Reaction of the Caisse de dépôt et placement du Québec to allegations by Vincent Lacroix

The Caisse de dépôt et placement du Québec has been informed of the allegations made by Vincent Lacroix to the bankruptcy trustee responsible for liquidating the Norbourg Group.

In the Caisse’s opinion, Mr. Lacroix’s accusations and statements regarding it are completely false. The information, data and facts gathered or brought to the attention of the Caisse in no manner support the statements made by Mr. Lacroix to the trustee. Mr. Lacroix’s untrue statements regarding the Caisse are merely a repetition of the false information he has been conveying for several months in an attempt to pass himself off as a victim.

It will be recalled that on May 19, 2006, as a result of a petition filed by the bankruptcy trustee for the Norbourg Group, Mr. Justice Robert Mongeon of the Québec Superior Court, after analyzing the evidence, rendered a judgment against Mr. Lacroix. Judge Mongeon wrote on page 24 of his ruling that Vincent Lacroix admitted that he had stolen from the mutual fund unit holders and that he had lied to the taxation authorities. He described Mr. Lacroix as a person who admitted, but without remorse or compassion for the investors, that he had deceived, duped and dispossessed them while portraying himself as a victim.

Like Judge Mongeon, the Caisse has concluded that Mr. Lacroix’s allegations are devoid of credibility.