Brookfield and Investment Corporation of Dubai Announce Appointment of Douglas Kirkman in Dubai

Tue Feb 26, 2013 1:04pm EST

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

Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA) and
Investment Corporation of Dubai announced today that they have appointed
Douglas Kirkman, Senior Vice President of the Brookfield Property Group,
as chief executive officer of ICD-Brookfield Management Limited, which
will be the manager of the ICD-Brookfield Dubai Real Estate Fund (under
formation). He will be based in Dubai.

    Prior to assuming his current position, Mr. Kirkman worked for the
Blackstone Group, where he helped set up their Indian real estate
business and led their drive into Turkey, among his other
responsibilities in their European principal investing activities.

    The ICD-Brookfield Dubai Real Estate Fund, once formed, will pursue
opportunities in the Dubai real estate sector with a particular focus on
development opportunities. The manager of the Fund is jointly owned by
Brookfield Asset Management and Investment Corporation of Dubai.

    Investment Corporation of Dubai is the investment arm of the government
of Dubai and holds stakes in more than 30 companies, including Emaar
Properties, developer of the world's largest mall and tallest tower, and
Emirates Airlines.

    Brookfield Asset Management Inc. is a global alternative asset manager
with over $175 billion in assets under management. The company has over a
100-year history of owning and operating assets with a focus on property,
renewable power, infrastructure and private equity. It has a range of
public and private investment products and services, which leverage its
expertise and experience and provide Brookfield with a competitive
advantage in the markets where it operates. Brookfield is co-listed on
the New York and Toronto stock exchanges under the symbol BAM and BAM.A,
respectively, and on NYSE Euronext under the symbol BAMA. For more
information, please visit our website at

    Forward-Looking Statements

    Note: This news release contains forward-looking information within the
meaning of Canadian provincial securities laws and "forward-looking
statements" within the meaning of Section 27A of the U.S. Securities Act
of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of
1934, as amended, "safe harbor" provisions of the United States Private
Securities Litigation Reform Act of 1995 and in any applicable Canadian
securities regulations. The words "considering" and "intends" and
derivations thereof and other expressions that are predictions of or
indicate future events, trends or prospects and which do not relate to
historical matters identify forward-looking statements. Forward-looking
statements in this news release include statements in regards to the
proposed offering and the use of proceeds from the offering described in
this news release. Although Brookfield Asset Management believes that
such 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 as such statements and
information involve 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.

    Factors that could cause actual results to differ materially from those
contemplated or implied by forward-looking statements include: economic
and financial conditions in the countries in which we do business; the
behaviour of financial markets, including fluctuations in interest and
exchange rates; availability of equity and debt financing; and other
risks and factors detailed from time to time in the company's form 40-F
filed with the Securities and Exchange Commission as well as other
documents filed by the company with the securities regulators in Canada
and the United States including the company's most recent Management's
Discussion and Analysis of Financial Results under the heading "Business
Environment and Risks."

    We caution that the foregoing list of factors that may affect future
results is not exhaustive. When relying on our forward-looking statements
to make decisions with respect to Brookfield Asset Management, investors
and others should carefully consider the foregoing factors and other
uncertainties and potential events. Except as required by law, the
company undertakes no obligation to publicly update or revise any
forward-looking statements or information, whether written or oral, as a
result of new information, future events or otherwise.

Investment Corporation of Dubai
Abdulla Al Qubaisi
Operations Director
+97147071444 (FAX)

Brookfield Asset Management Inc.
Andrew Willis
SVP, Communications and Media
(416) 369-8236
(416) 363-2856 (FAX)

Brookfield Asset Management Inc.
Katherine Vyse
SVP, Investor Relations
(416) 369-8246
(416) 363-2856 (FAX)

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