BROOKFIELD INFRAST PARTNERS
			Symbol			BIP

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Brookfield Asset Management and Brookfield Infrastructure Partners' Recapitalization Proposal Approved by Shareholders of Babcock & Brown Infrastructure

2009-11-16 02:01 ET - News Release

Also News Release (U-BAM) BROOKFIELD ASSET MGMT INC

TORONTO, ONTARIO and HAMILTON, BERMUDA -- (MARKET WIRE) -- 11/16/09

Brookfield Asset Management Inc. (TSX: BAM.A)(NYSE: BAM)(EURONEXT: BAMA) and Brookfield Infrastructure Partners L.P. (TSX: BIP.UN)(NYSE: BIP) ("Brookfield Infrastructure"(1)) (collectively, "Brookfield") today announced that both the stapled security holders and EPS holders of Babcock & Brown Infrastructure (ASX: BBI) ("BBI") have approved Brookfield's plan to sponsor a comprehensive restructuring and recapitalization of the company. Upon satisfaction of the remaining conditions precedent, closing of the transaction is expected to occur on November 20, 2009. BBI has a diverse portfolio of transportation and utility assets located in Australia, the U.S., the UK, continental Europe, New Zealand and China.

"We are very pleased with the support that we received from both groups of BBI security holders for our proposal. These approvals are a major milestone in the completion of the recapitalization", commented Sam Pollock, Senior Managing Partner and CEO of Brookfield's Infrastructure Group.

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