Great Lakes Hydro Income Fund Unitholders Approve Strategic Transaction

GATINEAU, Quebec, August 19, 2009 (GLH.UN) - Great Lakes Hydro Income Fund (the “Fund”) today announced that its minority unitholders have approved the previously announced transaction (the “Transaction”) pursuant to which the Fund will acquire 15 hydroelectric stations and one soon-to-be-constructed wind power project from Brookfield Renewable Power Inc. (“BRPI”), and BRPI will increase the price it pays the Fund for power generated at the Fund’s Lièvre and Mississagi facilities.

At a special meeting of the Fund’s unitholders held today, the Transaction was approved by more than 98% of the votes cast by minority unitholders of the Fund, present in person or by proxy at the meeting.

The Transaction is part of a strategic repositioning of the Fund which is expected to significantly enhance the Fund’s renewable power platform and position it for growth and continued value-creation over the long term.

Closing of the Transaction is subject to the satisfaction of customary closing conditions, including the receipt of certain third party consents. Subject to the satisfaction of such closing conditions, the Fund expects the Transaction to close before the end of this month. Concurrent with the closing of the Transaction, Great Lakes Hydro Income Fund will be renamed Brookfield Renewable Power Fund and its ticker symbol on the Toronto Stock Exchange will change from GLH.UN to BRC.UN.

About Great Lakes Hydro Income Fund
Great Lakes Hydro (www.greatlakeshydro.com) is a premier Canadian income fund and one of the largest power income funds in North America with 1,260 megawatts of power generating capacity and average annual production of 4,539 gigawatt hours.

Great Lakes Hydro Income Fund produces electricity exclusively from environmentally friendly and renewable resources. The Fund indirectly owns or holds interests in 27 high quality hydroelectric generating stations and one wind farm in four distinct geographic regions across North America: Quebec, Ontario, British Columbia and New England.

Brookfield Renewable Power, which comprises all the power operations of Brookfield Asset Management, owns 50.01% of the Fund’s outstanding units on a fully exchanged basis.

Great Lakes Hydro Income Fund units are listed for trading on the Toronto Stock Exchange under the symbol GLH.UN.

Unitholder enquiries should be directed to Zev Korman, Director, Investor Relations and Communications at (416) 359-1955 or unitholderenquiries@greatlakeshydro.com.

Forward-Looking Information
This news release contains forward-looking statements and information within the meaning of Canadian securities laws.  Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact.  Forward looking statements in this press release include statements regarding the closing of the proposed Transaction, its timing and impact on the business, operations, financial condition and tax position of the Fund. Forward-looking statements can be identified by the use of words such as “will”, “continued”, “intends”, “positions”, “expect”, “look forward” or variations of such words and phrases.  Although the Fund believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, it can give no assurance that such expectations will prove to have been correct. The reader should not place undue reliance on forward looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Fund to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. 

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to the risk that the Transaction does not close; other risks associated with the Transaction and achieving the anticipated benefits, risks associated with the Transaction and the Fund’s possible conversion to a corporation; changes in hydrology and wind conditions; equipment failure; failure by counterparties to fulfill contractual obligations and failure by the Fund to replace contracts; the Fund’s dependence on Brookfield Renewable Power Inc. and potential conflicts of interest between Brookfield Renewable Power Inc. and the Fund; failure by the Fund to discover liabilities associated with, and inability of the Fund to successfully integrate, acquisitions and other risks and factors detailed from time to time in the Fund’s public filings including the Short Form Prospectus dated July 16, 2009 under the heading “Risk Factors”; the Annual Information Form dated March 20, 2009 under the heading “Risk Factors”; and the Management Discussion and Analysis of Financial Results for the fiscal year ended December 31, 2008 under the headings “Business Environment” and “Risk Factors”.  We caution that the foregoing list of important factors that may affect future results is not exhaustive. Except as required by law, the Fund undertakes no obligation to publicly update or revise any forward looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.