Ms. Suzanne Fleming reports

BROOKFIELD ASSET MANAGEMENT ANNOUNCES AUTOMATIC PURCHASE PLAN FOR PREFERRED SHARES NORMAL COURSE ISSUER BID

In connection with its previously announced normal course issuer bid to purchase up to 10 per cent of the public float of each series of the company's outstanding Class A preference shares, excluding the Series 14 Class A preference shares, that are listed on the Toronto Stock Exchange, Brookfield Asset Management Inc. will enter into an automatic purchase plan with its designated broker. The plan will allow for purchases of preferred shares when the company ordinarily would not be active in the market due to its own internal trading blackout period, insider trading rules or otherwise.

Under its normal course issuer bid for preferred shares, which expires on Aug. 11, 2016, the company is authorized to purchase each respective series of the preferred shares as shown in the attached table.

                                                                   
                                                              Average        Maximum number of 
                              Issued and                        daily        shares subject to
                             outstanding                      Trading                 purchase
Series              Ticker        shares   Public float        volume         Total      Daily

Series 2          BAM.PR.B    10,465,100     10,227,590         7,753     1,022,759      1,938
Series 4          BAM.PR.C     4,000,000      3,988,000         4,523       398,800      1,130
Series 8          BAM.PR.E     1,652,394      1,651,394         1,124       165,139      1,000
Series 9          BAM.PR.G     6,347,606      2,854,506         1,106      285, 450      1,000
Series 13         BAM.PR.K     9,999,000      8,800,200         4,744       880,020      1,186
Series 17         BAM.PR.M     8,000,000      8,000,000         5,514       800,000      1,378
Series 18         BAM.PR.N     8,000,000      7,814,339         5,740       781,433      1,435
Series 24         BAM.PR.R    11,000,000     11,000,000        12,308     1,100,000      3,077
Series 26         BAM.PR.T    10,000,000     10,000,000        10,712     1,000,000      2,678
Series 28         BAM.PR.X     9,400,000      9,400,000        11,311       940,000      2,827
Series 30         BAM.PR.Z    10,000,000     10,000,000        10,578     1,000,000      2,644
Series 32         BAM.PF.A    12,000,000     12,000,000         8,718     1,200,000      2,179
Series 34         BAM.PF.B    10,000,000     10,000,000         8,007     1,000,000      2,001
Series 36         BAM.PF.C     8,000,000      8,000,000         9,759       800,000      2,439
Series 37         BAM.PF.D     8,000,000      8,000,000         9,748       800,000      2,437
Series 38         BAM.PF.E     8,000,000      8,000,000         4,856       800,000      1,214
Series 40         BAM.PF.F    12,000,000     12,000,000         9,356     1,200,000      2,339
Series 42         BAM.PF.G    12,000,000     12,000,000        11,343     1,200,000      2,835
 
(1) Calculated as at July 31, 2015.                                        
(2) Calculated for the six months prior to July 31, 2015.                  
(3) In accordance with TSX rules, any daily repurchases with respect to: (i) the Series 8 and
Series 9 preferred shares would be limited to 1,000 shares of the respective series, and (ii)
each of the other series of preferred shares (excluding the Series 8 and Series 9 preferred
shares) would be limited to 25 per cent of the average daily trading volume on the TSX of the
respective series.                                  

We seek Safe Harbor.