Brookfield Investments Corporation Announces Third Quarter Financial Results

Brookfield Investments Corporation ("Brookfield Investments" or the "company") (TSX VENTURE:BRN.PR.A) recorded net income of $37 million or $0.81 per common share for the three months ended September 30, 2011 compared to $24 million or $0.52 per common share for the same period in the prior year. Net income in the current quarter increased primarily as a result a $10 million increase in the fair value of the company's indirect investment in Canary Wharf, which is held through its equity accounted investment in Brookfield Europe L.P., as well as a higher amount of unrealized foreign currency revaluation gains. These amounts were partially offset by a decrease in Canary Wharf's dividend by $3 million to $6 million, when compared to the prior year.

The company reported a comprehensive loss of $319 million for the quarter ended September 30, 2011, which consists of net income and other comprehensive loss, compared to comprehensive income of $128 million for the same period last year. The current period loss was primarily the result of a $348 million unrealized loss on the company's investment securities, which are recorded at fair value.

The company's Board of Directors declared the regular quarterly dividend of C$0.29375 per share on its Senior Preferred Shares, Series A payable on December 31, 2011 to shareholders of record on December 20, 2011.

Brookfield Investments Corporation holds investments in the property and forest products sectors, as well as a portfolio of preferred shares issued by companies within the Brookfield Asset Management Inc. group. The common shares of Brookfield Investments Corporation are wholly owned by Brookfield Asset Management Inc., a global asset manager focused on property, power and infrastructure assets.

Consolidated Statements of Operations

                             Three months ended           Nine months ended 
(unaudited)                                                                 
US$ millions, except September 30  September 30  September 30  September 30 
 per share amounts           2011          2010          2011          2010 
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Investment income                                                           
  Equity accounted                                                          
   income from                                                              
   Brookfield Europe                                                        
   L.P.               $        19   $        13   $        69   $        28 
  Equity accounted                                                          
   income from                                                              
   Norbord Inc.                 -             -             -             3 
  Dividend and                                                              
   interest income             10             9            30            25 
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                               29            22            99            56 
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Expenses                                                                    
  Interest                      8             8            23            22 
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                               21            14            76            34 
Foreign exchange                                                            
 income (loss)                 21            10            19           (23)
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Net income before                                                           
 income taxes                  42            24            95            11 
  Income tax expense           (5)            -            (9)           (4)
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Net income            $        37   $        24   $        86   $         7 
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Net income per common                                                       
 share                $      0.81   $      0.52   $      1.87   $      0.15 
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Consolidated Statements of Comprehensive (Loss) Income

                                                                            
                             Three months ended           Nine months ended 
(unaudited)          September 30  September 30  September 30  September 30 
US$ millions                 2011          2010          2011          2010 
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Net income            $        37   $        24   $        86   $         7 
Other comprehensive                                                         
 (loss) income                                                              
  Foreign currency                                                          
   translation                 (7)           16             4           (10)
  Available-for-sale                                                        
   securities                (348)           92          (239)          220 
  Equity accounted                                                          
   other                                                                    
   comprehensive                                                            
   (loss) income               (2)           (1)            4            (2)
  Deferred income tax           1            (3)           (1)            - 
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                             (356)          104          (232)          208 
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Comprehensive (loss)                                                        
 income               $      (319)  $       128   $      (146)  $       215 
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Consolidated Balance Sheets

(unaudited)                                                                 
                                 September 30,   December 31,     January 1,
US$ millions                              2011           2010           2010
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Assets                                                                      
Current assets                                                              
  Deposits receivable            $           9  $           -  $           3
  Securities                               218            227            190
Non-current assets                                                          
  Investments - Securities                                                  
    Brookfield Office                                                       
     Properties Inc.                       763            973            672
    Brookfield Residential                                                  
     Properties Inc.                        37              -              -
  Investments - Associates                                                  
    Brookfield Europe L.P.                 413            366            332
    Norbord Inc.                            72             79             79
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                                 $       1,512  $       1,645  $       1,276
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Liabilities                                                                 
Current liabilities                                                         
  Deposits payable               $           -  $          27  $           -
  Retractable preferred shares             701            708            700
Deferred taxes                              52             40             36
Equity                                     759            870            540
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                                 $       1,512  $       1,645  $       1,276
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Contacts: Brookfield Investments Corporation Derek E. Gorgi Vice President and Chief Financial Officer 416-363-9491