BRN.PR.A Brookfield Investments Corporation

Brookfield Investments Corporation (TSX VENTURE: BRN.PR.A) reported net income of $2 million or $0.04 per common share for the three months ended June 30, 2011, compared to $25 million or $0.54 per share for the same period in the prior year. The current quarter includes $2 million of unrealized foreign exchange losses compared to $13 million of unrealized foreign exchange gains for the same period in 2010. Net income in the prior year also included a $10 million mark-to-market gain on the company's European commercial office properties which are held through its investment in Brookfield Europe L.P.

Dividend and interest income increased by $2 million to $10 million for the three months ended June 30, 2011. Dividend payments of $8 million on the company's retractable preferred shares, which are classified as interest expense, were consistent with the prior period. The company's investment in Brookfield Europe L.P. contributed $1 million of net income, whereas in the prior year it contributed $12 million, which included the $10 million unrealized gain noted above. Panelboard investments, held through Norbord Inc., contributed $nil for the second quarter of 2011, compared to a net income of $4 million for the same period in 2010.

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 September 30, 2011 to shareholders of record on September 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.

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Consolidated Statements of Operations

                                        Three months         Six months
(unaudited)                            ended June 30       ended June 30
US$ millions, except per share
 amounts                                 2011      2010      2011      2010
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Investment income
  Equity accounted income from
   Brookfield Europe L.P.            $      1  $     12  $     50  $     15
  Equity accounted income from
   Norbord Inc.                             -         4         -         3
  Dividend and interest income             10         8        20        16
  Foreign exchange (loss) income           (2)       13        (2)      (33)
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                                            9        37        68         1
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Expenses
  Interest                                  8         7        15        14
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Net income (loss) before income
 taxes                                      1        30        53       (13)
  Income tax recovery (expense)             1        (5)       (4)       (4)
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Net income (loss)                    $      2  $     25  $     49  $    (17)
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Net income (loss) per common share   $   0.04  $   0.54  $   1.06  $  (0.37)
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Consolidated Statements of
 Comprehensive Income (Loss)

                                        Three months         Six months
(unaudited)                            ended June 30       ended June 30
US$ millions                             2011      2010      2011      2010
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Net income (loss)                    $      2  $     25  $     49  $    (17)
Other comprehensive income (loss)
  Foreign currency translation              1        (5)       11       (26)
  Available-for-sale securities            90       (69)      109       128
  Equity accounted other
   comprehensive income (loss)              -         -         6        (1)
  Deferred income tax                       2         2        (2)        3
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                                           93       (72)      124       104
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Comprehensive income (loss)          $     95  $    (47) $    173  $     87
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Consolidated Balance Sheets

(unaudited)                              June 30,   December 31,  January 1,
US$ millions                                 2011           2010        2010
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Assets
Current assets
  Deposits receivable                   $       - $            - $         3
  Securities                                  241            227         190
Non-current assets
  Investments - Securities
    Brookfield Office Properties Inc.       1,069            973         672
    Brookfield Residential Properties
     Inc.                                      56              -           -
Investments - Associates
    Brookfield Europe L.P.                    408            366         332
    Norbord Inc.                               74             79          79
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                                        $   1,848 $        1,645 $     1,276
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Liabilities
Current liabilities
  Deposits payable                      $       3 $           27 $         -
  Retractable preferred shares                713            708         700
Deferred taxes                                 54             40          36
Equity                                      1,078            870         540
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                                          $ 1,848 $        1,645 $     1,276
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Contacts: Brookfield Investments Corporation Derek E. Gorgi Vice President and Chief Financial Officer 416-363-9491