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Non-Tech : Brookfield Asset Management

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Dec 26 9:30 AM EST

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From: JakeStraw	4/30/2008 8:18:53 AM
	of 75

Brookfield Asset Management Announces 2008 First Quarter Results biz.yahoo.com Cash Flow From Operations Cash flow from operations for the first quarter totalled $443 million ($0.72 per share). This compares to $406 million ($0.67 per share) in the 2007 quarter excluding a security disposition gain of $165 million or $571 million ($0.93 per share) including the gain. Excluding this item, operating cash flows increased by 7% quarter-over-quarter on a per share basis as substantial growth in our power generation and commercial office platforms more than offset a lower contribution from our residential operations and an increased amount of capital deployed in development activities that will not contribute meaningfully to reported cash flows until completed. "During the quarter we launched a number of new initiatives to expand both our operating platforms and our asset management activities," said Bruce Flatt, Managing Partner of Brookfield Asset Management. "We are also focussing on organically growing our operations, integrating recent initiatives and advancing a number of key projects. The underlying fundamentals of our businesses remain strong, with a few small exceptions and, we are confident of our ability to execute our business strategy and to continue to meet our long-term cash flow growth objectives."

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