Brookfield Properties Issues Class AAA Shares

Brookfield Properties Corp. issued $200 million of class AAA preference shares, series I, on December 31, 2003. The underwriting syndicate was led by Scotia Capital Inc., and included CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial, HSBC Securities (Canada) Inc., Desjardins Securities Inc., Research Capital Corp., Canaccord Capital Corp., Trilon Securities Corp. and Westwind Partners Inc.

Brookfield Properties was represented by Torys LLP, with a team that included Mike Siltala, Rena Shadowitz and Michelle Campbell (corporate) and Jim Welkoff (tax). The underwriters were represented by Lawrence Chernin, Linda Misetich and Earl Miller of Goodman and Carr LLP.