TORONTO, ONTARIO–( EMWNews – March 28, 2008) – BAM Investments Corp. (TSX:BNB) today announced its financial results for the year ended December 31, 2007.

The company recorded net income of $7.5 million for the year ended December 31, 2007, compared with $15.9 million in 2006. After providing for preferred share dividend obligations, the net income per common share was $0.09 for 2007, compared with $0.13 in 2006. The 2006 results include a future tax benefit of $10.5 million arising from the purchase of Brookfield’s Class A shares during the year.

The company’s principal investment is a direct and indirect interest in 55.5 million Class A Limited Voting shares (“Class A shares”) of Brookfield Asset Management Inc. (“Brookfield”).

Consolidated Statements of Operations

                                       Three months ended       Years ended
                                              December 31       December 31
                                      --------------------------------------
$thousands, except per share amounts         2007    2006     2007     2006
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Investment income                         $ 6,643 $ 6,720 $ 32,404 $ 21,114
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Expenses
 Operating                                    273     132    1,033      513
 Interest                                     898   1,088    4,458    2,168
 Amortization of deferred financing
  costs                                       451     153    1,662    1,286
 Retractable preferred share
  dividends                                 4,111   2,944   19,465   11,773
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                                            5,733   4,317   26,618   15,740
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Net income before tax                         910   2,403    5,786    5,374
 Future tax recovery (expense)                131     (51)   1,759   10,483
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Net income                                  1,041   2,352    7,545   15,857
Preferred share dividends                       -  (1,239)    (213)  (4,953)
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Net income for common shareholders        $ 1,041 $ 1,113  $ 7,332 $ 10,904
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Net income per common share               $  0.01 $  0.03  $  0.09 $   0.13
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Net Book Value

The net book value of the company’s common shares as at December 31, 2007 based on the market price of Brookfield’s Class A shares of $35.45 was $17.50 per share. BAM Investments holds 6.98 Brookfield Class A shares for every 10 common shares of BAM Investments. The information in the following table has been extracted from the company’s consolidated balance sheet as at December 31, 2007.

Statement of Financial Position as at December 31, 2007

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$thousands except per share amounts                          Net Book Value
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Assets
 Investment in Brookfield Asset Management Inc.(1)              $ 1,966,278
 Cash and equivalents                                                51,179
 Other assets                                                         9,206
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                                                                  2,026,663
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Liabilities
 Accounts payable and provisions                                      2,915
 Retractable preferred shares(2)                                    397,586
 Future tax liability(3)                                            236,454
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                                                                    636,955
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Shareholders' Equity
 Common equity                                                    1,389,708
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                                                                $ 2,026,663
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Net Book Value Per Common Share(4)                              $     17.50
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(1) The investment in Brookfield Asset Management Inc. consists of 55.5
    million Class A shares at a bid price of $35.45 per Brookfield
    share as at December 31, 2007. This represents the total shares owned
    of 60.8 million Class A shares less 5.3 million Class A shares
    that have been set aside for settlement of exchangeable debentures
    issued by the company.
(2) Represents $405 million retractable preferred shares issued by BAM
    Split Corp., which is a subsidiary of the company, net of
    unamortized issuance costs.
(3) The future tax liability represents the potential future income tax
    liability of the company based on the difference between the carrying
    values of the company's assets and liabilities and their respective
    tax values, as well as giving effect to estimated capital and non-
    capital losses as at the date of this statement.
(4) As at December 31, 2007, there were 79,418,910 common shares of the 
    company issued and outstanding.

Note: This news release contains “forward-looking statements”. The words “potential” and “estimated” and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters identify forward-looking statements. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include general economic conditions, interest rates, availability of equity and debt financing and other risks detailed from time to time in the company’s continuous disclosure documents. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.