Absence of Richard Guay: The activities of the Caisse de dépôt are normally continuing under the interim management of Fernand Perreault

Pierre Brunet, Chairman of the Caisse de dépôt et placement du Québec, stated today that Richard Guay, the institution’s President and Chief Executive Officer, had informed him on November 12, 2008, that he had to suspend his professional activities on the advice of his physician for a period of four weeks.

The Board of Directors accepted Mr. Guay’s recommendation that Fernand Perreault, Executive Vice-President, Real Estate, head the Executive Committee and co-ordinate the Caisse’s operations during that period. “Mr. Perreault is the dean of the Executive Committee and is well versed in the Caisse’s current business. Its operations are continuing normally under his interim management,” Mr. Brunet stated.

Mr. Brunet said that the institution’s priorities during this period of global market turmoil were clear and that the institution’s senior management had a full understanding of their objectives.

Mr. Brunet also indicated that Mr. Guay will resume his activities on December 10, 2008.

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.