BAM.A Brookfield Asset Management Inc

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES 


All amounts in Canadian dollars.

Brookfield Renewable Energy Partners L.P. ("Brookfield Renewable") (TSX:BEP.UN)
and Brookfield Asset Management ("Brookfield")
(TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA) today announced a bought-deal secondary
offering with a syndicate of underwriters led by Scotiabank, CIBC, RBC Capital
Markets and TD Securities Inc. through which a wholly-owned subsidiary of
Brookfield has agreed to sell 8,065,000 L.P. units of Brookfield Renewable at an
offering price of $31.00 per L.P. unit. The Underwriters have been granted an
over-allotment option to purchase up to an additional 1,209,750 L.P. units from
Brookfield at the offering price, under the same terms, exercisable for a period
of 30 days from closing of the Offering. 


Brookfield currently owns approximately 68% of Brookfield Renewable on a
fully-exchanged basis. Upon the completion of the offering, but before giving
effect to the over-allotment option, it is anticipated that Brookfield will own,
directly and indirectly, 169,685,609 L.P. units, representing approximately 65%
of Brookfield Renewable on a fully-exchanged basis. 


A prospectus supplement to the short form base shelf prospectus of Brookfield
Renewable dated January 23, 2012, relating to the offering will be filed shortly
with Canadian securities regulatory authorities. Closing of the offering is
expected to occur on or about March 13, 2013 and is subject to certain customary
closing conditions. Brookfield Renewable will not receive any proceeds from this
offering.


This news release shall not constitute an offer of securities for sale in the
United States. The L.P. units offered will not be and have not been registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold into the United States absent registration or an exemption from
registration. There shall not be any public offering of the L.P. units in the
United States.


About Brookfield Renewable Energy Partners

Brookfield Renewable Energy Partners (TSX:BEP.UN) operates one of the largest
publicly-traded, pure-play renewable power platforms globally. Its portfolio is
primarily hydroelectric and totals more than 5,600 megawatts of installed
capacity. Diversified across 69 river systems and 11 power markets in the United
States, Canada and Brazil, the portfolio generates enough electricity from
renewable resources to power more than two million homes on average each year.
With a virtually fully-contracted portfolio of high-quality assets and strong
growth prospects, the business is positioned to generate stable, long-term cash
flows supporting regular and growing cash distributions to unitholders. For more
information, please visit www.brookfieldrenewable.com. 


About Brookfield Asset Management

Brookfield Asset Management Inc. is a global alternative asset manager with over
$175 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.


Note: This news release contains forward-looking statements and information
within the meaning of the Canadian securities laws. Forward-looking statements
may include estimates, plans, expectations, opinions, forecasts, projections,
guidance or other statements that are not statements of fact. Forward-looking
statements in this news release include statements regarding the secondary
offering of L.P. units and Brookfield's ownership position following the
offering. Forward-looking statements can be identified by the use of words such
as "will", "expected", "intend", "continue", "positioned" and "targets", or
variations of such words and phrases. Although Brookfield and Brookfield
Renewable believe that such forward-looking statements and information are based
upon reasonable assumptions and expectations, no assurance is given that such
expectations will prove to have been correct. 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 Brookfield
and Brookfield Renewable to differ materially from anticipated future results,
performance or achievement expressed or implied by such forward-looking
statements and information. Except as required by law, neither Brookfield nor
Brookfield Renewable undertake any obligation to publicly update or revise any
forward-looking statements or information, whether written or oral, that may be
as a result of new information, future events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Brookfield Renewable Energy Partners
Zev Korman
Director, Investor Relations
(416) 359-1955
zev.korman@brookfield.com


Investors: Brookfield Asset Management
Katherine Vyse
SVP, Investor Relations
(416) 369-8246
katherine.vyse@brookfield.com


Media: Brookfield Asset Management
Andrew Willis
SVP, Communications & Media
(416) 369-8236
andrew.willis@brookfield.com

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