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
advised that, in connection with its recently-announced public offering of
10,000,000 Class A Preference Shares, Series 32, the underwriters have exercised
their option (the "Underwriters' Option") to purchase an additional 2,000,000
Series 32 Shares at a price of CDN$25.00 per share. Brookfield will receive
additional gross proceeds of CDN$50,000,000 from the exercise of the
Underwriters' Option, increasing the total size of the offering to
CDN$300,000,000. Closing of the Underwriters' Option is expected to occur
concurrent with the closing of the public offering on or about March 13, 2012. 


Holders of the Series 32 Shares will be entitled to receive a cumulative
quarterly fixed dividend yielding 4.50% annually for the initial period ending
September 30, 2018. Thereafter, the dividend rate will be reset every five years
at a rate equal to the 5-year Government of Canada bond yield plus 2.90%. 


The Series 32 Shares will be offered in all provinces of Canada by way of a
supplement to Brookfield's existing short form base shelf prospectus dated June
7, 2011. The Series 32 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. 


Closing of the offering is anticipated to occur on or about March 13, 2012.
Subject to fulfilling the listing requirements of the Toronto Stock Exchange,
the Series 32 Shares will begin trading on the TSX under the symbol "BAM.PF.A"
upon closing of the offering. 


Brookfield intends to use the net proceeds of the issue of Series 32 Shares to
redeem its Class A Preference Shares, Series 10 and for general corporate
purposes. 


About Brookfield Asset Management 

Brookfield Asset Management Inc. is a global alternative asset manager with
approximately $150 billion in assets under management. We have over a 100-year
history of owning and operating assets with a focus on real estate,
infrastructure, power and private equity. We have a range of public and private
investment products and services, which leverage our expertise and experience
and provide us with a distinct competitive advantage in the markets where we
operate. 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.


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",
"anticipate" and "intends" and 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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