Board of Directors

Board of Directors

The Fund is governed by a Board of five Directors, four of whom are independent of the Company or its Manager, Brookfield Real Estate Services Manager Limited. The names and biographies of each of the Directors are set forth below.

Lorraine Bell - Director and Chair of the Audit Committee 1,2

Since 1996, Ms. Bell has been a self-employed consultant. She is a chartered accountant with over 25 years of experience in the financial sector. Ms. Bell is a member of the Board of Directors, Vice-Chair of the Audit committee and Chair of the Human Resources Committee of the Ontario Financing Authority. Prior to being self-employed, she was the founder and responsible for General Re Financial Products Canada, a derivatives services company, which she ran from 1993 until 1996.

Simon Dean - Director 1,2

Since April, 2005, Mr. Dean has been a self-employed consultant. He sits on the Board of the Royal LePage Shelter Foundation. Previously, he was Chief Executive Officer of the Manager (and its predecessor) since January 1995 and Managing Partner of Brookfield Business Services since 2001. Prior to joining the Manager’s predecessor, he was President and Chief Executive Officer of three retail organizations owned by Rogers Communications Inc. from 1988 to 1993 and Executive Vice President of Rogers Cantel Mobile Communications Inc., a national cellular service provider, from 1993 to 1994.

Allen Karp - Director and Chair of the Governance Committee 1,2

Mr. Karp resides in Toronto, Ontario. Mr. Karp was a partner in the law firm of Goodman and Carr LLP, where he practiced law from 1966 to 1986. Mr. Karp had been with Cineplex Odeon Corporation since 1986, where he retired as Chairman and Chief Executive Officer in 2002; and as Chairman Emeritus in 2005. Mr. Karp also sits on the Board of Directors of Tucows Inc.; is a Trustee and Chairman of IBI Income Fund; and is a director and past Chairman of the Toronto International Film Festival Group.

Gail Kilgour - Director 1,2

Ms. Kilgour, ICD.D, brings to the Board more than 25 years of experience in the financial services industry. She is currently Vice-Chair of the Board of Directors, Chair of the Governance Committee and member of the Audit Committee for the Ontario Realty Corporation. A self employed consultant since 2005 and Corporate Director, Ms. Kilgour was prior to 2004 employed by the Canadian Imperial Bank of Commerce ("CIBC"), in a number of senior management roles including, Senior Vice President, Government Sponsored Student Loans, President and Chief Executive Officer, EDULINX Canada Corporation, a subsidiary of CIBC and Senior Vice-President, CIBC's e-Business Strategy.

George Myhal - Director and Chairman

Mr. Myhal is Senior Managing Partner and Chief Operating Officer of Brookfield Asset Management Inc. Mr. Myhal has held a number of senior positions within Brookfield since joining the company in 1981. He has been instrumental in the development and growth of Brookfield's asset management business and is responsible for corporate development and Brookfield’s public securities group. He received a Chartered Accountant designation and is an industrial engineering graduate of the University of Toronto.

1 Member of the audit committee

2 Member of the governance committee

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