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Brookfield Power comprises the power generating, transmission, distribution and marketing operations of Brookfield Asset Management. Brookfield Power has developed and successfully operated hydroelectric power facilities, primarily in North America, for almost 100 years. Brookfield Power’s portfolio comprises almost 3,500 megawatts of capacity and includes 135 hydroelectric power generating stations located on 48 river systems, 2 co-generation facilities and transmission and distribution assets, principally in the northeast North America. (See www.brookfieldpower.com for more details). Brookfield Asset Management Inc. is an asset manager. Focused on property, power and infrastructure assets, the company has approximately US$50 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM. (See www.brookfield.com for more details).

Note: This press release may contain "forward-looking statements”, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “transform”, “believe”, “expect”, “will”, “potentially”, “anticipate”, “positioned”, “intend”, “estimate”, and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Although Brookfield Power believes that the anticipated future results, performance or achievements expressed or implied by the 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 because they 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: general economic conditions; interest; availability of equity and debt financing; the ability to effectively integrate acquisitions into existing operations; and other risks and factors described from time to time in the documents filed by the company with the securities regulators in Canada and the United States including in the Non-Offering Prospectus of Brookfield Power Corporation dated March 16, 2005 and in the Annual Reports and Form 40-F of Brookfield Asset Management Inc. The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.