Brookfield Renewable Power Fund and Brookfield Renewable Power Preferred Equity Inc. Announce Adjournment of Special Meeting of Preferred Shareholders

TORONTO, ONTARIO--(Marketwire - Nov. 10, 2011) - Brookfield Renewable Power Fund (TSX:BRC.UN) ("Fund") and the Fund's wholly-owned subsidiary, Brookfield Renewable Power Preferred Equity Inc. (TSX:BRF.PR.A) ("BRP Equity") today announced that the special meeting of the holders of Class A Preference Shares, Series 1 (the "Preferred Shareholders") of BRP Equity to be held today has been adjourned due to a lack of quorum. The adjourned special meeting will occur on November 16, 2011 at 10:00 a.m. (Toronto time) at the offices of Torys LLP, located at 79 Wellington Street West, Toronto, Ontario, M5K 1N2, at which Preferred Shareholders will be asked to approve a proposed plan of arrangement (the "Arrangement"). The Arrangement will result in the previously announced strategic combination of the renewable power assets of Brookfield Renewable Power Inc. ("Brookfield Power") and the Fund to create Brookfield Renewable Energy Partners L.P. ("BREP"), a publicly-traded partnership focused on renewable power generation.

More than 99% of the votes cast to date by Preferred Shareholders were cast FOR the Arrangement.

Proxies for the adjourned special meeting must be received no later than 5:00 p.m. (Toronto time) on November 14, 2011. The record date for Preferred Shareholders entitled to vote at the adjourned special meeting remains the close of business on October 3, 2011. At the adjourned special meeting, quorum will consist of the Preferred Shareholders present in person or by proxy.

The board of directors of BRP Equity has unanimously approved the Arrangement and recommends that the Preferred Shareholders vote FOR the resolution approving the Arrangement. Preferred Shareholders are encouraged to read the management information circular for the special meeting, which contains detailed information about the arrangement resolution to be voted upon, and to vote their Class A Preference Shares, Series 1. A copy of the management information circular is available under BRP Equity's issuer profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com and on the Fund's website at www.brpfund.com.

Preferred Shareholders who have questions about the information contained in the management information circular or the arrangement resolution or who require assistance in completing the applicable form of proxy or voting instruction form, are encouraged to contact Phoenix Advisory Partners, the information agent, by telephone toll free at 1-800-243-5194 or by email at inquiries@phoenixadvisorypartners.com.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy the limited partnership units of BREP or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The securities to be offered by BREP have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. BREP intends to offer and sell its securities in the United States pursuant to the exemption from registration set forth in Section 3(a)(10) of the U.S. Securities Act.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements and information within the meaning of the Canadian securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Forward-looking statements in this news release include statements regarding the proposed combination of renewable power assets of Brookfield Power and the Fund as well as the creation of BREP and the approval, successful completion and timing of the transaction. Forward-looking statements can be identified by the use of words such as "will", "expected", "intend", "continue", and targets, or variations of such words and phrases. Although the Fund and BRP Equity believe that such forward-looking statements and information are based upon reasonable assumptions and expectations, they can give no assurance that such expectations will prove to have been correct. The reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of BREP 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, but are not limited to, the risk that the conditions precedent to be met, and the approvals to be obtained, for the Arrangement to occur, are not met or obtained. We caution that the foregoing important factors that may affect future results is not exhaustive. Except as required by law, neither the Fund nor BRP Equity undertakes any 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.

About Brookfield Renewable Power Fund

Brookfield Renewable Power Fund (www.brpfund.com) is a premier Canadian income fund and one of the largest power income funds in North America with more than 1,700 megawatts of power generating capacity and average annual production exceeding 6,500 gigawatt hours.

The Fund produces electricity exclusively from environmentally friendly and renewable resources, including 42 high quality hydroelectric generating stations and two wind farms in four distinct geographic regions across North America: Québec, Ontario, British Columbia and New England.

Brookfield Renewable Power Inc., which comprises most of the power operations of Brookfield Asset Management Inc., owns approximately 34% of the Fund's outstanding units on a fully exchanged basis.

The Fund's units are listed for trading on the Toronto Stock Exchange under the symbol BRC.UN.