June 2, 2008

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:

I acknowledge receipt of your letter dated May 22, 2008, received in my office on May 28, 2008.

I very much appreciate your taking the time to provide me with such a speedy response to my inquires regarding the CPP Board’s Investing program.

I intend to take you up on your offer and will be in contact with Mr. Babak Abbaszadeh in order to set up a meeting at a mutually convenient time.

Sincerely,

Percy E. Downe
Senator