BAM.PR.G Brookfield Asset Management Inc

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE
UNITED STATES.


Brookfield Asset Management Inc. (TSX:BAM)(NYSE:BAM)(EURONEXT:BAMA) today
announced the results of the exercise of the conversion privilege for its Class
A Preference Shares, Series 8 (the "Series 8 Preferred Shares") (TSX:BAM.PR.E)
and its Class A Preference Shares, Series 9 (the "Series 9 Preferred Shares")
(TSX:BAM.PR.G).


Holders of the company's Series 8 Preferred Shares and Series 9 Preferred Shares
had the right to exchange their shares for the other series effective November
1, 2011, if they submitted an election to convert their shares on or prior to
October 18, 2011. Holders of 927,590 Series 8 Preferred Shares have elected to
convert these shares into an equivalent number of Series 9 Preferred Shares, and
holders of 774,036 Series 9 Preferred Shares have elected to convert these
shares into an equivalent number of Series 8 Preferred Shares.


These conversions will be effective on November 1, 2011. Following these
conversions, there will be 1,652,394 Series 8 Preferred Shares and 6,347,606
Series 9 Preferred Shares issued and outstanding.


The Series 8 Preferred Shares pay a monthly floating rate dividend based on the
Prime Rate, adjusted to reflect the trading price of these shares. The most
recent monthly dividend paid on these shares on October 12, 2011 reflected an
annualized dividend rate of 3.00%. The Series 9 Preferred Shares pay a quarterly
dividend which is reset every five years based on a percentage of the five-year
rate offered on Government of Canada bonds at the time. As previously announced,
the annual rate on the Series 9 Preferred Shares has been reset at 3.80%
commencing with the dividend payable on February 1, 2012.


Holders of the company's Series 8 and Series 9 Preferred Shares will again have
the opportunity to convert their shares into the other series effective November
1, 2016 and every five years thereafter.


The Series 8 and Series 9 Preferred Shares 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 Asset Management Inc. is a global alternative asset manager with
approximately $150 billion in assets under management. We have over a 100-year
history of owning and operating assets with a focus on real estate,
infrastructure, power and private equity. We have a range of public and private
investment products and services, which leverage our expertise and experience
and provide us with a distinct competitive advantage in the markets where we
operate. Brookfield is co-listed on the New York and Toronto Stock Exchanges
under the symbol BAM and on NYSE Euronext under the symbol BAMA. For more
information, please visit our web site at www.brookfield.com.


Note: This press release contains forward-looking information within the meaning
of Canadian provincial securities laws and other "forward looking statements"
within the meaning of Section 27A of the U.S. Securities Act of 1933, as
amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as
amended. Conditional verbs such as "will" and other expressions which are
predictions of or indicate future events, trends or prospects and which do not
relate to historical matters identify forward-looking statements.
Forward-looking information in this news release includes statements with
regards to the conversion of the Series 8 and Series 9 Preferred Shares.
Although Brookfield believes that the anticipated future results or achievements
expressed or implied by the forward-looking statements and information is based
upon reasonable assumptions and expectations, the reader should not place undue
reliance on forward-looking statements and information because they 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: general economic conditions; interest rate
changes; availability of equity and debt financing; the performance of the
company's shares or the stock exchanges generally; 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 Management's
Discussion and Analysis under the heading "Business Strategy, Environment and
Risks". 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.

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