Teachers’ to bid for increased stakes in Chile water utilities

TORONTO - The Ontario Teachers' Pension Plan (Teachers') today announced it will participate in an auction later this week for stakes in two Chilean water utilities in which it currently owns majority positions.

The current members of the controlling group in Essbio S.A. and Esval S.A. intend to purchase all of the shares being offered by CORFO, a Chilean government agency, in an auction scheduled for July 15. Teachers' currently owns approximately 51.1 percent of Essbio and 69.8 percent of Esval and is a member of the controlling group.

After the conclusion of the auction process, the government of Chile will retain a five percent stake in each of the utilities, enabling it to veto issues such as water rights transfers and utilities concessions. The utilities operate the infrastructure that treats and delivers clean drinking water, takes away wastewater and treats sewage.

More information on Teachers' water utility investments in Chile is available at www.otpp.com/investments/responsible-investing.

With $107.5 billion in assets as of December 31, 2010, the Ontario Teachers' Pension Plan is the largest single-profession pension plan in Canada.  An independent organization, it invests the pension fund's assets and administers the pensions of 295,000 active and retired teachers in Ontario. For more information visit www.otpp.com.

Contact

Deborah Allan
Director, Communications and Media Relations
Ontario Teachers' Pension Plan
(416) 730-5347
deborah_allan@otpp.com