January 20, 2005

GATINEAU, Que. -- Brascan Power has acquired the leasehold interests in two hydroelectric generating facilities totaling 23 megawatts of capacity from Delta Power Co. LLC for $31.4 million, comprising about $12 million of assumed debt with the balance paid in cash.

In a news release, the company said Hydro-Kennebec is a 15.4 megawatt facility on the Kennebec River in Winslow, Maine. The facility began commercial operations in February 1989 and generates about 86 gigawatts hours of energy a year.

West Delaware is a 7.5 megawatt facility in Grahamsville, N.Y. The plant commenced commercial operations in December 1988, and is interconnected with the New York power grid.

The plant output of about 27 gigawatt hours a year is sold into the New York wholesale electricity market, Brascan Power said. The lease on this facility expires in 2037.

Brascan Power comprises the power generating, distribution and marketing operations of Brascan Corp. (BNN).

Company Web Site: http://www.brascanpower.com

-Wendy Tsau, Dow Jones Newswires; 416-306-2100