Brookfield Investment Management Inc. Announces Closing of the Reorganizations, Dividend Declaration for the Brookfield Real Assets Income Fund Inc. and Share Repurchase Program

NEW YORK, NEW YORK--(Marketwired - Dec 5, 2016) - Brookfield Investment Management Inc. (the "Adviser") today announced that the reorganization of each of Brookfield Mortgage Opportunity Income Fund Inc. (NYSE:BOI), Brookfield High Income Fund Inc. (NYSE:HHY), and Brookfield Total Return Fund Inc. (NYSE:HTR) into Brookfield Real Assets Income Fund Inc. (the "Fund" or the "RA Fund") (NYSE:RA) (each, a "Reorganization" and together, the "Reorganizations") was successfully completed before the market open of the New York Stock Exchange today, December 5, 2016.

In the Reorganizations, common shareholders of BOI, HHY, and HTR, respectively, received an amount of RA Fund common shares equal to the aggregate net asset value of their holdings of BOI, HHY, and/or HTR common shares, as applicable, as determined at the close of business on December 2, 2016. Fractional RA Fund shares were not issued in the Reorganizations and consequently cash will be distributed for any such fractional amounts.

Relevant details pertaining to the Reorganizations are as follows:

In addition, RA Fund has declared a monthly distribution of $0.1990 per share, payable on December 22, 2016 to shareholders of record on December 15, 2016. The ex-distribution date is December 13, 2016. Based on RA Fund's initial $25 net asset value per share, the Fund's annualized distribution rate is 9.55%.

Shares purchased on or after the ex-distribution date will not receive the distribution discussed above. Please contact your financial adviser with any questions. Distributions may include net investment income, capital gains and/or return of capital. The distribution rate referenced above is calculated as the annualized amount of the most recent monthly distribution declared divided by RA Fund's initial $25 net asset value per share. Any portion of the Fund's distributions that is a return of capital does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income." The tax status of distributions will be determined at the end of the taxable year.

Finally, the Board of Directors of RA Fund has authorized the repurchase of an aggregate of up to 10% of the Fund's outstanding shares in open-market transactions during the period beginning on December 5, 2016, and ending on December 5, 2017. The Fund's Board of Directors has delegated to the Adviser, the discretion to determine the amount and timing of repurchases of shares of the Fund in accordance with the best interests of the Fund, and subject to applicable legal limitations. The Board authorized the share repurchase program as a result of its review of the options available to enhance shareholder value and reduce any potential discount between the market price of the Fund's shares and the net asset value per share.

Forward-Looking Statements

Certain statements made in this news release that are not historical facts are referred to as "forward-looking statements" under the U.S. federal securities laws. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the historical experience of the Adviser and BOI, HHY, HTR, and RA Fund (collectively, the "Funds") managed by the Adviser and its present expectations or projections. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Adviser and the Funds managed by the Adviser undertake no responsibility to update publicly or revise any forward-looking statements.

The Adviser is an SEC-registered investment adviser and represents the Public Securities platform of Brookfield Asset Management. The Adviser provides global listed real assets strategies including real estate equities, infrastructure equities, real asset debt and diversified real assets. With approximately $15 billion of assets under management as of September 30, 2016, the Adviser 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 Adviser 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 September 30, 2016. For more information, go to www.brookfield.com.

The Funds are managed by the Adviser. The Funds use their website as a channel of distribution of material company information. Financial and other material information regarding the Funds are routinely posted on and accessible at www.brookfield.com.