Brascan SoundVest Funds Announce Distributions and Provides Market Commentary

TORONTO, ONTARIO, Oct 23 (MARKET WIRE) --
Brascan SoundVest Funds today announced monthly distributions for the
following funds:

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Ticker Distribution Record Payable
Fund (TSX) (per unit) Date Date
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Brascan SoundVest October 31, November 14,
Diversified Income Fund BSI.UN $0.079 2008 2008
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Brascan SoundVest October 31, November 14,
Total Return Fund BST.UN $0.0625 2008 2008
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Brascan SoundVest
Rising Distribution
Split Trust BSD.UN $nil See below See below
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Brascan SoundVest October 31, November 14,
Focused Business Trust BSF.UN $0.065 2008 2008
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Market Commentary

Mr. Kevin Charlebois, President and CEO of Brookfield Soundvest, stated
that "the events of the past month have been unprecedented and have had a
major impact on the Brascan Soundvest Funds. The credit crisis sweeping
across the globe has created deep uncertainty among stock market
investors and has culminated in sharp declines in most share prices.
Worries about an upcoming recession have also contributed to a sharp
decline in commodity prices, including oil prices, and this has impacted
the Funds as we own many investments with exposure to these commodities.
All these events have clearly negatively impacted Canadian share prices.
For example, the TSX has declined 30% from September 1 to October 17,
2008 and income trusts also declined by 32% in this same period. The
market values of the underlying portfolios owned by the Funds have
suffered corresponding declines in value."

Mr. Charlebois added that "notwithstanding these events, we believe that
Canada is well positioned to ride out this storm. Governments around the
globe have re-capitalized their financial institutions and injected
much-needed liquidity into the system. The underlying fundamentals for
commodity prices remain positive and we anticipate that prices will
recover once economic growth resumes. In the meantime, many of the
investments in the Fund continue to produce substantial investment income
thereby contributing to the net asset value of each Fund's underlying
units."

Distributions

In accordance with its Declaration of Trust, and because the net asset
value is currently below the required 1.4 times coverage ratio, the
monthly distribution on the Capital Units of the Brascan SoundVest Rising
Distribution Split Trust will not be paid this month. The Declaration of
Trust prohibits the Trust from paying a cash distribution on its Capital
Units if, after giving effect to the proposed distribution, the net asset
value per unit of its Capital Units would be less than approximately
$4.00 and as of October 17, 2008 this amount was $nil. The Trust will
continue to monitor its net asset value per Capital Unit to determine if
it will be able to make monthly distributions in the future.

These announcements do not affect the quarterly distributions payable on
the Preferred Securities of Brascan SoundVest Rising Distribution Split
Trust.

Unitholders of Brascan SoundVest Diversified Income Fund may elect to
automatically reinvest monthly distributions in additional units of the
Fund through the Fund's Distribution Reinvestment Plan (the "Plan").
Participants in the Plan may also purchase additional units of the Fund
for cash. The optional cash purchases require a minimum of $100 per
payment. To enroll in the plan, please contact your investment advisor.

Temporary Suspension of Annual Redemption Rights (BSD.UN/BSD.PR.A)

The Brascan SoundVest Rising Distribution Split Trust also announced that
it is temporarily suspending the annual redemption rights that would have
arisen in November in respect of both its Capital Units and Preferred
Securities. The Declaration of Trust provides for the suspension of
redemptions when the same 1.4 times coverage ratio mentioned above cannot
be maintained. The Trust will monitor its net asset value to determine
when it will be able to resume redemptions. Further details of the
redemption procedure to be followed will be announced if and when the
suspension is lifted.

Brascan SoundVest Funds are dedicated to providing high-quality
investment funds to retail investors. These funds bring together
innovative structures with top tier investment advisors to give investors
access to tax-advantaged distributions while focusing on capital
preservation and long-term total return. The investment advisor and
portfolio manager for the Funds is Brookfield SoundVest Capital
Management Ltd., which is 50% owned by Brookfield Asset Management Inc.
Brookfield SoundVest is an established investment advisor, providing
investment management services to pension funds, trusts, foundations and
high net worth individuals.

This news release contains forward looking information. Actual future
results may differ materially. The risks, uncertainties and other factors
that could influence actual results are described in the Brascan
SoundVest Funds prospectuses and other documents filed with regulatory
authorities.

Contacts:
Brascan SoundVest Diversified Income Fund
Zev Korman, Director, Investor Relations
and Communications - Public Funds
(416) 359-1955
Email: zkorman@brookfield.com
Website: www.brookfieldfunds.com

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