Avenue SW
Calgary Alberta T2P 1C9
tel: (403) 770-7215
Email: jreid@brookfield.com


NOTE: The statements in this press release concerning our future intentions regarding the Fund's investment in Second Wave Petroleum Ltd. Common Shares may contain forward-looking information and other "forward-looking statements", within the meaning of certain securities laws including Section 27A of the Securities Act of 1933, as amended, Section 21 E of the Securities Exchange Act of 1934, as amended, "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. We may make such statements in this release, in other filings with Canadian regulators or the SEC or in other communications. The reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors.

When relying on our forward-looking statements to make decisions with respect to Brookfield Asset Management Inc., investors and others should carefully consider the risks and factors detailed from time to time in the company's form 40-F filed with the Securities and Exchange Commission as well as other documents filed by the company with the securities regulators in Canada and the United States including in the Annual Information Form under the heading "Business Environment and Risks" and other uncertainties and potential events. The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Contact Information