SOURCE: Brookfield Infrastructure Partners L.P.

February 21, 2008 08:17 ET

Brookfield Infrastructure Partners Announces Fourth Quarter and Year-End Results

HAMILTON, BERMUDA--(Marketwire - February 21, 2008) - Brookfield Infrastructure Partners L.P. (the "Partnership") (NYSE: BIP) today announced results for the fourth quarter ended December 31, 2007 for Brookfield Infrastructure L.P. ("Brookfield Infrastructure").

The Partnership's sole material asset is its 60% limited partnership interest in Brookfield Infrastructure, which the Partnership accounts for using the equity method. As a result, the Partnership believes the financial statements of Brookfield Infrastructure are more relevant because they reflect the financial position and results of the Partnership's underlying operations in greater detail than results for the Partnership.

Pro forma net income and pro forma adjusted net operating income(1) ("ANOI") for Brookfield Infrastructure totalled $4.0 million ($0.10 per unit) for the fourth quarter of 2007, compared with $17.6 million ($0.46 per unit) reported in the same quarter last year. Pro forma ANOI for Brookfield Infrastructure for the full year was $46.1 million, compared with $58.0 million in 2006.

Results discussed in this press release are pro forma as Brookfield Infrastructure acquired its interests in its underlying operations in December 2007. The pro forma results reflect Brookfield Infrastructure's existing operations, the results for the Ontario transmission system which is expected to be transferred to it in the first quarter of 2008, as well as an increase in Brookfield Infrastructure's ownership interest in its Chilean transmission system expected to be finalized in the first half of 2008.

The following table presents the pro forma results for Brookfield Infrastructure on a total and per unit basis.

                                     Three months          Year ended
US$ millions (except per unit      ended December 31      December 31
 amounts)                            2007      2006      2007      2006
                                   -------   --------  --------  --------
ANOI                               $   4.0   $   17.6  $   46.1  $   58.0
  -  per unit                      $  0.10   $   0.46  $   1.20  $   1.51
Net income (loss)                  $ (12.4)  $    9.4  $   10.4  $   17.9
  -  per unit                      $ (0.32)  $   0.24  $   0.27  $   0.46
                                   -------   --------  --------  --------

1) ANOI is equal to net income plus depreciation, depletion and
   amortization, deferred taxes and certain other items. A reconciliation
   to net income is provided in Appendix 1 on page 8.

"Brookfield Infrastructure's performance for the last quarter of the year was in line with expectations," said Mr. Pollock, Co-Chief Executive Officer of Brookfield's infrastructure group. "Strong results from our transmission business were offset by weaker results at our timber operations which were impacted by the downturn in the U.S. housing market and a strike at our Canadian operations that has since been resolved. While we expect to see softness in the U.S. timber market in the near term, we are encouraged by prospects in the Asian market, which both of our timber operations can access due to their coastal location, as well as attractive medium-to-long term prospects in the U.S. market."

Mr. Regent, Co-Chief Executive Officer of Brookfield's infrastructure group, added, "With the creation of Brookfield Infrastructure, we are very well positioned to participate in the rapid growth of the infrastructure industry on a global basis. As we build our business, we look forward to acquiring high quality infrastructure operations to complement the premier electricity transmission and timber assets that we currently own."

Appointment of new Director

The Partnership is pleased to announce the appointment of Jonathan Hagger to the Board of Directors of the general partner of the Partnership. Mr. Hagger is Chief Financial Officer of Grosvenor Estate, the investment holding organization of the Duke of Westminster, which includes the worldwide real estate operations of the Grosvenor Group. Prior to his current position, Mr. Hagger was Group Finance Director of Grosvenor Group for 15 years until 2006. Prior to that, Mr. Hagger held a number of senior Board positions in the insurance industry. Mr. Hagger is a Fellow of both the Institute of Chartered Accountants in England and Wales and the Association of Corporate Treasurers, and serves on several non-profit Boards.

Distribution Declaration

As previously disclosed, the Board of Directors of the general partner of the Partnership has declared an initial quarterly distribution in the amount of US$0.0882 per unit, payable on March 31, 2008 to unitholders of record as at the close of business on February 29, 2008. This distribution amount has been pro-rated for the period between the spin-off of the Partnership on January 31, 2008 and the record date of the distribution based on the Partnership's initial quarterly distribution of US$0.265 per unit.

