TORONTO, ONTARIO--(MARKET WIRE)--Oct 3, 2008 -- Brookfield Real Estate Services Fund (the "Fund") (Toronto:BRE-UN.TO - News), today announced that the Toronto Stock Exchange has approved its notice of intention to make a normal course issuer bid for up to 499,150 of its units, representing 5% of its 9,983,000 outstanding units as of September 30, 2008. The Fund may purchase units at prevailing market prices during the period from October 7, 2008, to October 6, 2009. Purchases will be made at market prices in accordance with the rules and policies of the Toronto Stock Exchange. Daily purchases will be effected through the facilities of the TSX and will be limited to 1,995 units, other than block purchase exceptions.

The Fund believes that the purchase by the Fund of a portion of its outstanding units may from time to time be an appropriate use of available resources and in the best interests of the Fund and its unitholders. The Fund intends to finance the purchases with available cash on hand.

About the Brookfield Real Estate Services Fund

The Fund is a leading provider of services to residential real estate REALTORS®(1). The Fund generates cash flow from franchise royalties and service fees derived from a national network of real estate brokers and agents in Canada operating under the Royal LePage, La Capitale Real Estate Network and Johnston & Daniel brand names. At June 30, 2008, the Fund Network was comprised of 14,771 REALTORS®. As at December 31, 2007, the Fund Network had an approximate 21% share of the Canadian residential resale real estate market based on transactional dollar volume. The Fund is a TSX listed income trust, which pays monthly distributions and trades under the symbol "BRE.UN" The Fund's website address is www.brookfieldres.com.

(1)REALTOR® is a trademark identifying real estate licensees in Canada who are members of the Canadian Real Estate Association

Certain statements included in this release contain words such as "will", "expects", 'expectations", "may", "anticipates", "believes", "intends", "estimates" and "plans" (and similar expressions) and constitute "forward-looking statements" within the meaning of applicable securities law. These statements are based on the Fund's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the Fund operates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which are difficult to predict and may cause the actual results, performance or achievements of the Fund ,outcomes, or results of the multimedia duplication/ replication industry, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, which will, among other things, impact the demand for the Fund's products and services; multimedia duplication/replication industry conditions and capacity; the ability of the Fund to implement its business strategy, including having the cash resources necessary to do so; a shortage of product due to labour disruptions, the Fund's ability to retain major customers; the Fund's ability to invest successfully in new technologies and other factors which are described in the Fund's filings with Canadian securities commissions. Unless otherwise required by applicable securities laws, the Fund disclaims any intention or obligation to update or revise any forward-looking statements.

     Contacts:
     Brookfield Real Estate Services Fund
     Jane Watson
     Investor Relations
     (647) 221-9505
     Email: jwatson@brookfieldres.com
     Website: http://www.brookfieldres.com