Brookfield Buy Back

Brookfield Properties Corp. announced on July 24, 2000 separate proposals to acquire all of the outstanding shares of two of its subsidiaries, Gentra Inc. and Carma Corp. for approximately $240 million. The deal will be realized through a combination of cash and common shares of Brookfield.

Torys is acting for Brookfield with a team that includes Edwin Nordholm, Michael Siltala, Phil Panet, Jim Welkoff and Gavin Sinclair. Osler, Hoskin & Harcourt LLP is acting for the Special Committee of Gentra. McCarthy Tétrault is acting for the Special Committee of Carma.