bcIMC establishes bcIMC Hospitality Group, appoints executive team

    VICTORIA, Dec. 14 /CNW/ - The British Columbia Investment Management
Corporation (bcIMC) has established the bcIMC Hospitality Group, headed by Ed
Pitoniak, President and Chief Executive Officer, and Kevin Grayston, Executive
Vice President and Chief Financial Officer. The announcement was made today by
Doug Pearce, Chief Executive Officer and Chief Investment Officer of bcIMC.
    "The creation of the bcIMC Hospitality Group reflects bcIMC's growing
presence in the hospitality sector and is a key step in moving towards our
goal of becoming Canada's leading hospitality enterprise," said Pearce. "Under
the leadership of Mr. Pitoniak and Mr. Grayston, bcIMC Hospitality Group is
well positioned for future growth in this important sector of the Canadian
    The mandate of the bcIMC Hospitality Group will be to develop and oversee
the execution of bcIMC's strategic, financial, reporting and risk management
plans in the hospitality sector. Initially, it will focus on providing
resources to its key operating entities: Delta Hotels & Resorts, a hotel brand
ownership group, and CHIP, a hotel property ownership group.
    Pearce also announced that Hank Stackhouse will expand his role to that
of President and Chief Operating Officer of Delta Hotels & Resorts and that
Robert Pratt, formerly with Westin and currently Executive Vice President of
CHIP Hotel Operations, has been appointed President of the CHIP Property
Ownership group.
    Both Delta and CHIP will remain independent operating entities under the
bcIMC Hospitality Group parent company.
    "We are delighted with the quality and professionalism of the team that
we have in place both at Delta Hotels & Resorts and at CHIP. In combination
with the bcIMC Hospitality Group, we have a great opportunity to create the
most dynamic hotel company in Canada," said Pearce.

    About bcIMC

    bcIMC is an investment management corporation based in Victoria, B.C.
With over $85 billion in assets under administration with a global exposure,
and supported by industry-leading investment expertise, bcIMC offers fund
management services for all major asset classes, including currency and
infrastructure investment. bcIMC's clients include pension plans, provincial
government operating and sinking funds, public trusts, and insurance funds.
For more information, visit www.bcimc.com.

For further information:

For further information: Gwen-Ann Chittenden, Manager Corporate
Initiatives, British Columbia Investment Management Corporation, Phone: (250)
507-0128, Fax: (250) 387-7874, communications@bcimc.com, www.bcimc.com

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British Columbia Investment Management Corporation (bcIMC)

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