Brookfield Homes Announces Final Results of Tender Offer

Brookfield Homes Corporation (NYSE:BHS) today announced 
the final results of its tender offer, which expired on November 15, 
2005. Based on a final count by Mellon Investor Services LLC, the 
depositary for the tender offer, 23,309,145 shares of common stock 
were properly tendered and not properly withdrawn, including shares 
tendered by Brookfield Asset Management Inc. (formerly Brascan 
Corporation), the major stockholder of Brookfield Homes.

   In accordance with the terms of the tender offer, Brookfield 
Homes has accepted 3,000,000 shares for purchase at a price of $55.00 
per share. Because the number of shares tendered exceeds the number 
of shares accepted for purchase, the proration factor for non-odd lot 
holders participating in the tender offer is approximately 12.18%.

   The depositary for the tender offer, Mellon Investor Services 
LLC, will on November 23, 2005, commence payment for the shares 
accepted for purchase and arrange to return shares tendered and not 
purchased.

   Brookfield Homes Corporation

   Brookfield Homes Corporation is a residential homebuilder and 
land developer, building homes and developing land in master-planned 
communities and infill locations. We design, construct and market 
single-family and multi-family homes primarily to move-up and luxury 
homebuyers. We also entitle and develop land for our own communities 
and sell lots to other homebuilders. Our portfolio includes 30,000 
lots owned and controlled in the San Francisco Bay Area; Southland / 
Los Angeles; San Diego / Riverside; Sacramento; and Washington D.C. 
Area markets. For more information, visit the Brookfield Homes 
website at www.brookfieldhomes.com.



   Brookfield Homes Corporation (NYSE:BHS)