LIVERPOOL, N.Y. (December 15, 2004) – Brascan Power New York recently contributed $500,000 to the Natural History Museum of the Adirondacks to be the exclusive sponsor of the “ Land of Deep, Dark Lakes” exhibit. This exhibit will showcase the lake geology and inhabitants that have adapted to the cold-water environment in the Adirondacks.
The centerpiece of the exhibit, a 10-foot high by 15-foot long by 5-foot wide acrylic tank environment centered in a rock base, will be complete with the largest Piscean inhabitants: Lake Trout and Atlantic Salmon. Other residents will include Sculpin, Whitefish, Cisco and Suckers. The tabletop displays flanking the sides of the tank will contain interactive exhibits featuring lake geology and aquatic life.
According to Donald K. Clifford, Jr., president of the Museum's Board of Trustees, “This is one of the most generous corporate gifts in recent Adirondack history. This marks a partnership with a company whose corporate commitment to the Museum's mission resulted in this special contribution, and moves us a step closer to our funding goal of $22 million."
“Brascan Power New York owns and operates 71 hydropower plants throughout New York State, many in the scenic Adirondack Mountains. In fact, t his exhibit in particular fits well since Brascan Power has a number of plants located just downstream from the museum site ,” said David Youlen, vice president New York operations, Brascan Power New York, Liverpool, N.Y. “Brascan is pleased to be associated with this exhibit and with helping the Museum promote the future of the Adirondacks from educational, environmental and economic development standpoints. This also helps reinforce Brascan Power's deep commitment to producing ‘green,' renewable energy and our corporate pledge to be active members in communities where our plants are situated. The museum is a good complement to our business in that natural history involves the mountains, lakes and rivers, which are all necessary ingredients for hydroelectric production,” added Youlen
Race to Ribbon Cutting
Groundbreaking for the Natural History Museum of the Adirondacks occurred in July 2004. The Museum, to be located in Tupper Lake, Franklin County, N.Y., will be a dynamic center for the study and presentation of nature in the largest park in the lower 48 states. This state-of-the-art, 35,000-square-foot museum will house a surround-sound movie theater, a 20-foot high waterfall with a live otter exhibit, giant aquariums and live exhibits infused with media shows that explain the wonders of the natural world. It will also include 31 acres of interpreted outdoors exhibits, hiking trails, a waterfront café and museum gift shop.
“We want to thank Richard Legault, president and chief operating officer of Brascan Power, Brascan's entire Board of Directors and David Youlen. We are very pleased that they have taken a leadership position and have chosen to invest in the Museum. This gift comes at a perfect time, as we approach the finish line with only $5.5 million remaining to bring the Museum to its Capital Campaign goal, and open our doors in summer 2006," said Betsy Lowe, Museum project director and vice president.
Brascan Power New York, a member of the Brascan Power group, owns and operates 71 hydroelectric power plants totaling 674 megawatts of capacity, and one 105-megawatt co-generation facility.Brascan Power comprises the power generating, distribution and marketing operations of Brascan Corporation. Brascan Power has developed and successfully operated hydroelectric power facilities, primarily in North America, for over 100 years. Brascan Power's portfolio includes 117 hydroelectric power-generating stations located on 35 river systems, three co-generation facilities and transmission and distribution assets, principally in the northeast. Brascan Corporation is an asset management company with a focus on real estate and power generation. The company is listed on the New York and Toronto stock exchanges under the symbols BNN and BNN.LV.A respectively. For more information, please visit our web site at www.brascancorp.com
For additional information on the Natural History Museum of the Adirondacks, visit www.adknature.org.
***
For additional information contact: Lela R. Katzman, Full Spectrum Communications,
(518) 785-4416, fsclela@nycap.rr.com
Betsy Lowe,
(518) 359-7800, emlowe@adknature.org
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 “believe”, “expect”, “anticipate”, “intend”, “estimate” and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters identify forward looking statements. Reliance should not be placed on forward-looking statements 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. Factors that could cause actual results to differ materially from those set forward in the forward looking statements include general economic conditions, interest rates, availability of equity and debt financing and other risks detailed from time to time in the company's 40-F filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.