Brookfield New Horizons Income Fund Announces Change to Annual Redemption Date

TORONTO, ONTARIO--(Marketwired - June 28, 2016) - Brookfield Investment Management (Canada) Inc. (the "Manager") hereby announces that Brookfield New Horizons Income Fund (CSE:BIF.UN) (the "Fund") has amended the Fund's declaration of trust in accordance with the terms thereof to change the annual redemption date from the last business day of November to the last business day of July (the "Annual Redemption Date"). The Manager determined to change the Annual Redemption Date in order to align it with the annual redemption date of another fund that has a substantially similar investment strategy and is also managed by the Manager.

Holders of units of the Fund (the "Units") will have an opportunity to redeem their Units in July of each year commencing in 2016 (the "Annual Redemption"). Units must be surrendered for redemption at least 15 days prior to the Annual Redemption Date (the "Notice Period") and no later than 5:00 p.m. (Toronto time) on July 14, 2016 to be redeemed pursuant to the 2016 Annual Redemption. Units properly surrendered for redemption during the Notice Period will be redeemed on the Annual Redemption Date and the redeeming unitholder will receive a redemption price per Unit equal to 100% of the net asset value per Unit as determined on the Annual Redemption Date. Payment of the redemption price will be made on or before the 15th Business Day of the following month. The July annual redemption will replace the annual redemption that would otherwise not be available until November.

As at May 31, 2016, there were 12,247,185 Units outstanding. The Manager has been informed that Partners Value Investments Inc. which owns 11,050,000 Units intends to participate in the upcoming 2016 Annual Redemption and to redeem all of its Units. The Manager expects that the aggregate redemption price payable to Partners Value Investments Inc. for such Units will be satisfied through delivery of portfolio assets of the Fund. The redemption of Units by Partners Value Investments Inc. will increase the annual fund operating expense ratio of the Fund.

Brookfield Investment Management (Canada) Inc., an affiliate of Brookfield Asset Management Inc. an affiliate of Brookfield Investment Management Inc. (collectively, the "Firm") is the manager and investment manager of the Fund.

The Firm provides real assets public securities strategies including global listed real estate and infrastructure equities as well as corporate credit and securitized credit. With over $16 billion of assets under management as of March 31, 2016, the Firm manages institutional separate accounts, registered funds and other investment products for clients, including financial institutions, public and private pension plans, insurance companies, endowments and foundations, sovereign wealth funds and high net-worth investors. Headquartered in New York, NY, the Firm and its affiliates also maintain offices in Boston, Chicago, London and Toronto.

The Fund uses its website as a channel of distribution of material company information. Financial and other material information regarding the Fund is routinely posted on and accessible at www.brookfieldim.com.

The Firm is a wholly-owned subsidiary of Brookfield Asset Management, a leading global alternative asset manager with $240 billion of assets under management as of March 31, 2016. For more information, go to www.Brookfield.com