6-K

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of June 2004

Commission File Number:  033-97038

BRASCAN CORPORATION
(Translation of registrant's name into English)

BCE Place
Suite 300
181 Bay Street, P.O. Box 762
Toronto, Ontario, Canada  M5J 2T3
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form
  20-F or Form 40-F.

Form 20-F                       Form 40-F          X        

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
  Regulation S-T Rule 101(b)(1): ____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
  Regulation S-T Rule 101(b)(7): ____

Indicate by check mark whether by furnishing the information contained in this Form, the
  registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-
  2(b) under the Securities Exchange Act of 1934.

Yes                        No           X         

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with
  Rule 12g3-2(b): 82- ________

INCORPORATION BY REFERENCE

      The Form 6-K of Brascan Corporation dated May 17, 2004 and the exhibit thereto are hereby incorporated by reference as exhibits to Brascan Corporation’s registration statement on Form F-9 (File No. 333-112049).

EXHIBIT LIST

Exhibit                          Description
99.1                             Press release, dated June 15, 2004, regarding
                                    redemption of Class A, Preference Shares Series 1

SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: June 17, 2004

                                                                        BRASCAN CORPORATION

                                                                        By:              /s/ Brian Lawson              
                                                                                Name: Brian D. Lawson
                                                                                Title:  Executive Vice President & CFO

EX-1

                                          NEWS RELEASE

BRASCAN ANNOUNCES INTENTION TO REDEEM ITS
  CLASS A PREFERENCE SHARES, SERIES 1

TORONTO, June 15, 2004 – Brascan Corporation (NYSE: BNN, TSX: BNN.A) today announced that it intends to redeem its Class A Preference Shares, Series 1 (“Preferred Series 1 Shares”) on July 30, 2004 for Cdn. $25.00 per share plus accrued dividends of Cdn. $0.05039 per share.

There are currently 18,891 Preferred Series 1 Shares outstanding, which are listed on the Toronto Stock Exchange under the symbol BNN.PR.A.  These shares are being redeemed to simplify the company’s capital structure.

Payment of the Redemption Price of Cdn. $25.05039 per share will be made by Brascan on or after July 30, 2004, upon the presentation of the certificates for the Preferred Series 1 Shares to the company’s transfer agent, CIBC Mellon Trust Company.  After July 30, 2004, the holders of these shares will no longer receive dividends nor be able to exercise any other rights under these shares, except to receive the Redemption Price for their shares.

Notice of Redemption has been sent to all of the company’s registered Preferred Series 1 Shareholders.

****

Brascan Corporationis an asset management company. With a focus on real estate and power generation, the company has direct investments of $17 billion and a further $7 billion of assets under management. These include 55 premier office properties and, upon completion of the recently announced acquisition of a portfolio of New York assets, a total of 120 power generating plants. The company is listed on the New York and Toronto stock exchanges under the symbol BNN and BNN.a, respectively.

For more information, please visit our web site at www.brascancorp.com or contact:

Katherine C. Vyse Senior
Vice-President
Investor Relations and Communications
Tel:    416-369-8246    e-mail:    kvyse@brascancorp.com

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