Mr. Brian Kingston reports

BROOKFIELD PROPOSES TO ACQUIRE ROUSE PROPERTIES, INC. FOR $17.00 PER SHARE

Brookfield Asset Management Inc., on behalf of a real estate fund managed by Brookfield, has made a proposal to acquire the common shares of Rouse Properties Inc. for $17 (U.S.) in cash per share. As part of the transaction, Brookfield Property Partners LP would retain the Rouse shares that it currently owns.

The proposed price represents a premium of 26 per cent to the closing price of Rouse shares on Jan. 15, 2016, and a 19-per-cent premium to the 30-day volume-weighted average trading price of Rouse shares.

"Our offer provides an attractive opportunity for Rouse shareholders to realize a significant premium to recent public market pricing," said Brian Kingston, chief executive officer of Brookfield Property Group.

Brookfield presented its proposal to the board of directors of Rouse on Jan. 16. Consummation of the transaction would be subject to Brookfield and Rouse executing mutually acceptable definitive agreements. There is no assurance that the board will approve a transaction with Brookfield or that a transaction will be consummated.