Brookfield Asset Management Inc.

Brookfield Asset Management Inc.

June 25, 2008 09:47 ET

Brookfield Completes C$150 Million Preferred Share Issue

TORONTO, ONTARIO--(Marketwire - June 25, 2008) - Brookfield Asset Management Inc. (TSX:BAM)(NYSE:BAM) announced today the completion of its previously-announced Class A Series 21 preference share issue in the amount of C$150 million.

Brookfield Asset Management Inc. issued 6 million Cumulative Class A Preference Shares, Series 21, at a price of C$25 per share with a yield of 5.00% per annum. The net proceeds will be utilized for general corporate purposes. The Series 21 Preference Shares will commence trading on the Toronto Stock Exchange on June 25, 2008 under the symbol BAM.PR.O.

The preferred shares may not be offered or sold in the United States or to U.S. Persons absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act of 1933, as amended.

Brookfield Asset Management Inc., focused on property, power and infrastructure assets, has approximately $95 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and on Euronext under the symbol BAMA. For more information, please visit our web site at

Note: This press release contains forward-looking information within the meaning of Canadian provincial securities laws and other "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. 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. The word "will" and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Forward looking statements in this press release include statements in regards to the use of proceeds of the preferred share issue. Although Brookfield Asset Management believes that the company's anticipated future results, performance or achievements expressed or implied of such assets by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information 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 and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: economic and financial conditions in the countries in which we do business; the behaviour of financial markets, including fluctuations in interest and exchange rates; and other 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 included in the Annual Information Form under the heading "Business Environment and Risks".

We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Brookfield Asset Management, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, 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.

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