CPP Investment Board becomes the first Canadian member of the Enhanced Analytics Initiative

Business Wire, March 27, 2006

TORONTO -- The CPP Investment Board announced today that it has become the first Canadian member of the Enhanced Analytics Initiative (EAI). EAI is an international collaboration of asset owners and fund managers aimed at encouraging investment research that considers the impact of extra-financial issues on long-term company performance.

The EAI total assets under management exceed $1 trillion CAD.

As a full EAI member, the CPP Investment Board has committed to allocate a minimum of five per cent of its annual broker commissions to those research organizations who best analyze the material extra-financial factors that can affect the performance of a company or a sector.

"The Enhanced Analytics Initiative creates a powerful incentive to spur the creation of new research tools and methodologies designed to help investors evaluate the impact on corporate financial performance in areas that have traditionally not been explored," said Don Raymond, Vice President, Public Market Investments, CPP Investment Board. "Our membership provides us increased access to data on the material impact of environmental, social and governance factors which will ultimately help us to maximize investment returns and minimize investment risk over the long-term. We hope other Canadian investors will join us as members of the EAI to improve the calibre of research in this area."

The EAI was established by a group of asset owners and fund managers committed to promoting better sell-side research on extra-financial issues. The current members are:

AGF Asset Management                 BNP Paribas Asset Management
BT Pension Scheme                    Calvert
CPP Investment Board                 Deutscher Investment Trust
Dresdnerbank Investment Management   Generation Investment Management
Hermes Pensions Management           London Pension Fund Authority
Mistra                               PGGM
RCM                                  SNS Reaal Group
Stichting Pensioenfonds ABP          Trade Union Congress (TUC)
Superannuation Society               Universities Superannuation
                                      Scheme

"The EAI is becoming difficult to ignore. The addition of the CPP Investment Board adds significant weight to our initiative to compile better and more detailed analysis of extra financial issues within mainstream research. It is also a further indication that the EAI is responding to the needs of the international community of asset owners and fund managers," said David Blood, Chairman of EAI and CEO of Generation Investment Management.

The CPP fund, which is made up of assets not needed to pay current CPP benefits, is $92.5 billion as at December 31, 2005.

Further details of the Enhanced Analytics Initiative are available at www.enhanced-analytics.com.

CPP Investment Board

The CPP Investment Board invests the funds not needed by the Canada Pension Plan to pay current benefits. With a mandate from the federal and provincial governments, the CPP Investment Board is accountable to Parliament, to the federal and provincial finance ministers who serve as the stewards of the CPP and to 16 million contributors and beneficiaries. Based in Toronto, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. Its fiscal year is from April 1 to March 31. For more information about the CPP Investment Board, visit www.cppib.ca.