Ivanhoe Cambridge recognized as one of the 50 Best Employers in Canada for
fourth consecutive year

MONTREAL, Jan. 3 /CNW Telbec/ - Ivanhoe Cambridge is proud to announce that it has, for the fourth year in a row, ranked among the 50 Best Employers in Canada, according to the annual survey conducted by Hewitt Associates in conjunction with The Globe and Mail's Report on Business magazine. The list of the 50 Best Employers in Canada for 2008 appears in the January issue of Report on Business, as well as in the December 28, 2007 edition of La Presse. Ivanhoe Cambridge ranked in 18th place in the survey.

"I am very proud to see Ivanhoe Cambridge, once again this year, named one of the 50 Best Employers in Canada and show improvement in the 17 engagement categories of the survey. Our inclusion in this list for the fourth straight year is quite an achievement for us," stated René Tremblay, President and Chief Executive Officer. "This accomplishment is all the more significant in light of our international expansion and the unrivalled scope of the projects we have undertaken to date. Far from discouraging our employees, our numerous projects have been a source of motivation and inspiration for them. Our experienced teams, who are always ready to accept new challenges, are the driving force behind our Company's performance. Being included on the 2008 list is an affirmation of our leadership position in the shopping centre industry and human resources management."

A corporate culture focused on communication and feedback

In early 2007, Ivanhoe Cambridge conducted a series of employee focus groups, during which it identified areas needing improvement and developed an action plan, a key component of which was hiring a Director of Learning and Development. As a follow-up to this step, a calendar of workshops available to all employees that responded to their developmental needs was launched. A program of management skills development was also implemented to continue to improve managers' employee recognition skills. Finally, the B.E.S.T. (Building Exceptional Service Teams) program, intended to reinforce the importance of customer service and teamwork, has been expanded beyond the initial scope of shopping centres and retailers to ensure exceptional and consistent quality of service throughout the entire company. This program was honoured with the 2007 Gold Award for the best internal training program from the Canadian Society of Training and Development.

"We provide our employees with a dynamic and stimulating work environment, access to state-of-the-art technology and unique opportunities for career development and advancement," said David Smith, Vice-President, Human Resources, Ivanhoe Cambridge. "Employees are given the tools and programs they need to optimize their performance, and they are recognized for their achievements. Ranking as one of the 50 Best Employers is proof that our people appreciate the benefits of our approach and that it yields results," he added.

Ivanhoe Cambridge cultivates a collaborative and dynamic corporate culture. Multidisciplinary projects, a focus on effective internal communications, continuous learning and development, regular meetings and social activities all help foster a strong team spirit. The Company encourages performance management based on partnership, recognizing the accomplishments and efforts made by teams and individual employees toward achieving objectives. It also offers its 1,296 employees a very competitive and comprehensive compensation plan.

About the survey

The study was designed and conducted in spring 2007 by Hewitt Associates, a global human resources services company. Organizations employing at least 400 people were asked to participate in the ninth annual survey.

The study is made up of three surveys. A representative number of employees from each participating company completed the Employee Opinion Survey and submitted their responses directly to Hewitt Associates. The results of this survey account for the majority of an organization's final score. It is this aspect of the Best Employers study that distinguishes it from other lists of "top companies": employees determine who the Best Employers are. Participants also complete the Leadership Team Survey and, finally, the Human Resources Survey on human resources policies.

About Hewitt Associates

With more than 65 years of experience, Hewitt Associates (NYSE: HEW) is the world's foremost provider of human resources outsourcing and consulting services. The company consults with more than 2,300 companies and administers human resources, health care, payroll and retirement programs on behalf of more than 340 companies to millions of employees and retirees worldwide. Located in 33 countries, Hewitt employs approximately 24,000 associates. For more information, please visit www.hewitt.com.

About Ivanhoe Cambridge

Ivanhoe Cambridge is a pre-eminent Canadian-based global property owner, manager, developer and investor, focusing on high-quality shopping centres located in urban areas. Beyond its strong Canada-wide presence, the Company is also active in the United States, Brazil, Mexico and Europe, where it owns a number of properties either by itself or through joint ventures with prominent real estate partners. Abroad, Ivanhoe Cambridge also holds interest in several shopping centre development and management companies and maintains offices in Europe and Asia.

Its real estate portfolio consists of almost 46 million square feet of retail space and includes some 70 regional and super-regional shopping centres. As at December 31, 2006, the market value of Ivanhoe Cambridge's assets reached CAD $12.2 billion.

Headquartered in Montreal, Quebec, Canada, Ivanhoe Cambridge is a principal real estate subsidiary of the Caisse de dépôt et placement du Québec, one of the largest institutional fund managers in Canada. Amongst its shareholders, the Company also counts four prominent Canadian pension funds. The Company's Internet address is www.ivanhoecambridge.com.

SOURCE Ivanhoé Cambridge

For further information: For further information: For interview requests: Marcia McDougall, Corporate Relations, Hewitt Associates, (416) 590-8865, Marcia.McDougall@hewitt.com; Sources: David C. Smith, Vice President, Human Resources, Ivanhoe Cambridge, (514) 841-7773, dsmith@ivanhoecambridge.com; Nancy Defoy, Senior Advisor, Communications and Public Affairs, Ivanhoe Cambridge, (514) 841-7792, ndefoy@ivanhoecambridge.com

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