CPP Investment Board Announcement

November 28, 2003 The CPP Investment Board announced today that Mark Weisdorf has resigned as Vice President - Private Market Investments to pursue other interests, effective December 5, 2003. The organization cited differences in management philosophy as the reason for Mr. Weisdorf's departure. "I would like to thank Mark for his efforts and accomplishments in building the private market portion of the portfolio and wish him well in his future endeavours," said John MacNaughton, President & CEO, CPP Investment Board. CPP Investment Board
Created in December 1997, the CPP Investment Board is a crown corporation that invests funds not needed by the Canada Pension Plan to pay current pensions. Cash flows are invested in equities and real estate to balance the bond portfolio owned by the Canada Pension Plan. By increasing the long-term value of funds, the CPP Investment Board will help the Canada Pension Plan to keep its pension promise to Canadians. Located in Toronto, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. For more information on the CPP Investment Board, visit www.cppib.ca. For further information contact: John Cappelletti Manager - Communications and Stakeholder Relations 416-868-0308 jcappelletti@cppib.ca. Or Ian Dale Vice President - Communications and Stakeholder Relations 416-868-4086 idale@cppib.ca