TORONTO, ONTARIO--(Marketwire - Oct. 13, 2011) - Brookfield Renewable Power Fund (TSX:BRC.UN) ("Fund") and Brookfield Renewable Power Inc. ("Brookfield Power") today announced that, on October 5, 2011, the Ontario Superior Court of Justice (Commercial List) issued an interim order providing for a special meeting of the holders of the Fund's units (the "Unitholders") and a special meeting of the holders of preferred shares (the "Preferred Shareholders") of the Fund's wholly-owned subsidiary, Brookfield Renewable Power Preferred Equity Inc. (TSX:BRF.PR.A) ("BRP Equity"), at which Unitholders and Preferred Shareholders will be asked to approve a proposed plan of arrangement (the "Arrangement"). The Arrangement will result in the previously announced strategic combination of the renewable power assets of the Fund and Brookfield Power to create Brookfield Renewable Energy Partners L.P. ("BREP"), a publicly-traded Bermuda limited partnership focused on renewable power generation. Brookfield Power is also seeking approval of the holders of its unsecured public corporate bonds (the "Bondholders") with respect to certain aspects of the Arrangement.

The record dates, meeting dates, times and locations of all securityholder meetings relating to the Arrangement are scheduled as follows:

If a quorum is not obtained for either the Bondholders or Preferred Shareholders meeting, adjournment(s) are expected to be held on November 16, 2011.

Meeting materials, including the management information circular of both the Fund and BRP Equity, have been distributed to Unitholders and Preferred Shareholders today and meeting materials, including the management information circular of Brookfield Power have previously been distributed to Bondholders. All meeting materials have also been filed and are available on SEDAR at [ www.sedar.com ].

The transaction is expected to close in the fourth quarter of 2011, subject to obtaining required approvals. Supplemental information relating to the transaction is available at [ www.brpfund.com ] and [ www.brookfieldpower.com ].

This news release shall not constitute an offer to sell or a solicitation of an offer to buy the limited partnership units of BREP or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The securities to be offered by BREP have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. BREP intends to offer and sell its securities in the United States pursuant to the exemption from registration set forth in Section 3(a)(10) of the U.S. Securities Act.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements and information within the meaning of the Canadian securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Forward-looking statements in this news release include statements regarding the proposed combination of assets of Brookfield Power and the Fund as well as the creation of BREP and the approval, successful completion and timing of the transaction. Forward-looking statements can be identified by the use of words such as "will", "expected", "intend", "continue", and targets, or variations of such words and phrases. Although Brookfield Power and the Fund believe that such forward-looking statements and information are based upon reasonable assumptions and expectations, they can give no assurance that such expectations will prove to have been correct. The reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of BREP to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to the risk that the conditions precedent to be met, and the approvals to be obtained, for the Arrangement to occur, are not met or obtained. We caution that the foregoing important factors that may affect future results is not exhaustive. Except as required by law, neither Brookfield Power nor the Fund undertakes any obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

About Brookfield Renewable Power Fund

Brookfield Renewable Power Fund ([ www.brpfund.com ]) is a premier Canadian income fund and one of the largest power income funds in North America with more than 1,700 megawatts of power generating capacity and average annual production exceeding 6,500 gigawatt hours.

The Fund produces electricity exclusively from environmentally friendly and renewable resources, including 42 high quality hydroelectric generating stations and two wind farms in four distinct geographic regions across North America: Québec, Ontario, British Columbia and New England.

Brookfield Renewable Power Inc., which comprises most of the power operations of Brookfield Asset Management Inc., owns approximately 34% of the Fund's outstanding units on a fully exchanged basis.

The Fund's units are listed for trading on the Toronto Stock Exchange under the symbol BRC.UN.

About Brookfield Renewable Power Inc.

Brookfield Renewable Power Inc., wholly-owned by Brookfield Asset Management Inc., has more than 100 years of experience as an owner, operator and developer of hydroelectric power facilities. Its total portfolio includes more than 170 generating facilities with approximately 4,400 megawatts of capacity. It also has a significant hydroelectric and wind project pipeline. Brookfield Renewable Power's operations are primarily located in North America and Brazil. For more information, please visit Brookfield Renewable Power's website at [ www.brookfieldpower.com ].

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