Brookfield New Horizons Income Fund to be Wound Up

TORONTO, ONTARIO--(Marketwired - May 31, 2017) - Brookfield Investment Management (Canada) Inc. (the "Manager"), the manager of Brookfield New Horizons Income Fund (the "Fund") (CSE:BIF.UN)(CSE:BIF.UN.CN)(CNSX:BIF.UN), has determined, in accordance with the terms of the Fund's declaration of trust, to terminate the Fund on or about July 31, 2017 (the "Termination Date"). As all of the units will be redeemed on the Termination Date there will be no annual redemption for the Fund in 2017.

As set out in the Fund's declaration of trust, the Manager may terminate the Fund in its sole discretion, upon not less than 60 days' notice to unitholders ("Unitholders") of the Fund. The Fund will pay to Unitholders a special distribution in an amount necessary to eliminate the Fund's liability for non-refundable income tax under Part I of the Income Tax Act (Canada), if any. The distribution will be paid in units which will be automatically consolidated immediately after the distribution. Thereafter, after paying, or providing for, all liabilities and obligations of the Fund, all Fund property will be distributed rateably among the Unitholders on a pro rata basis. Following such distribution, the Fund will terminate.

Brookfield Investment Management (Canada) Inc., an affiliate of Brookfield Investment Management Inc. (together, the "Firm"), is the manager and investment manager of the Fund.

Brookfield Investment Management Inc. is an SEC-registered investment adviser and represents the Public Securities platform of Brookfield Asset Management. The Firm provides global listed real assets strategies including real estate equities, infrastructure equities, real asset debt and diversified real assets. With more than $14 billion of assets under management as of March 31, 2017, the Firm manages separate accounts, registered funds and opportunistic strategies for institutional and individual clients, including financial institutions, public and private pension plans, insurance companies, endowments and foundations, sovereign wealth funds and high net worth investors. The Firm is a wholly owned subsidiary of Brookfield Asset Management, a leading global alternative asset manager with approximately $250 billion of assets under management as of March 31, 2017. For more information, go to www.brookfield.com.

The Fund uses its website as a channel of distribution of material company information. Financial and other material information regarding the Fund is routinely posted on and accessible at www.brookfield.com and at SEDAR at www.sedar.com.