WSC West Street Capital Corp.

West Street Capital Corporation (TSX VENTURE:WSC)(TSX VENTURE:WSC.PR.A) ("West
Street" or the "company") announced today that its major shareholder, Brookfield
Asset Management Inc. ("Brookfield"), has commenced its offer to acquire all of
the issued and outstanding common shares of the company (the "Common Shares")
that Brookfield does not currently own at a price of $0.21 for each Common Share
(the "Offer"), and has mailed the Offer and take-over bid circular to the
Company's shareholders (the "Shareholders"). The directors' circular of the
Company's board of directors (the "Board") has been mailed concurrently with the
Offer and take-over bid circular.


The company's board of directors established a special committee of independent
directors (the "Special Committee") to review the offer. KPMG Corporate Finance
Inc. ("KPMG") acted as independent valuator and financial advisor to the Special
Committee. KPMG delivered a fairness opinion to the Board of Directors and the
Special Committee to the effect that, as of the date thereof and subject to the
assumptions, limitations and qualifications contained therein, the consideration
offered for the Common Shares pursuant to the Offer is fair, from a financial
point of view, to holders of the Common Shares.


Following its review of the terms and conditions of the Offer and the valuation
and fairness opinion of KPMG, as well as its consideration of a number of
factors, the Special Committee unanimously recommended the Offer to the Board of
Directors. After receiving the recommendation of the Special Committee, the
Board of Directors (with Messrs. Driman, Lawson, Lochan and Shah declaring their
interest and abstaining) has unanimously determined that the Offer is in the
best interests of the company and its shareholders and unanimously recommends
that holders of the Common Shares accept the Offer and deposit their Common
Shares under the Offer. 


The Offer will be open for acceptance until 5:00 p.m. (Eastern) on June 4, 2013
(the "Expiry Time") unless extended or withdrawn. Brookfield has advised the
company that it intends to proceed with a second-stage transaction to acquire
any Common Shares not tendered under the Offer. Full details of the Offer are
contained in the take-over bid circular of Brookfield and the company's
directors' circular, copies of which are available under the company's profile
at www.sedar.com. 


CIBC Mellon Trust Company is the depositary for the Offer. Shareholders can
obtain copies of the take-over bid circular and related materials at no charge
from the depositary at 1-800-387-0825 or by email at inquiries@canstockta.com.
Shareholders whose Shares are registered in the name of an investment dealer,
stockbroker, bank, trust company or other nominee should contact such nominee if
they wish to accept the Offer.


FOR FURTHER INFORMATION PLEASE CONTACT: 
West Street Capital Corporation
Mabel W.H. Wong
Vice President, Finance
(416) 363-9491

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