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Brascan Adjustable Rate Trust I Announces Results of Extraordinary Redemption and Monthly Distribution Toronto, July 22, 2008: Brascan Adjustable Rate Trust I (the “Fund”) (TSX:BAO.UN) today announced that it has received irrevocable requests to redeem a total of 423,874 units as of July 31, 2008 pursuant to the Fund’s extraordinary redemption right approved at the Fund’s meeting of unitholders held on June 27, 2008. The results of the redemption will trigger the automatic termination conditions approved by unitholders at the June 27, 2008 meeting. Consequently, the Fund anticipates that it will proceed with its termination following July 31, 2008. Further details of the timing of the Fund’s termination will be provided in a subsequent news release. The Fund also announced a monthly distribution of $0.03 per trust unit will be payable on August 15, 2008 to unitholders of record on July 31, 2008 (including those unitholders exercising their extraordinary redemption right). The Fund’s net asset value per unit at July 17, 2008, its most recent calculation date, was $0.32. The Fund is listed on the TSX under the symbol BAO.UN.
– 30 – For further information, please visit our website at www.brookfieldfunds.com or contact: Zev Korman 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 Adjustable Rate Trust I prospectus and other documents filed with regulatory authorities.
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