Brookfield Office Properties Inc. Announces Intention to Redeem Its Class AAA Preference Shares, Series I

Thu Mar 1, 2012 2:57pm EST

* Reuters is not responsible for the content in this press release.

  NEW YORK, NY, Mar 01 (MARKET WIRE) -- 
Brookfield Office Properties Inc. (NYSE: BPO) (TSX: BPO) today announced
that it intends to redeem all of its outstanding Class AAA Preference
Shares, Series I (the "Series I Shares") on March 30, 2012. The
Redemption Price will be C$25.00 per Series I Share. 

    There are currently 6,138,022 outstanding Series I Shares, which are
listed on the Toronto Stock Exchange under the symbol BPO.PR.I. All of
the Series I Shares are held beneficially through CDS & Co., as nominee
of CDS Clearing and Depositary Services Inc.

    Notice of Redemption has been sent to CDS & Co. Payment of the Redemption
Price will be made to all beneficial holders of the Series I Shares on or
after March 30, 2012 through the facilities of CDS & Co.

    About Brookfield Office Properties
 Brookfield Office Properties owns,
develops and manages premier office properties in the United States,
Canada and Australia. Its portfolio is comprised of interests in 110
properties totaling 78 million square feet in the downtown cores of New
York, Washington, D.C., Houston, Los Angeles, Denver, Toronto, Calgary,
Ottawa, Sydney, Melbourne and Perth, making it the global leader in the
ownership and management of office assets. Landmark properties include
the World Financial Center in Manhattan, Brookfield Place in Toronto,
Bank of America Plaza in Los Angeles, Bankers Hall in Calgary, Darling
Park in Sydney and City Square in Perth. The company's common shares
trade on the NYSE and TSX under the symbol BPO. For more information,

    Forward-Looking Statements
 This press release contains forward-looking
statements and information within the meaning of applicable securities
legislation. Although Brookfield Office Properties believes that the
anticipated future results, performance or achievements expressed or
implied by the forward-looking statements and information are based upon
reasonable assumptions and expectations, the reader should not place
undue reliance on forward-looking statements and information because they
involve assumptions, known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements
of the company to differ materially from anticipated future results,
performance or achievement expressed or implied by such forward-looking
statements and information. Accordingly, the company cannot give any
assurance that its expectations will in fact occur and cautions that
actual results may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ materially
from those set forth in the forward-looking statements and information
include, but are not limited to, general economic conditions; local real
estate conditions, including the development of properties in close
proximity to the company's properties; timely leasing of newly-developed
properties and re-leasing of occupied square footage upon expiration;
dependence on tenants' financial condition; the uncertainties of real
estate development and acquisition activity; the ability to effectively
integrate acquisitions; interest rates; availability of equity and debt
financing; the impact of newly-adopted accounting principles on the
company's accounting policies and on period-to-period comparisons of
financial results; and other risks and factors described from time to
time in the documents filed by the company with the securities regulators
in Canada and the United States, including in the Annual Information Form
under the heading "Business of Brookfield Properties -- Company and Real
Estate Industry Risks," and in the company's most recent interim report
under the heading "Management's Discussion and Analysis." The company
undertakes no obligation to publicly update or revise any forward-looking
statements or information, whether as a result of new information, future
events or otherwise, except as required by law.


Melissa Coley
VP, Investor Relations and Communications
(212) 417-7215 

Copyright 2012, Market Wire, All rights reserved.

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