Mr. David Denison
President and Chief Executive Officer
CPP Investment Board
One Queen Street East
Suite 2600, PO Box 101
Toronto ON M5C 2W5

Dear Mr. Denison:

Thank you for your letter of December 20, 2007.

Of particular interest, I noted in your response that the CPP Investment Board will be conducting a portfolio review to ensure compliance with the recently announced sanctions imposed on Burma through the Special Economic Measure Regulations announced by the Minister of Foreign Affairs on December 14, 2007, a copy of which is attached for your ease of reference.

Would you advise if this review will be made public?

Is it the intention of the CPP Investment Board to be in full compliance with the measures announced by the Government of Canada?

I was pleased to note that this year the CPP Investment Board did “an enhanced portfolio review specifically with regard to human rights concerns in Burma.”

I would appreciate it if you would forward me the results of your review.

Your assistance is greatly appreciated.

Sincerely,

Original signed by

Percy E. Downe
Senator

Encl.

-----------------------------------------------------------------------------