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
8,000,000 Class A Preference Shares, Series 34, the underwriters have exercised
their option (the "Underwriters' Option") to purchase an additional 2,000,000
Preferred Shares, Series 34, 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$250,000,000. Closing of the Underwriters' Option is expected to occur
concurrent with the closing of the public offering on or about September 12,
2012. Holders of the Preferred Shares, Series 34, will be entitled to receive a
cumulative quarterly fixed dividend yielding 4.20% annually for the initial
period ending March 31, 2019. Thereafter, the dividend rate will be reset every
five years at a rate equal to the 5-year Government of Canada bond yield plus
2.63%. 


The Preferred Shares, Series 34, will be offered in all provinces of Canada by
way of a supplement to Brookfield Asset Management's existing short form base
shelf prospectus dated June 7, 2011, as amended on June 13, 2012. The Preferred
Shares, Series 34, 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. 


Subject to fulfilling the listing requirements of the Toronto Stock Exchange,
the Preferred Shares, Series 34, will begin trading on the TSX under the symbol
"BAM.PF.B" upon closing of the offering. Brookfield intends to use the net
proceeds of the issue of Preferred Shares, Series 34 to redeem its Class A
Preference Shares, Series 11, and for general corporate purposes. 


Brookfield Asset Management Inc. is a global alternative asset manager with over
$150 billion in assets under management. The company has over a 100-year history
of owning and operating assets with a focus on property, renewable power,
infrastructure and private equity. It has a range of public and private
investment products and services, which leverage its expertise and experience
and provide Brookfield with a 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 BAM.A, respectively, and on NYSE Euronext under the
symbol BAMA. For more information, please visit our 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" 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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