Toronto, Ontario, Canada, and Longview, Washington, USA -- (MARKET WIRE) -- Brookfield Asset Management Inc. (TSX: BAM)(NYSE: BAM) and Longview Fibre Company (NYSE: LFB) today announced the completion of Brookfield's acquisition of Longview for approximately USD 2.15 billion, including assumed debt.

Under the terms of the merger agreement, Brookfield acquired all outstanding shares of Longview Common Stock for USD 24.75 per share. Longview Common Stock will cease trading at the close of market today and will no longer be listed on the New York Stock Exchange. With the closing of this transaction, Longview is now a wholly-owned subsidiary of Brookfield.

With this transaction, Brookfield has acquired 588,000 acres of prime, freehold timberlands in Washington and Oregon, establishing Brookfield as one of the top five timberlands owners and operators in North America with a total of 2.6 million acres of prime freehold timberlands under management. The high-value species, excellent growth rates, and significant standing timber inventories make these timberlands among the most valuable in the world. In addition, Brookfield has acquired an integrated manufacturing operation that produces specialty papers and containers.

About Brookfield Asset Management

Brookfield Asset Management Inc. (TSX: BAM)(NYSE: BAM), focused on property, power, and infrastructure assets, has more than USD 50 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM. For more information, visit www.brookfield.com.

About Longview Fibre Company

Longview Fibre Company is a real estate investment trust (REIT) engaged in the ownership and management of 588,000 acres of softwood timberlands predominantly located in western Washington and Oregon. The company manufactures specialty paper and containers through a wholly-owned subsidiary. For more information, visit www.longviewfibre.com.