CANADIAN COMMERCIAL WORKERS INDUSTRY PENSION PLAN

Investment Performance

(August 25^th, 2008) TORONTO

The Canadian Commercial Workers Industry Pension Plan ("CCWIPP") had another strong year in 2007, achieving an aggregate rate of return of 7.0% which significantly outperformed the average Canadian pension fund's return of 2.9%. The CCWIPP’s investment portfolio generated investment income of $112 million, increasing its net assets to approximately $1.7 billion.

The CCWIPP achieved this performance despite the soaring Canadian dollar relative to foreign currencies, the subprime mortgage crisis in the United States and the collapse of the Canadian market for non-bank, asset-backed commercial paper ("ABCP"). The CCWIPP had no exposure to the subprime-based assets or the non-bank ABCP. These results are attributable to the asset allocation mix initiative, established by the Board of Trustees, and the expertise of the investment professionals.

Read the full report here in PDF format.