BAM.A Brookfield Asset Management Inc

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA) today
announced three financings totaling US$835 million, including the following: 


- a C$250 million (US$225 million) perpetual Class A Preferred Share, Series 22
issue at 7% with a five-year rate reset (the "Preferred Shares, Series 22"); 


- a Pounds Sterling 100 million (US$160 million), two-year bank facility for the
Company's European business; and,


- a C$500 million (US$450 million) senior unsecured debt financing at 8.95% with
a five-year term.


As a result of strong investor demand, the size of the Preferred Shares, Series
22 offering announced yesterday has been increased to an offering of 10,000,000
Preferred Shares, Series 22 at an offering price of C$25.00 per Preferred Share,
Series 22 with aggregate gross proceeds of C$250,000,000. The underwriters will
have an option, exercisable in whole or in part prior to closing, to purchase an
additional two million Preferred Shares, Series 22 at the same offering price.
The offering will be underwritten by a syndicate led by CIBC World Markets, RBC
Capital Markets, Scotia Capital Inc. and TD Securities Inc.


The C$500 million senior unsecured debt will be sold pursuant to an agreement
with a syndicate of agents led by CIBC World Markets Inc. and RBC Capital
Markets for distribution to the public. The debentures are being offered only in
Canada. The debentures will be offered by way of prospectus supplement under the
short form base shelf prospectus dated January 12, 2009. The prospectus
supplement will be filed with securities regulatory authorities in all provinces
of Canada.


The debentures are expected to be rated Baa2 by Moody's, A- by S&P, BBB+ by
Fitch and A (low) by DBRS. The net proceeds of the debentures will be used for
general corporate purposes. The offering is expected to close on or about June
2, 2009. The debentures 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.


"These financings are part of the Company's strategy to opportunistically access
the capital markets and maintain a strong liquidity position," said Brian
Lawson, Brookfield's Chief Financial Officer. "Liquidity in this environment
further enhances our financial flexibility and our ability to pursue a number of
opportunities."


About Brookfield Asset Management

Brookfield Asset Management Inc., focused on property, power and infrastructure
assets, has approximately US$80 billion of assets under management and is listed
on the New York and Toronto Stock Exchanges under the symbols BAM and BAM.A,
respectively, and on NYSE Euronext under the symbol BAMA. For more information,
please visit the Company's website at www.brookfield.com. 


Forward-looking Statements

Note: This news release contains forward-looking information within the meaning
of Canadian provincial securities laws and "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 words "will",
"expected", derivations thereof and other expressions that 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 news release include statements in regards to the strength of
our liquidity position and in respect of the closing of the debenture offering
and the use of proceeds of the financings described in this news release.
Although Brookfield Asset Management believes that its 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 as such statements and information 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;
availability of equity and debt financing; strategic actions including
dispositions; the ability to complete and effectively integrate acquisitions
into existing operations and the ability to attain expected benefits; tenant
renewal rates, availability of new tenants to fill office property vacancies,
tenant bankruptcies, adverse hydrology conditions; regulatory and political
factors within the countries in which the company operates; acts of God, such as
earthquakes and hurricanes; the possible impact of international conflicts and
other developments including terrorist acts; changes in accounting policies to
be adopted under International Financial Reporting Standards 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 including
the company's most recent Management's Discussion and Analysis of Financial
Results under the heading "Business Environment and Risks."


We caution that the foregoing 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, as a result of new information, future events or otherwise.


For more information, please visit our web site at www.brookfield.com.

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