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) today
announced that it has agreed to issue 8,000,000 Preferred Shares, Series 30 on a
bought deal basis to a syndicate of underwriters led by CIBC, RBC Capital
Markets, Scotia Capital Inc. and TD Securities Inc. for distribution to the
public. The Preferred Shares, Series 30 will be issued at a price of $25.00 per
share, for aggregate gross proceeds of CDN$175,000,000. Holders of the Preferred
Shares, Series 30 will be entitled to receive a cumulative quarterly fixed
dividend yielding 4.80% annually for the initial period ending December 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 2.96%.


Holders of Preferred Shares, Series 30 will have the right, at their option, to
convert their shares into cumulative Preferred Shares, Series 31, subject to
certain conditions, on December 31, 2017 and on December 31 every five years
thereafter. Holders of the Preferred Shares, Series 31 will be entitled to
receive cumulative quarterly floating dividends at a rate equal to the
three-month Government of Canada Treasury Bill yield plus 2.96%. 


Brookfield Asset Management Inc. has granted the underwriters an option,
exercisable until 48 hours prior to closing, to purchase up to an additional
3,000,000 Preferred Shares, Series 30 which, if exercised, would increase the
gross offering size to $250,000,000. The Preferred Shares will be offered in all
provinces of Canada by way of a supplement to Brookfield Asset Management Inc.'s
existing short form base shelf prospectus dated June 7, 2011. 


The net proceeds of the issue will 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. is a global alternative asset manager with
approximately $150 billion in assets under management. It has over a 100-year
history of owning and operating assets with a focus on real estate,
infrastructure, power and private equity. It has a range of public and private
investment products and services, which leverage its expertise and experience
and provide it with a distinct competitive advantage in the markets where it
operates. Brookfield is co-listed on the New York and Toronto Stock Exchanges
under the symbol BAM and on NYSE Euronext under the symbol BAMA. 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 issuance of the preferred shares
and the use of proceeds of such issuance. 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; conditions to closing in the
underwriting agreement; 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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