Information on the Partnership's declared distributions can be found on the Partnership's web site under Investor Relations/Distributions.

Additional Information

The Letter to Unitholders and the Supplemental Financial Information for the quarter ended December 31, 2007 contain further information on Brookfield Infrastructure's strategy, operations and financial results. Unitholders are encouraged to read these documents, which are available at www.brookfieldinfrastructure.com.

Brookfield Infrastructure Partners L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis. Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Its current business consists of the ownership and operation of premier electricity transmission systems and timberlands in North and South America, and it seeks acquisition opportunities in other infrastructure sectors with similar attributes. Brookfield Infrastructure's units trade on the New York Stock Exchange under the symbol BIP. For more information, please visit Brookfield Infrastructure Partners' web site at www.brookfieldinfrastructure.com.

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. Forward-looking statements in this press release include statements about the medium and longer-term prospects for the U.S. timber market, prospects in the Asian market and Brookfield Infrastructure's plans for growth through acquisitions. The words "expect," "positioned," "build," "prospects," and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify the above mentioned and other forward-looking statements. Although Brookfield Infrastructure Partners believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this press release. The future performance and prospects of Brookfield Infrastructure are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied by the statements in this press release include general economic conditions in the United States and elsewhere, which may impact the markets for timber, the fact that success of Brookfield Infrastructure is dependant on market demand for an infrastructure company, which is unknown, the availability of equity and debt financing for Brookfield Infrastructure, the ability to effectively complete new acquisitions in the competitive infrastructure space and to integrate acquisitions into existing operations, and other risks and factors described in the documents filed by Brookfield Infrastructure with the securities regulators in Canada and the United States including under "Risk Factors" in the registration statement filed in connection with the distribution of the Partnership's units and other risks and factors that are described in the registration statement. Except as required by law, the Partnership undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

                     Brookfield Infrastructure L.P.
                  Pro Forma* Balance Sheet Information

                                                                     As at
(unaudited, in millions of U.S. dollars)                 December 31, 2007
--------------------------------------------------------------------------

Assets
------
Cash and cash equivalents                                     $       31.6
Accounts receivable                                                    3.2
Property, plant and equipment                                        220.9
Cost accounted investments                                           163.2
Equity accounted investments                                         606.6
--------------------------------------------------------------------------
Total assets                                                  $    1,025.5
==========================================================================

Liabilities and partnership capital
-----------------------------------
Accounts payable and other liabilities                        $       25.7
Non-recourse borrowings                                              115.0
Deferred tax liabilities                                              19.4
Preferred Shares                                                      20.0
Redeemable partnership units                                         329.7
Partnership capital                                                  515.7
--------------------------------------------------------------------------
Total liabilities and partnership capital                     $    1,025.5
==========================================================================

*The pro forma balance sheet information for Brookfield Infrastructure, set forth above (of which a reconciliation to historical information is provided in Appendix 2 on page 9), reflects Brookfield Infrastructure's balance sheet as at December 31, 2007 and gives effect to the following transactions as if each occurred as at December 31, 2007:

--  The investment of approximately $103 million of equity into Brookfield
    Infrastructure's Chilean transmission operations to fund an adjustment to
    the original purchase price that resulted from an increase in its regulated
    asset value following resolution of its recent regulatory proceeding. As a
    result of Brookfield Infrastructure's disproportionate funding of such
    equity investment, its ownership percentage will increase from 10.7% to
    approximately 17.3%, which is anticipated to occur in the first half of
    2008; and
--  The transfer of a 100% ownership interest in the Ontario transmission
    operations of Great Lakes Power Limited. Brookfield Infrastructure has
    received regulatory approval for the transfer, which is anticipated to
    close in the first quarter of 2008.
    

The pro forma balance sheet information has been prepared based upon currently available information and assumptions deemed appropriate by management. These statements are provided for information purposes only and may not be indicative of the results that would have occurred if transactions had been effected on the dates indicated.

