The board of directors of the Caisse de dépôt et placement du Québec reiterates its confidence in senior management

The Board of Directors of the Caisse de dépôt et placement du Québec held a meeting today during which it unanimously adopted a resolution reiterating its confidence in the senior management team. The resolution reads as follows:

“That the Board of Directors unanimously and unequivocally reaffirms its confidence in the President and Chief Executive Officer, Fernand Perreault, and the senior management team of the Caisse;

“That the Board of Directors reiterates its support for the work plan prepared and implemented by the President and Chief Executive officer and the senior management team in response to the global financial crisis;

“That the Board of Directors declares it is satisfied with the progress made to date with the application of senior management’s work plan; and

“That the Board of Directors deplores the current situation as conveyed by the media and its impacts on the Caisse’s employees.”

At the same time, the Board denied the media’s allegations that a plan to replace most of the Caisse’s senior officers was being prepared.

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.