WASHINGTON, D.C. 20549

                                    FORM F-X

                                 AND UNDERTAKING

         A.       Name of issuer or person filing ("Filer"):  COMPUTERSHARE
                  TRUST COMPANY OF CANADA

         B.       (1) This is [check one]:

                  [x] an original filing for the Filer

                  [ ] an amended filing for the Filer

                  (2) Check the following box if you are filing the Form F-X in
                  paper in accordance with Regulation S-T rule 101(b)(9) [ ]

         C.       Identify the filing in conjunction with which this form is
                  being filed:

                   Name of Registrant:                      BRASCAN CORPORATION
                   Form type:                               F-9
                   File Number (if known): 333-112049
                   Filed by:                                COMPUTERSHARE TRUST
                                                            COMPANY OF CANADA

                   Date Filed (if filed concurrently, so
                   indicate):                               JANUARY 21, 2004
                                                            (FILED CONCURRENTLY)

         D.       Filer is incorporated or organized under the laws of CANADA
and has its principal place of business at 100 UNIVERSITY AVENUE, 9TH FLOOR,

         E.       Filer designates and appoints CT CORPORATION SYSTEM ("Agent")
(212) 894-8940 as the agent of the Filer upon whom may be served any process,
pleadings, subpoenas, or other papers in:

                           (a) any investigation or administrative proceeding
                  conducted by the Commission; and

                           (b) any civil suit or action brought against the
                  Filer or to which the Filer has been joined as defendant or
                  respondent, in any appropriate court in any place subject to
                  the jurisdiction of any state or of the United States or of
                  any of its territories or possessions or of the District of

                  Columbia, where the investigation, proceeding or cause of
                  action arises out of or relates to or concerns: (i) any
                  offering made or purported to be made in connection with the
                  securities registered or qualified by the Filer on Form
                  ________ on ______________ or any purchases or sales of any
                  security in connection therewith; (ii) the securities in
                  relation to which the obligation to file an annual report on
                  Form 40-F arises, or any purchases or sales of such
                  securities; (iii) any tender offer for the securities of a
                  Canadian issuer with respect to which filings are made by the
                  Filer with the Commission on Schedule 13E-4F, 14D-1F or
                  14D-9F; or (iv) the securities in relation to which the Filer
                  acts as trustee pursuant to Rule 10a-5 under the Trust
                  Indenture Act of 1939. The Filer stipulates and agrees that
                  any such civil suit or action or administrative proceeding may
                  be commenced by the service of process upon, and that service
                  of an administrative subpoena shall be effected by service
                  upon such agent for service of process, and that the service
                  as aforesaid shall be taken and held in all courts and
                  administrative tribunals to be valid and binding as if
                  personal service thereof had been made.

         F. The Filer stipulates and agrees in connection with its status as
trustee with respect to securities registered on Form F-9 to appoint a successor
agent for service of process and file an amended Form F-X if the Filer
discharges the Agent or the Agent is unwilling or unable to accept service on
behalf of the Filer at any time during which any of the securities subject to
the indenture remain outstanding.

         Each Filer further undertakes to advise the Commission promptly of any
change to the Agent's name or address during the applicable period by amendment
of this form, referencing the file number of the relevant form in conjunction
with which the amendment is being filed.

         The Filer certifies that it has duly caused this power of attorney,
consent, stipulation and agreement to be signed on its behalf by the
undersigned, thereto duly authorized, in Toronto, Ontario, Canada, this 20th day
of January, 2004.

         Filer:                            COMPUTERSHARE TRUST COMPANY OF CANADA

                                           By: /s/ Morag Abraham
                                           Name:   Morag Abraham
                                           Title:  Professional, Corporate Trust

                                           COMPUTERSHARE TRUST COMPANY OF CANADA

                                           By: /s/ Ron Bingley
                                           Name:   Ron Bingley
                                           Title:  Professional, Corporate Trust

         This statement has been signed by the following person in the capacity
and on the date indicated:

                                           CT CORPORATION SYSTEM, as Agent for
                                           Service of Process for Computershare
                                           Trust Company of Canada

                                           By: /s/ Robin LaPeters
                                            Name:  Robin LaPeters
                                            Title: Assistant Secretary