                      Brookfield Infrastructure L.P.
              Pro Forma* Statements of Operations Information


                                          Three months
                                              ended          Year ended
(unaudited, in millions of U.S.            December 31       December 31
 dollars)                                 2007     2006     2007     2006
                                        -------  -------  -------  -------

Revenues                                $   8.8  $   8.3  $  33.2  $  29.9
Costs and expenses applicable to
 revenues                                  (0.7)    (0.6)    (1.5)    (1.3)
Selling, general and administrative
 expenses                                  (4.7)    (3.7)   (15.4)   (14.5)
Other income (expenses)                    (0.6)     0.5     (1.5)    (0.9)
Equity accounted earnings (losses)        (15.4)     7.3    (13.0)     9.7
Investment income                           0.5      2.8     16.0     11.2
Interest expense                           (2.1)    (2.2)    (8.1)    (6.9)
                                        -------  -------  -------  -------
Income (loss) before taxes              $ (14.2) $  12.4  $   9.7  $  27.2
Current taxes                              (0.9)    (0.6)    (4.9)    (4.7)
Depreciation and amortization              (1.6)    (2.0)    (5.7)    (4.7)
Deferred taxes and other                    4.3     (0.4)    11.3      0.1
                                        -------  -------  -------  -------
Net income (loss)                       $ (12.4) $   9.4  $  10.4  $  17.9
                                        =======  =======  =======  =======

*The pro forma statement of operations information of Brookfield Infrastructure for the years ended December 31, 2007 and 2006, set forth above (of which a reconciliation to historical information is provided in Appendix 3 on page 10), reflects the results of Brookfield Infrastructure's current operations as if Brookfield Infrastructure owned such operations as of January 1, 2006 and gives effect to the following transactions as if each occurred as of January 1, 2006:

--  The investment of approximately $103 million of equity into Brookfield
    Infrastructure's Chilean transmission operations to fund an adjustment to
    the original purchase price that resulted from an increase in its regulated
    asset value following resolution of its recent regulatory proceeding. As a
    result of Brookfield Infrastructure's disproportionate funding of such
    equity investment, its ownership percentage will increase from 10.7% to
    approximately 17.3%, which is anticipated to occur in the first half of
    2008;
--  The transfer of a 100% ownership interest in the Ontario transmission
    operations of Great Lakes Power Limited. Brookfield Infrastructure has
    received regulatory approval for the transfer, which is anticipated to
    close in the first quarter of 2008;
--  The transfer of a 30% ownership interest in Longview's operations;
--  The transfer of interests ranging from 7% to 18% in five separate, but
    related, Brazilian electricity transmission investments, which are
    collectively referred to as TBE; and,
--  The spin-off and related transactions, including entry into our Master
    Services Agreement.
    

The pro forma statement of operations information has been prepared based upon currently available information and assumptions deemed appropriate by management. This information is provided for information purposes only and may not be indicative of the results that would have occurred if the spin-off of Brookfield Infrastructure and other transactions had been effected on the dates indicated.

               Brookfield Infrastructure Partners L.P.
                Pro Forma* Balance Sheet Information

                                                                 As at
(unaudited, in millions of U.S. dollars)             December 31, 2007

Assets
------
----------------------------------------------------------------------
Investment in Brookfield Infrastructure
 Limited Partnership                                     $       507.2
----------------------------------------------------------------------

Equity
------
----------------------------------------------------------------------
Unitholders' equity                                      $       507.2
======================================================================

*The Partnership's sole material asset is its 60% limited partnership interest in Brookfield Infrastructure, which it accounts for using the equity method. As a result, the Partnership's pro forma balance sheet information reflects 60% of Brookfield Infrastructure's pro forma balance sheet information (see page 4).

              Brookfield Infrastructure Partners L.P.
          Pro Forma* Statement of Operations Information

                                    Three months ended      Year ended
                                       December 31          December 31
                                     2007       2006      2007      2006
                                    -------    ------    ------    ------
(unaudited, in millions
 of U.S. dollars)

Share of Brookfield Infrastructure
 Partners Limited Income (loss)     $  (7.4)   $  5.6    $  6.2    $ 10.7
                                    -------    ------    ------    ------
Net income (loss)                   $  (7.4)   $  5.6    $  6.2    $ 10.7
                                    =======    ======    ======    ======

*The Partnership's sole material asset is its 60% limited partnership interest in Brookfield Infrastructure, which it accounts for using the equity method. As a result, the Partnership's pro forma statement of operations information reflects 60% of Brookfield Infrastructure's pro forma statement of operations information (see page 5).

