News release Press Release

The Caisse de dépôt announces appointment of Daniel Fournier as Executive Vice-President, Real Estate and President, Real Estate Group

Finance Montreal,

Montreal, June 14, 2010  - The Caisse de dépôt et placement du Québec today announced the appointment of Mr. Daniel Fournier as its Executive Vice-President, Real Estate and President, Real Estate Group. Mr. Fournier will take office on July 19, 2010.

Throughout his career, Mr. Fournier has held many major real estate and business positions. He has already been a member of the Caisse’s real estate team, serving as Executive Vice-President and Chief Investment Officer at subsidiary SITQ. Over the past 30 years, he has worked at several Canadian real estate companies such as Canderel, and an asset management company whose clients included Hydro-Québec, Radio-Canada and Standard Life. Mr. Fournier is currently Genivar Income Fund’s Board Chairman and a member of the Canadian Tire Board of Directors. In addition, Mr. Fournier was a board member at various companies active in real estate, including Summit REIT, Standard Life and CB Richard Ellis Canada, where he was Board Vice-Chairman.

“Given the Caisse’s new strategic direction and renewed leadership, I am very delighted to be back to tackle major real estate challenges and help implement the business plan with the Executive team,” said Mr. Fournier.

“I am very pleased that Daniel could rejoin the Caisse team,” said Michael Sabia, Caisse President and Chief Executive Officer. In addition to his entrepreneurship and extensive real estate experience, his ability to promote the Caisse’s agility in the face of changing markets, made him the natural choice for this important position.”

Mr. Fournier is also involved in the community and, over the years, has been President and Founder of NF Canada, Board Chairman of the McCord Museum, and a member of the Sainte-Justine Hospital Foundation, YWCA and YMCA Foundation, Fondation Jean Lapointe and Château Ramezay.

Mr. Fournier holds a Bachelor of History from Princeton University in the U.S. and a Bachelor of Arts in Jurisprudence from Oxford University in the U.K., where he was the recipient of a Rhodes Scholarship.

The Caisse de dépôt et placement du Québec also announced today that Mr. René Tremblay, who is currently Executive Vice-President, Real Estate and President, Real Estate Group, has decided to take on new entrepreneurial challenges outside the Caisse.

“I am grateful to the Caisse for the opportunity to participate in the development of a real estate leader,” said Tremblay. “I am particularly grateful to the Caisse and its Board of Directors for understanding my ambition to pursue entrepreneurial opportunities.”

"I would like to thank René for his significant contribution to our real estate group’s growth, especially during his many years at our subsidiary, Ivanhoe Cambridge, and for his recent involvement in the restructuring of its business,” said Mr. Sabia.

The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2009, it held $131.6 billion in net assets. As one of Canada’s leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate.

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