Brookfield Properties Corporation - Reminder Notice.

Business Editors

NEW YORK--(BUSINESS WIRE)--Feb. 5, 2001

Brookfield Properties Corporation (NYSE:BPO)(TSE:BPO.)

                  Brookfield Properties Corporation
         Conference Call and Webcast of 2000 Year End Results
                 February 6, 2001 at 10:30 a.m. (EST)

                            REMINDER NOTICE

You are invited to participate in the Brookfield Properties Corporation (NYSE:BPO)(TSE:BPO.) live Webcast or conference call announcing our 2000 year end results on Tuesday, February 6, 2001 at 10:30 a.m. EST.

The earnings news release and Supplemental Information Package will be available the morning of February 6 on Brookfield's web site at www.brookfieldproperties.com under the News Center - Media Releases page.

Scheduled speakers are Gordon Arnell, Chairman, Bruce Flatt, President and Chief Executive Officer and Steven Douglas, Senior Vice President and Chief Financial Officer.

Webcast:

To access the Webcast, go to Brookfield's web site at www.brookfieldproperties.com. Click on the link for the Webcast on the Home Page or go to Investor Info - Calendar of Events page to access. The archived Webcast will be available approximately 24 hours after the conference call.

Teleconference:

You may also participate in the Brookfield Conference Call by calling 1-888-209-3790. To ensure your participation, please call five minutes prior to the scheduled start of the call. The archived teleconference may be accessed by dialling 1-800-558-5253 with reservation number 17598112.

Management's presentation will be followed by a question and answer period. To register your request to ask a question, press "1" followed by "4" on a touch-tone phone. The conference call coordinator is immediately notified of all requests in the order in which they are made. The coordinator will then introduce each questioner. If you would like to cancel your request, press "1" followed by "3". If you accidentally hang up during the conference call, you can reconnect by dialing 1-888-209-3790. If you require assistance at any point during the call, press "0" or call the ConferTech help line at 1-800-473-0602.