The suspect in a hostage situation that took place inside a random home in Winnipeg Friday died after being shot by police.

The incident unfolded at a residence in King Edward Street in St. James late Friday morning, after a man running from police broke into the home and took people inside it hostage.

Winnipeg police said Friday there was a “exchange of gunfire” when the man confronted police as he was going out the back door.

On Saturday, they said a 34-year-old suspect was killed after officers fired at him when he exited the residence. Police said the man was brandishing a firearm as he left the house.

Officers had also shot at him earlier, when the suspect pointed a firearm at them through a window after he broke into the home, police said in a release Saturday. Several backup units including the tactical support team attended the scene.

At around 11:09 a.m., an adult man ran out of the house and told them two teens were being held hostage by a stranger who had a firearm, the release said.

Officers moved into an armed and barricaded protocol, it said. One of the teens was recued through a main floor window, but the other remained trapped inside with the suspect, police said.

Police say the situation escalated and a fire was set inside the residence. Tactical support team members then entered the home and rescued the remaining teen, after which the suspect exited the home and was shot.

Police said the 34-year-old had outstanding warrants. On Friday, police began looking for him at 10:27 a.m. when members of the Manitoba Integrated Violent Offender Apprehension Unit attempted to stop a vehicle he was driving.

The man rammed a police car and drove off, police said. The vehicle was later confirmed to be stolen.

Several minutes later, officers spotted him walking in the King Edward neighbourhood. He broke into the home on King Edward Street following a brief foot pursuit, police said.

The fire in the home was successfully extinguished after police shot the man. No citizens or police personnel were injured, the release said.

The Independent Investigation Unit of Manitoba is investigating the incident.