BAM.A Brookfield Asset Management Inc

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


Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA) announced
today that it has agreed to issue to a syndicate of underwriters led by Scotia
Capital Inc., CIBC, RBC Capital Markets, and TD Securities Inc. for distribution
to the public 6,000,000 Preferred Shares, Series 24. The Preferred Shares,
Series 24 will be issued at a price of $25.00 per share, for aggregate gross
proceeds of CDN$150,000,000. Holders of the Preferred Shares, Series 24 will be
entitled to receive a cumulative quarterly fixed dividend yielding 5.40%
annually for the initial period ending June 30, 2016. Thereafter, the dividend
rate will be reset every five years at a rate equal to the 5-year Government of
Canada bond yield plus 2.30%.


Holders of Preferred Shares, Series 24 will have the right, at their option, to
convert their shares into cumulative Preferred Shares, Series 25, subject to
certain conditions, on June 30, 2016 and on June 30 every five years thereafter.
Holders of the Preferred Shares, Series 25 will be entitled to receive
cumulative quarterly floating dividends at a rate equal to the three-month
Government of Canada Treasury Bill yield plus 2.30%.


Brookfield Asset Management Inc. has granted the underwriters an option,
exercisable in whole or in part at least two days prior to closing, to purchase
an additional 2,000,000 Preferred Shares, Series 24 at the same offering price.
The Preferred Shares will be offered by way of prospectus supplement under the
short form base shelf prospectus of Brookfield Asset Management Inc. dated
January 12, 2009. The prospectus supplement will be filed with securities
regulatory authorities in all provinces of Canada.


The net proceeds of the issue will be added to the general funds of Brookfield
Asset Management Inc. and be used for general corporate purposes. The offering
is expected to close on or about January 14, 2010. 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.


About Brookfield Asset Management

Brookfield Asset Management Inc., focused on property, power and infrastructure
assets, has over US$90 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 identify forward-looking statements.
Forward-looking statements in this news release include statements in regards to
the issuance by Brookfield Asset Management of Preferred Shares, Series 24 and
to the use of proceeds of the preferred share issue 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 list of 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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