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. (NYSE:BAM) (TSX:BAM.A) (EURONEXT:BAMA)
announced today that it has agreed to issue C$425 million aggregate principal
amount of debt securities, including C$300 million aggregate principal amount of
medium term notes ("notes") with a March 2024 maturity and a yield of 5.045%,
and a C$125 million aggregate principal amount of a re-opening of 5.95%
debentures ("debentures") with a June 2035 maturity.


The original issuance of the debentures was completed in June 2005. The
additional debentures will have the same coupon of 5.95% as well as the same
terms and conditions as the company's debentures issued in June 2005, but will
be issued at a price of C$96.079 plus accrued interest, with an effective yield
of 6.282% if held to maturity. An aggregate of C$425 million of debentures will
be outstanding after giving effect to this offering.


The debt securities have been assigned a credit rating of Baa2 (stable) by
Moody's, A- (negative) by Standard & Poor's, BBB (stable) by Fitch and A (low)
(negative) by DBRS.


The company intends to use the net proceeds of the issues to repay financial
obligations.


The notes are being offered through a syndicate of agents led by CIBC World
Markets Inc., HSBC Securities (Canada) Inc. and TD Securities Inc.


This news release does not constitute an offer to sell or the solicitation of an
offer to buy these securities in any jurisdiction. The securities being offered
have not been approved or disapproved by any regulatory authority nor has any
such authority passed upon the accuracy or adequacy of the short form base shelf
prospectus or the prospectus supplement.


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.


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 harbour" provisions of the United States Private Securities Litigation
Reform Act of 1995 and in any applicable Canadian securities regulations. The
word "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 with respect
to the offering and the use of proceeds from the offering 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 Annual Report on 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 important factors that may affect future
results is not exhaustive. When relying on our forward-looking statements,
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, that may be as a result of
new information, future events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Brookfield Asset Management Inc.
Andrew Willis
Communications and Media
(416) 369 - 8236
(416) 363 - 2856 (FAX)
andrew.willis@brookfield.com


Brookfield Asset Management Inc.
Amar Dhotar
Investor Relations
(416) 359-8629
(416) 363-2856 (FAX)
amar.dhotar@brookfield.com
www.brookfield.com

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