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 CIBC,
RBC Capital Markets, Scotia Capital Inc. and TD Securities Inc. for distribution
to the public 8,000,000 Preferred Shares, Series 26. The Preferred Shares,
Series 26 will be issued at a price of $25.00 per share, for aggregate gross
proceeds of CDN$200,000,000. Holders of the Preferred Shares, Series 26 will be
entitled to receive a cumulative quarterly fixed dividend yielding 4.50%
annually for the initial period ending March 31, 2017. Thereafter, the dividend
rate will be reset every five years at a rate equal to the 5-year Government of
Canada bond yield plus 2.31%.


Holders of Preferred Shares, Series 26 will have the right, at their option, to
convert their shares into cumulative Preferred Shares, Series 27, subject to
certain conditions, on March 31, 2017 and on March 31 every five years
thereafter. Holders of the Preferred Shares, Series 26 will be entitled to
receive cumulative quarterly floating dividends at a rate equal to the
three-month Government of Canada Treasury Bill yield plus 2.31%.


Brookfield Asset Management Inc. has granted the underwriters an option,
exercisable in whole or in part prior to closing, to purchase an additional
2,000,000 Preferred Shares, Series 26 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, as
amended. 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 October 29, 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$100 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.


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

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
harbour" provisions of the United States Private Securities Litigation Reform
Act of 1995 and in any applicable Canadian securities regulations. Conditional
verbs such as "may," "will," "can," "would," and "should," are predictions of or
indicate future events, trends or prospects or identify forward-looking
statements. Forward-looking statements in this news release include statements
with respect to the type and quality of the investments of the Fund and the
funding of Brookfield's commitment by Brookfield Infrastructure Partners LP,
which is subject to its approvals, in accordance with existing investment
policies. Although Brookfield Asset Management believes that its anticipated
future results, performance or achievements expressed or implied 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; 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; 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.

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