Allegations regarding a plan to replace most of the senior managers of the Caisse de dépôt et placement du Québec

Pierre Brunet, Chairman of the Caisse de dépôt et placement du Québec, and Fernand Perreault, President and Chief Executive Officer, today denied categorically the allegations in the media that a plan to replace a large portion of the members of the Executive Committee had been prepared or was in preparation.

“These allegations are unfounded. They are prejudicial to the people concerned and to the institution in that they create doubt about the legitimacy of its officers and may adversely affect its business relationships,” Messrs. Brunet and Perreault stated.

They also said that the Caisse was in possession of no document that, directly or indirectly, set out such a plan, and that if such a document existed, it did not come from the Caisse and had not been drawn up by it.

About the Caisse de dépôt et placement du Québec
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, 2007, it held $155.4 billion of net assets. One of the leading institutional fund managers in Canada, the Caisse invests in the main financial markets as well as in private equity and real estate. For more information: www.cdpq.com.