Investors, analysts and other interested parties can access Brookfield Infrastructure Partners' 2007 fourth quarter results as well as the Unitholders' Letter and Supplemental Financial Information on Brookfield Infrastructure's web site under the Investor Relations section at www.brookfieldinfrastructure.com.

The Fourth Quarter 2007 Results conference call can be accessed via webcast on February 21, 2008 at 11:00 a.m. EST at www.brookfieldinfrastructure.com or via teleconference at 1-800-319-4610 toll free in North America. For overseas calls please dial 1-412-858-4600, at approximately 10:50 a.m. EST. The teleconference taped rebroadcast can be accessed at 1-800-319-6413 (password: 9245#).

                                Appendix 1

                      Brookfield Infrastructure L.P.
      Reconciliation of Pro Forma Statement of Operations Information

The following table reconciles net income to adjusted net operating income.
In doing so, we add back to net income the amounts recorded in respect of
depreciation, depletion and amortization, deferred taxes and certain other
                                  items.

                                       Three Months       Years Ended
                                     Ended December 31    December 31
                                     -----------------  ----------------
(unaudited, in millions of U.S.
 dollars)                              2007     2006      2007     2006
                                     -------  --------  -------  -------
Net income (loss)                    $ (12.4) $    9.4  $  10.4  $  17.9
Add back or deduct the following:
Depreciation, depletion and
 amortization                           11.9       7.4     46.0     28.7
Deferred taxes                          (4.6)      0.7    (21.2)    (3.6)
Other non-cash items                     9.1       0.1     10.9     15.0
                                     -------  --------  -------  -------
Adjusted net operating income        $   4.0  $   17.6  $  46.1  $  58.0
                                     =======  ========  =======  =======



                                Appendix 2

                      Brookfield Infrastructure L.P.
          Reconciliation of Pro Forma Balance Sheet Information
                          As at December 31, 2007

                                                                Pro Forma
                                     Adjustment - Adjustments    Balance
(unaudited, in millions              Transelec VI  - Ontario      Sheet
 of U.S. dollars)         Historical adjustment   Transmission Information
                          ---------- ------------ ------------ ------------
Assets
Cash and cash equivalents $     20.0 $          - $       11.6 $       31.6
Accounts receivable and
 other                             -            -          3.2          3.2
Property plant and
 equipment                         -            -        220.9        220.9
Cost accounted
 investments                   163.2            -            -        163.2
Equity accounted
 investments                   503.9        102.7            -        606.6
                          ---------- ------------ ------------ ------------
Total assets              $    687.1 $      102.7 $      235.7 $    1,025.5
                          ========== ============ ============ ============

Liabilities and
 partnership capital
Accounts payable and
 other liabilities        $        - $          - $       25.7 $       25.7
Non-recourse borrowings            -            -        115.0        115.0
Deferred tax liabilities           -            -         19.4         19.4
Preferred shares                20.0            -            -         20.0
Redeemable partnership
 units                         260.2         40.1         29.5        329.7
Partnership capital            406.9         62.6         46.1        515.7
                          ---------- ------------ ------------ ------------
Total liabilities and
 partnership capital      $    687.1 $      102.7 $      235.7 $    1,025.5
                          ========== ============ ============ ============



                                Appendix 3

                      Brookfield Infrastructure L.P.
      Reconciliation of Pro Forma Statement of Operations Information
                   Three months ended December 31, 2007

                                        Adjustment -
                                        Transelec VI
                                        adjustment               Adjustment
(unaudited, in millions of              and increase Adjustments   - TBE
 U.S. dollars)              Historical  in ownership - Longview  dividends
                            ----------  ------------ ----------- ----------

Revenues                    $        -  $          - $         - $        -
Costs and expenses
 applicable to revenues              -             -           -          -
Selling, general and
 administrative expenses             -             -           -          -
Other income (expense)               -             -           -          -
Equity accounted earnings
 (losses)                        (14.8)          0.6           -          -
Investment income                  0.5             -           -          -
Interest expense                     -             -           -          -
                            ----------  ------------ ----------- ----------
Income (loss) before taxes  $    (14.3) $        0.6 $         - $        -
Current taxes                        -             -           -          -
Depreciation and
 amortization                        -             -           -          -
Deferred taxes and other             -             -           -          -
                            ----------  ------------ ----------- ----------
Net income (loss)           $    (14.3) $        0.6 $         - $        -
                            ==========  ============ =========== ==========

