Ms. Claire Holland reports

BROOKFIELD ANNOUNCES EXERCISE OF UNDERWRITERS' OPTION

As a result of strong investor demand for its previously announced offering, the underwriters of Brookfield Asset Management Inc. have exercised their option to increase the size of the offering to 12 million Class A preferred shares, Series 46. The preferred shares, Series 46, will be issued at a price of $25.00 per share for gross proceeds of $300-million. The preferred shares, Series 46, are being issued on a bought deal basis to a syndicate of underwriters led by TD Securities Inc. and Scotiabank for distribution to the public.

The preferred shares, Series 46, will be offered in all provinces of Canada by way of a supplement to Brookfield's existing short form base shelf prospectus. The preferred shares, Series 46, may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act.

Brookfield intends to use the net proceeds of the issue of preferred shares, Series 46, for general corporate purposes. The offering of preferred shares, Series 46, is expected to close on or about Nov. 18, 2016.

We seek Safe Harbor.