Brookfield Homes Corporation Reports On Tender Offer Results To Date

Brookfield Homes Corporation (NYSE:BHS), in accordance 
with its previously announced tender offer for up to 3,000,000 shares 
of its outstanding common stock, today announced that 11,651,491 
shares have been tendered by stockholders other than Brookfield Asset 
Management Inc. (formerly Brascan Corporation), the major stockholder 
of Brookfield Homes. Brookfield Asset Management has previously 
indicated that it intends to tender up to an equivalent number of 
shares as the aggregate number of shares tendered by other 
stockholders.

   The tender offer expires at 5:00 p.m., New York City time, on 
November 15, 2005, unless extended. If the number of shares properly 
tendered is greater than the number sought, purchases will be made on 
a pro rata basis, except for odd lots. The company reserves the 
right, in its sole discretion, to increase the number of shares 
purchased subject to compliance with applicable law.

   Brookfield Homes' Board of Directors has approved the tender 
offer. However, neither Brookfield Homes nor its Board of Directors 
is making any recommendation whether stockholders should tender or 
refrain from tendering their shares. Stockholders must decide whether 
to tender their shares and, if so, how many shares to tender. 
Stockholders may wish to discuss with their broker or other financial 
or tax advisor whether to tender their shares.

   THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT 
AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY SHARES OF 
BROOKFIELD HOMES' COMMON STOCK. THE SOLICITATION OF OFFERS TO BUY 
BROOKFIELD HOMES' COMMON STOCK IS ONLY BEING MADE PURSUANT TO THE 
OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND RELATED TENDER OFFER 
DOCUMENTS. STOCKHOLDERS SHOULD READ THOSE MATERIALS CAREFULLY PRIOR 
TO MAKING ANY DECISIONS WITH RESPECT TO THE TENDER OFFER BECAUSE THEY 
WILL CONTAIN IMPORTANT INFORMATION, INCLUDING THE VARIOUS TERMS AND 
CONDITIONS OF THE OFFER. COPIES OF THE OFFER TO PURCHASE, THE LETTER 
OF TRANSMITTAL AND OTHER TENDER OFFER DOCUMENTS CAN BE OBTAINED FOR 
FREE BY CALLING THE INFORMATION AGENT, MELLON INVESTOR SERVICES LLC 
AT 1-800-261-8066. STOCKHOLDERS WILL ALSO BE ABLE TO OBTAIN THE OFFER 
TO PURCHASE AND RELATED MATERIALS FOR FREE AT BROOKFIELD HOMES' 
WEBSITE WWW.BROOKFIELDHOMES.COM, OR THE SEC'S WEBSITE AT WWW.SEC.GOV.

   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)