X0201 4 2004-02-18 0 0001202157 BROOKFIELD HOMES CORP BHS 0001063243 COCKWELL IAN G C/O SUITE 330, BCE PLACE BOX 763, 181 BAY STREET TORONTO A6 M5J 2T3 ONTARIO, CANADA 1 1 0 0 President and CEO Employee Stock Option (Right to Buy) 30.94 2004-02-18 4 A 0 40000 0 A 2014-02-18 Common Stock 40000 486594 D Deferred Share Units 2004-02-18 4 A 0 5818 0 A Common Stock 5818 268184 D The options vest in five equal annual installments beginning on February 18, 2005. 1-for-1 The units vest in five equal annual installments beginning on February 18, 2005. Vested units can only be redeemed after cessation of employment whether due to termination, retirement or death. There will be no shares of common stock issued, authorized, reserved, purchased or sold at any time in connection with units allocated. Under no circumstances will units be considered shares of common stock, or entitle any participant to the exercise of voting rights or to the exercise of any other rights arising from the ownership of shares of common stock. Ian Cockwell 2004-02-19