                                                        Pro Forma
                                                        Statement
                            Adjustments                    of
(unaudited, in millions of    - Ontario   Adjustments  Operations
 U.S. dollars)              Transmission  - Corporate  Information
                            ------------  -----------  -----------

Revenues                    $        8.8  $         -  $       8.8
Costs and expenses
 applicable to revenues             (0.7)           -         (0.7)
Selling, general and
 administrative expenses            (2.0)        (2.7)        (4.7)
Other income (expense)              (0.6)           -         (0.6)
Equity accounted earnings
 (losses)                              -            -        (14.2)
Investment income                      -            -          0.5
Interest expense                    (1.8)        (0.3)        (2.1)
                            ------------  -----------  -----------
Income (loss) before taxes  $        3.7  $      (3.0) $     (13.0)
Current taxes                       (0.9)           -         (0.9)
Depreciation and
 amortization                       (1.6)           -         (1.6)
Deferred taxes and other             2.5          1.8          4.3
                            ------------  -----------  -----------
Net income (loss)           $        3.7  $      (1.2) $     (11.2)
                            ============  ===========  ===========


      Reconciliation of Pro Forma Statement of Operations Information
                   Three months ended December 31, 2006

                                        Adjustment -
                                        Transelec VI
                                        adjustment               Adjustment
(unaudited, in millions of              and increase Adjustments   - TBE
 U.S. dollars)              Historical  in ownership - Longview  dividends
                            ----------- ------------ ----------- ----------
Assets
Revenues                    $         - $          - $         - $        -
Costs and expenses
 applicable to revenues               -            -           -          -
Selling, general and
 administrative expenses              -            -           -          -
Other income (expense)                -            -           -          -
Equity accounted earnings
 (losses)                           1.8          3.5         2.0          -
Investment income                     -            -           -        2.8
Interest expense                      -            -           -          -
                            ----------- ------------ ----------- ----------
Income (loss) before taxes  $       1.8 $        3.5 $       2.0 $      2.8
Current taxes                         -            -           -          -
Depreciation and
 amortization                         -            -           -          -
Deferred taxes and other              -            -           -          -
                            ----------- ------------ ----------- ----------
Net income (loss)           $       1.8 $        3.5 $       2.0 $      2.8
                            =========== ============ =========== ==========

                                                        Pro Forma
                                                        Statement
                            Adjustments                    of
(unaudited, in millions of    - Ontario   Adjustments  Operations
 U.S. dollars)              Transmission  - Corporate  Information
                            ------------  -----------  -----------
Assets
Revenues                    $        8.3  $         -  $       8.3
Costs and expenses
 applicable to revenues             (0.6)           -         (0.6)
Selling, general and
 administrative expenses            (1.0)        (2.7)        (3.7)
Other income (expense)               0.5            -          0.5
Equity accounted earnings
 (losses)                              -            -          7.3
Investment income                      -            -          2.8
Interest expense                    (1.9)        (0.3)        (2.2)
                            ------------  -----------  -----------
Income (loss) before taxes  $        5.3  $      (3.0) $      12.4
Current taxes                       (0.6)           -         (0.6)
Depreciation and
 amortization                       (2.0)           -         (2.0)
Deferred taxes and other               -         (0.4)        (0.4)
                            ------------  -----------  -----------
Net income (loss)           $        2.7  $      (3.4) $       9.4
                            ============  ===========  ===========


                      Brookfield Infrastructure L.P.
      Reconciliation of Pro Forma Statement of Operations Information
                  Twelve months ended December 31, 2007

                                        Adjustment -
                                        Transelec VI
                                        adjustment   Adjustmen-  Adjustment
(unaudited, in millions of              and increase    ts -       - TBE
 U.S. dollars)              Historical  in ownership  Longview   dividends
                            ----------  ------------ ----------  ----------
Assets
Revenues                    $        -  $          - $        -  $        -
Costs and expenses
 applicable to revenues              -             -          -           -
Selling, general and
 administrative expenses             -             -          -           -
Other income (expense)               -             -          -           -
Equity accounted earnings
 (losses)                         (9.7)          1.7       (5.0)          -
Investment income                  0.5             -          -        15.5
Interest expense                     -             -          -           -
                            ----------  ------------ ----------  ----------
Income (loss) before taxes  $     (9.2) $        1.7 $     (5.0) $     15.5
Current taxes                        -             -          -           -
Depreciation and
 amortization                        -             -          -           -
Deferred taxes and other             -             -          -           -
                            ----------  ------------ ----------  ----------
Net income (loss)           $     (9.2) $        1.7 $     (5.0) $     15.5
                            ==========  ============ ==========  ==========

