BAM.A Brookfield Asset Management Inc

Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA) announced
today that it has exercised its right to redeem C$350,000,000 principal amount
of its C$500,000,000 8.95% Notes due June 2, 2014 (the "Notes") on October 15,
2012. The Notes will be redeemed on a pro rata basis, such that each Note holder
of record on October 1, 2012 will have 70% of their Notes redeemed.


The redemption price for the Notes will be determined in accordance with the
provisions of the trust indenture dated September 20, 1995 and the eleventh
supplemental indenture dated June 2, 2009 and will include accrued and unpaid
interest on the Notes up to, but not including, the redemption date.


Notice of redemption will be delivered today to CDS Clearing and Depository
Services Inc. ("CDS") and the trustee, Computershare Trust Company of Canada.
Non-registered holders (banks, brokerage firms or other financial institutions)
who maintain their interests in the Notes through CDS should contact their CDS
customer service representative with any questions about the redemption.


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.


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 word "will"
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 redemption
of the Notes 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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