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 the completion of its previously announced Preferred Shares, Series 26
issue in the amount of CDN$250-million. The offering was underwritten by a
syndicate of underwriters led by CIBC, RBC Capital Markets, Scotia Capital Inc.
and TD Securities Inc. 


Brookfield Asset Management issued 10,000,000 Preferred Shares, Series 26 at a
price of $25.00 per share, for aggregate gross proceeds of CDN$250,000,000.
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%. The Preferred Shares, Series 26 will commence trading on the Toronto
Stock Exchange on October 29, 2010 under the ticker symbol BAM.PR.T.


The net proceeds of the issue will be added to the general funds of Brookfield
Asset Management and be used for general corporate purposes. 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.

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",
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 use of proceeds of the preferred
share issue described in this news release. Although Brookfield Asset Management
believes that such 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; 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.

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