Major Investments (As at December 31, 2007)
	Bonds I Real Estate I Private Companies/Partnerships I Corporate Shares
Bonds and real-return investments ($ billions)     Government of Canada bonds $16.2     Canadian and international corporate bonds 10.2     Canadian inflation-sensitive bonds, notes and mortgages 7.9     Province of Ontario debentures and provincial bonds 6.1     International government and real-return bonds and debt 5.9     Commercial paper and bank notes 4.8     Canadian treasury bills 1.6
Real estate managed by subsidiary ($ billions)     The Cadillac Fairview Corporation Limited $16.4
Top 10 real estate holdings     Chinook Centre, Calgary     Pacific Centre, Vancouver     Le Carrefour Laval, Montreal     Polo Park Mall, Winnipeg     Les Promenades St. Bruno, Montreal     Sherway Gardens, Toronto     Lime Ridge Mall, Hamilton     Toronto-Dominion Centre Office Complex, Toronto     Masonville Place, London     Toronto Eaton Centre, Toronto
Top 10 private companies and partnerships     Bernstein Global Long/Short Equity Portfolio L.P.     Hancock Timber Resource Group     Birmingham International Airport     Maple Leaf Sports & Entertainment Ltd.     Canary Wharf Group plc     Orbis Sicav Global Equity Fund     CTVglobemedia Inc.     Resource Management Service Inc.     GCT Global Container Terminals Inc.     Scotia Gas Networks PLC
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	For more information, please see our annual report.
Corporate shares/units (at Dec. 31, 2007 ) ($ millions)     Security Name (millions) view alphabetical Shares ($) Fair Value     BCE Inc. 50. 8 2,032.9     Nexen Inc. 53. 7 1,724.4     Deutsche Telekom AG 46. 6 1,010.1     Northumbrian Water Group plc 135. 1 916.2     Macquarie Infrastructure Group 285. 5 774.3     Transurban Group 115. 8 714.3     Maple Leaf Foods Inc. 42. 7 634.5     Royal Bank of Scotland Group, plc 66. 5 579.8     Multiplan Empreendimentos Imobiliários S.A. 51. 3 541.3     Eni S.p.A. 14. 2 514.3     Royal Utilities Income Fund 40. 3 434.0     MMX Mineracao e Metalicos SA 0. 8 395.9     Microsoft Corporation 8. 9 313.2     Samsung Electronics Co., Ltd. 0. 5 290.5     Nippon Telegraph and Telephone Corporation 0. 1 279.4     Manitoba Telecom Services Inc. 5. 7 267.7     Macdonald, Dettwiler and Associates Ltd. 6. 1 252.8     Hitachi, Ltd. 34. 3 252.4     Intel Corporation 8. 9 234.9     Sumitomo Mitsui Financial Group, Inc. 0. 03 224.8     Sanofi-Aventis 2. 4 217.0     Bayerische Motoren Werke AG 3. 5 212.4     Pfizer Inc. 9. 4 211.5     Unilever N.V. 5. 8 210.0     Petroleo Brasileiro S.A. 1. 9 209.8     Nestlé SA 0. 5 205.7     Idea Cellular Limited 58. 8 204.3     Canadian National Railway Company 4. 2 195.0     Siemens AG 1. 1 179.8     Total SA 2. 8 172.9 *   Akzo Nobel N.V. 2. 1 163.0     Manulife Financial Corporation 4. 0 162.7     Royal Bank of Canada 3. 2 161.4     Mitsubishi UFJ Financial Group, Inc. 17. 2 158.7     Johnson & Johnson 2. 4 156.1     Goldcorp Inc. 4. 5 153.8     Citigroup Inc. 5. 1 147.6     EnCana Corp. 2. 2 145.7     HSBC Holdings plc 8. 6 144.0     Portugal Telecom, SGPS, SA 10. 7 138.0     Kobenhavns Lufthavne A/S 0. 3 137.9     Research In Motion Limited 1. 2 134.6     Vodafone Group Plc 35. 9 134.0     Novartis AG 2. 5 133.2     International Business Machines Corporation 1. 2 130.6     Suncor Energy, Inc. 1. 2 129.3     Bank of Nova Scotia 2. 5 128.1     Barrick Gold Corporation 3. 1 128.0     GlaxoSmithKline plc 4. 9 124.8     Potash Corporation of Saskatchewan Inc. 0. 9 124.5     TD Ameritrade Holding Corp 6. 3 124.0     Micron Technology, Inc. 17. 2 123.2     Safeway Inc. 3. 6 122.7     Verizon Communications Inc. 2. 8 122.5     Toronto-Dominion Bank, The 1. 7 119.1     European Aeronautic Defence and Space Company NV 3. 8 119.0     Softchoice Corporation 5. 1 118.8     American International Group, Inc. 2. 0 113.7     ING Groep N.V. 2. 9 110.9     CRH plc 3. 2 108.5     Canadian Natural Resources Ltd. 1. 4 103.2     Home Depot Inc. 3. 4 90.7     Lockheed Martin Corporation 0. 9 90.7     Sherritt International Corporation 6. 5 86.2     Sun Life Financial Inc. 1. 5 85.3     Freddie Mac 2. 5 84.2     Companhia Vale do Rio Doce 2. 9 81.0     Altria Group, Inc. 1. 1 79.8     Bank of Montreal 1. 4 79.7     Petro-Canada 1. 5 78.4     Illinois Tool Works Inc. 1. 5 78.4     Procter & Gamble Co 1. 1 77.3     Gannett Company, Inc. 2. 0 76.1     Tele Norte Leste Participacoes S.A. 2. 6 75.5     Telecom Italia SpA 27. 4 74.5     SK Telecom Co., Ltd. 0. 6 73.4     SAP AG 1. 4 72.9     Telefonos de Mexico SA de CV 8. 2 72.4     Berkshire Hathaway Inc. 0. 02 72.3     Liberty International PLC 3. 4 71.7     Canadian Imperial Bank of Commerce 1. 0 68.7     NuVista Energy Ltd 5. 2 67.6     Dominion Resources Inc/VA 1. 4 66.8     AstraZeneca PLC 1. 5 65.4     MAN AG 0. 4 65.2     Rogers Communications, Inc. 1. 4 64.9     JPMorgan Chase & Co. 1. 5 64.8     Dell Inc. 2. 5 61.5     ArcelorMittal SA 1. 1 59.7     Bristol-Myers Squibb Company 2. 3 59.6     AT&T Inc. 1. 4 57.6     France Telecom SA 1. 6 57.4     Aegon N.V. 3. 3 57.3     E.ON AG 0. 3 55.5     Rio Tinto plc 0. 5 54.5     Talisman Energy Inc. 2. 9 52.7     TransCanada Corporation 1. 3 52.5     Comcast Corporation 2. 9 52.4     BAE Systems PLC 5. 3 52.2     Alcatel-Lucent 7. 2 51.8     ProEx Energy Ltd 4. 4 51.6     Bell Aliant Regional Communications Income Fund 1. 7 50.6     *Includes fair market value of STRIP securities

	Posted April 2008	TOP