Press Release 2004

Brascan Corporation Announces Adjusted Record and Payment Dates
for Three-for-Two Stock Split

TORONTO, April 12, 2004 – Brascan Corporation (NYSE: BNN, TSX: BNN.A) today announced changes to the record and payment dates for the previously announced three-for-two stock split of its outstanding common shares, which was approved by its Board of Directors on February 11, 2004. This stock split will be implemented by way of a stock dividend whereby common shareholders will receive one-half a common share for each common share held (i.e. one additional share for every two shares held).

The following changes in the record and payment dates for this stock dividend have been made to reflect certain differences between Canadian and U.S. stock exchange practices and holiday schedules:

–		The record date for the stock dividend has been changed from Saturday, May 1, 2004 to the close of business on Friday, May 21, 2004.
–		The payment date for the stock dividend has been changed from Monday, May 31, 2004 to Tuesday, June 1, 2004.

Fractional share dividends will be paid in cash, based on the closing price of Brascan's common shares on the Toronto Stock Exchange on May 21, 2004.

Brascan is undertaking this stock split in order to ensure that its common shares remain accessible to individual shareholders and to improve the liquidity of these shares. The stock split should have no adverse tax consequences in Canada or the U.S.A. and will not dilute common shareholders' equity.

There are no changes in the record and payment dates for the next regular quarterly dividend on Brascan's common shares of May 1, 2004 and May 31, 2004, respectively.

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Brascan Corporation is an asset management company. With a focus on real estate and power generation, the company has direct investments of $16 billion and a further $7 billion of assets under management. These include 55 premier office properties and 47 power generating plants. Brascan is listed on the New York and Toronto stock exchanges under the symbol BNN and BNN.a, respectively.

For more information, please visit our web site at www.brascancorp.com or contact:

Katherine C. Vyse Senior Vice-President Investor Relations and Communications Tel: 416-369-8246 e-mail: kvyse@brascancorp.com

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