                                                        Pro Forma
                                                        Statement
                            Adjustments                    of
(unaudited, in millions of    - Ontario   Adjustments  Operations
 U.S. dollars)              Transmission  - Corporate  Information
                            ------------  -----------  -----------
Assets
Revenues                    $       33.2  $         -  $      33.2
Costs and expenses
 applicable to revenues             (1.5)           -         (1.5)
Selling, general and
 administrative expenses            (4.8)       (10.6)       (15.4)
Other income (expense)              (1.5)           -         (1.5)
Equity accounted earnings
 (losses)                              -            -        (13.0)
Investment income                      -            -         16.0
Interest expense                    (6.9)        (1.2)        (8.1)
                            ------------  -----------  -----------
Income (loss) before taxes  $       18.5  $     (11.8) $       9.7
Current taxes                       (4.9)           -         (4.9)
Depreciation and
 amortization                       (5.7)           -         (5.7)
Deferred taxes and other             2.1          9.2         11.3
                            ------------  -----------  -----------
Net income (loss)           $       10.0  $      (2.6) $      10.4
                            ============  ===========  ===========


      Reconciliation of Pro Forma Statement of Operations Information
                  Twelve months ended December 31, 2006

                                        Adjustment -
                                        Transelec VI
                                        adjustment,
                                        increase in
                                       ownership and             Adjustment
(unaudited, in millions of               full year   Adjustments   - TBE
 U.S. dollars)              Historical   operations   - Longview  dividends
                            ----------  ------------ ----------- ----------
Assets
Revenues                    $        -  $          - $         - $        -
Costs and expenses
 applicable to revenues              -             -           -          -
Selling, general and
 administrative expenses             -             -           -          -
Other income (expense)               -             -           -          -
Equity accounted earnings
 (losses)                         (3.3)          5.0         8.0          -
Investment income                    -             -           -       11.2
Interest expense                     -             -           -          -
                            ----------  ------------ ----------- ----------
Income (loss) before taxes  $     (3.3) $        5.0 $       8.0 $     11.2
Current taxes                        -             -           -          -
Depreciation and
 amortization                        -             -           -          -
Deferred taxes and other             -             -           -          -
                            ----------  ------------ ----------- ----------
Net income (loss)           $     (3.3) $        5.0 $       8.0 $     11.2
                            ==========  ============ =========== ==========

                                                        Pro Forma
                                                        Statement
                            Adjustments                    of
(unaudited, in millions of    - Ontario   Adjustments  Operations
 U.S. dollars)              Transmission  - Corporate  Information
                            ------------  -----------  -----------
Assets
Revenues                    $       29.9  $         -  $      29.9
Costs and expenses
 applicable to revenues             (1.3)           -         (1.3)
Selling, general and
 administrative expenses            (3.9)       (10.6)       (14.5)
Other income (expense)              (0.9)           -         (0.9)
Equity accounted earnings
 (losses)                              -            -          9.7
Investment income                      -            -         11.2
Interest expense                    (5.7)        (1.2)        (6.9)
                            ------------  -----------  -----------
Income (loss) before taxes  $       18.1  $     (11.8) $      27.2
Current taxes                       (4.7)           -         (4.7)
Depreciation and
 amortization                       (4.7)           -         (4.7)
Deferred taxes and other             1.5         (1.4)         0.1
                            ------------  -----------  -----------
Net income (loss)           $       10.2  $     (13.2) $      17.9
                            ============  ===========  ===========

Contact Information

  • For more information, please contact:

    Investors:
    Tracey Wise
    Vice President, Investor Relations & Communications
    Brookfield Asset Management
    Tel: 416-956-5154
    Email: Email Contact

    Media:
    Denis Couture
    Senior Vice President, Investor Relations, Corporate & International
    Affairs
    Brookfield Asset Management
    Tel: 416-956-5189
    Email: Email Contact