New Leadership for Canadian Coalition for Good Governance

    TORONTO, June 16 /CNW/ - Stephen Griggs has been appointed Managing
Director of the Canadian Coalition for Good Governance.
    Mr. Griggs brings a strong corporate law background to the Coalition and
nearly 15 years of on-the-ground experience in investment management. He was
most recently the President and CEO of Legg Mason Canada Inc., the Canadian
operation of the global investment firm Legg Mason, Inc. and has held senior
executive roles with Canadian mutual fund managers AIC Ltd. and BPI Financial
Corporation. He was also recently appointed Chairman and a partner of
Investeco Capital Corp., Canada's first environmental investment company.
    "Stephen's skills and experience will help the CCGG and its members make
significant strides in dealing with complex governance issues in the upcoming
years," said Doug Pearce, Chairman of the CCGG.
    Mr. Griggs will spearhead the CCGG's long-term agenda, an aggressive
mandate that includes:

    -  Ensuring a tight linkage between executive compensation and corporate
       performance that reflects the best interests of shareholders;
    -  Working with the criminal justice system and securities regulators to
       effectively deal with crimes in Canada's capital markets; and
    -  Pushing for clear and timely corporate disclosure on key governance
       policies.

    The coalition thanks outgoing Managing Director David Beatty for his five
years of service. During his tenure, Mr. Beatty was instrumental in developing
the Coalition's guidelines, promoting best practices and creating dialogue on
governance issues.

    The mission of the Canadian Coalition for Good Governance is to represent
Canadian institutional shareholders in the promotion of corporate governance
practices that best align the interests of boards and management with those of
the shareholder. Our 45 members manage approximately $1.4 trillion of assets
on behalf of Canadian investors.

For further information: Mary Stillich, Manager Administration, Canadian
Coalition for Good Governance, (416) 868-3576