Mr. Brian Kingston reports

BROOKFIELD ASSET MANAGEMENT WINDS UP ORIGINAL GGP CONSORTIUM WITH APPROXIMATELY $10 BILLION OF AGGREGATE GAINS

Partnerships Brookfield Asset Management Inc. manages have made a distribution in kind to, or ended voting arrangements with, institutional investors with respect to an aggregate of approximately 41 million shares of common stock and 14 million warrants to acquire shares of common stock of General Growth Properties Inc. The shares and warrants comprised part of the original consortium that was formed by Brookfield in 2010 to recapitalize GGP, which has generated approximately $10-billion of aggregate gains for the consortium investors to date.

The above will not change the economic interests in GGP held by Brookfield Property Partners, which will continue to own approximately 255 million shares of common stock and warrants exercisable into 73 million shares of common stock, representing approximately 34 per cent of the fully diluted outstanding shares of common stock.

"Our investment in GGP has been one of our most successful real estate transactions to date," said Brian Kingston, chief executive officer of Brookfield Property Group. "In the six years since GGP emerged from bankruptcy, the company has stabilized its capital structure and operating performance, and re-established itself as the pre-eminent mall landlord in the United States. We are pleased to have returned all of our partners' initial capital along with a substantial profit, and we maintain our long-term commitment as GGP's largest shareholder. We look forward to its continued growth in the coming years."

Brookfield Asset Management has approximately $250-billion in assets under management.

We seek Safe Harbor.