July 15, 2011

TORONTO - The Ontario Teachers' Pension Plan (Teachers') today announced it has increased its stakes in two Chilean water utilities after making successful bids in government-held auctions.

With the completion of the auction process today by CORFO, a Chilean government agency, the controlling group led by Teachers' increased its ownership in Essbio S.A. to 89.6 percent from 51.1 percent and now holds 94.2 percent of Esval S.A., up from 69.8 percent. The successful bid for the additional shares was approximately C$541 million (CLP261 billion).

Teachers' has been a significant investor in the utilities, which operate the infrastructure that treats and delivers clean drinking water, takes away wastewater and treats sewage, since 2007. CORFO retains a five percent stake in Essbio and Esval, enabling it to veto issues such as water rights transfers and utilities concessions.

"We are pleased to be increasing our ownership of Essbio and Esval and look forward to supporting the future development of both companies," said Stephen Dowd, Senior Vice-President, Teachers' Infrastructure Group. "Chile continues to be an excellent place to invest. As long-term investors, we are attracted by the ability of these two companies to generate predictable returns over many years to help meet the plan's pension obligations."

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

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Media Contact

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

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