Brascan Financial Acquires 54 Million Shares Of MediSolution In Convertible Debt Transaction.

Business Editors

TORONTO--(BUSINESS WIRE)--Oct. 10, 2003

Brascan Financial Corporation, a wholly owned subsidiary of Brascan Corporation (NYSE: BNN, TSX: BNN.a) announced today the acquisition of 54,309,343 common shares of MediSolution Ltd. (TSX: MSH), of which 50,877,192 common shares were issued to Brascan Financial upon the exercise by the company of a right to convert debt in the principal amount of $14,5000,000 at a conversion price of $0.285 per share and the balance of 3,432,151 common shares were issued to Brascan Financial at an issue price of $0.47 per share to compensate the company for converting at this time. Following the acquisition, Brascan Financial owns 95,061,097 common shares, representing 61% of the issued and outstanding common shares of MediSolution. Brascan Financial may acquire additional shares from time to time in its discretion.

Brascan Profile

Brascan is a real estate, power generation and asset management company whose objective is to earn a superior return on equity by operating businesses which produce consistent and sustainable cash flows. With direct investment of US$15 billion and a further US$5 billion of assets under management Brascan owns 55 high quality office properties and 42 power generating plants.

The company is listed on the New York and Toronto stock exchanges under the symbol BNN and BNN.a respectively.