The Caisse de Dépôt et Placement du Québec participates in the exchange offer of Student Transportation of America Ltd



    MONTREAL, Sept. 11 /CNW Telbec/ - The Caisse de dépôt et placement du
Québec (the "Caisse") announces that it has participated in the Student
Transportation of America Ltd. (TSX: STB) ("STA" or the "Company") exchange
offer (the "Offer").
    Under the Offer, the Company offered holders of 14% subordinated notes of
Student Transportation of America ULC ("STA ULC"), a wholly-owned subsidiary
of the Company, 0.67 common shares of STA in exchange for each $3.847
principal amount of subordinated notes of STA ULC.
    Caisse exchanged its $10,000,000 of subordinated notes of STA ULC into
1,741,616 common shares of STA, representing 5.50% of the outstanding common
shares of the Company.
    The Caisse also holds 2,000,000 income participating securities ("IPS
units") of STA ULC. Each IPS unit consists of one common share of STA and
$3.847 principal amount of 14% subordinated notes of STA ULC and 1,867,500
common shares of STA.
    Pursuant to this transaction, and taking into account the common shares
that are included in the IPS units that are held by it, the Caisse now holds
5,609,116 common shares of STA, representing 17.70% of the outstanding common
shares of that class on a partially diluted basis.
    This operation was made for investment purposes and the Caisse could
increase or reduce its investment in STA according to market conditions or
other relevant factors.




For further information:

For further information: Annie Vallières, Media Relations, (514)
847-5493


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