Weil, Gotshal & Manges Advises Brascan in $900 Million Purchase of Upstate New York Energy Assets From Reliant Energy

Weil, Gotshal & Manges Advises Brascan in $900 Million Purchase
of Upstate New York Energy Assets From Reliant Energy
Transaction Valued at $900 Million 


NEW YORK, May 24  /PRNewswire/ -- Weil, Gotshal & Manges LLP, one of the
world's leading law firms, advised Brascan Corporation  in its agreement to
acquire 71 hydroelectric power generating plants, totaling 674 megawatts of
capacity, and one 95 megawatt co-generation facility, in upstate New York, from
Reliant Energy Inc. for US$900 million.

The transaction is subject to federal and New York State regulatory approval
and is expected to close in the third quarter of 2004.

Brascan Corporation is an asset management company.  With a focus on real
estate and power generation, the company has direct investments of $17 billion
and a further $7 billion of assets under management.

Weil, Gotshal & Manges LLP is an international law firm of more than 1,100
attorneys, including approximately 300 partners.  Weil Gotshal is headquartered
in New York, with offices in Austin, Boston, Brussels, Budapest, Dallas,
Frankfurt, Houston, London, Miami, Munich, Paris, Prague, Silicon Valley,
Singapore, Warsaw and Washington, D.C.

Weil, Gotshal & Manges LLP's Team

Partners:  Simeon Gold and J. Philip Rosen (Corporate - New York); Steven M.
Peck (Corporate - Boston); Annemargaret Connolly (Litigation/Regulatory -
Washington D.C.); Helyn S. Goldstein (Tax - New York); Debra J. Pearlstein
(Litigation/Regulatory - New York)

Counsel:  Holly Washington Loiseau (Litigation/Regulatory - Washington D.C.);
Lawrence J. Baer (Litigation/Regulatory - New York)

Associates:  Paul D. Fasciano and Bryan M. Mignone (Corporate  - New York);
Chrystal L. Dyer-Laroche, Brett J. Grossman, Ernie Padron and Lisa B. Gordon
(Property - New York); Kenneth Gavsie (Litigation/Regulatory - New York);
Joseph Miller (Corporate - Washington D.C.); Lisa R. Fine
((Litigation/Regulatory - Washington D.C.); John O'Loughlin
(Litigation/Regulatory - Washington D.C.); Dale G. Nissenbaum
(Litigation/Regulatory - New York); Jacob S. Lee, Nancy Y. Tong and Christina
Y. Lee (Tax - New York) 

DATASOURCE: Weil, Gotshal & Manges LLP



CONTACT:  Les Zuke of Weil, Gotshal & Manges LLP, [phone]; Jill

Goodkind of Rubenstein Associates, [phone], for Weil, Gotshal & Manges

LLP



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