Management Changes at Caisse centrale Desjardins

    MONTREAL, July 28 /CNW Telbec/ - In accordance with Desjardins Group's
strategic objectives, the Board of Directors of Caisse centrale Desjardins
(CCD) announced today the appointment of Mr. Bruno Morin to the position of
General Manager of CCD with overall responsibility for Caisse centrale and
Desjardins Bank as well as for business relations with Desjardins Credit
    Before this appointment, Mr. Morin held the position of Senior
Vice-President, Investment Funds and Trust Services at the Fédération des
caisses Desjardins du Québec. Mr. Morin's mandate includes the development and
optimization of synergies between Caisse centrale and the other components of
Desjardins Group.
    Mr. Raymond Laurin, Senior Vice-President and Chief Financial Officer of
Desjardins Group, will assume the duties of chief financial officer of CCD.
Mr. Jacques Descôteaux, as Senior Vice-President, Treasury of Desjardins
Group, will be in charge of all Desjardins Group's treasury activities.
    "Mr. Morin has the skills and expertise required to successfully carry
out this mandate. He can also count on the support of Messrs. Laurin and
Descôteaux as well as the CCD team. Mr. Morin is a seasoned manager who has
accomplished many complex undertakings at Desjardins. I am confident that he
will carry out his new assignment with the same commitment and effectiveness,
and that he will significantly enhance synergies between CCD and the other
components of Desjardins Group. I would like to stress that our clients and
investors can continue to count on all the services, advice and support they
are accustomed to receiving from the CCD team," pointed out Ms. Monique F.
Leroux, Chair of the Board, President and CEO of Desjardins Group and
President and CEO of Caisse centrale Desjardins.
    These appointments follow the departure of Mr. Jean-Guy Langelier,
President and Chief Operating Officer of Caisse centrale Desjardins and Chief
of the Treasury of Desjardins Group, as well as Mr. Trung Huu Nguyen, Senior
Vice-President, Finances, Strategic Alliances and International of CCD.
    These events took place in the context of an internal audit currently
underway at Caisse centrale Desjardins regarding certain purchasing and
management practices that are considered inappropriate by the CCD Board of
Directors. These practices are not at all related to Desjardins Group's market
and treasury activities and have had no impact on the clients of Caisse
centrale Desjardins.

    About Desjardins Group

    Desjardins Group is the largest integrated cooperative financial group in
Canada, with overall assets of nearly $150 billion, as at March 31, 2008. It
comprises a network of caisses, credit unions and business centres in Québec
and Ontario, and some twenty subsidiary companies in life and general
insurance, securities brokerage, venture capital and asset management, many of
which are active across the country. Drawing on the expertise of its
40,000 employees and the commitment of more than 6,500 elected officers,
Desjardins offers its 5.8 million individual and corporate members and clients
a full range of financial products and services. Its physical distribution
network is complemented by leading-edge virtual access methods. To find out
more, consult

For further information:

For further information: (for journalists only): André Chapleau,
Director, Information and Media Relations, (514) 281-7229, 1-866-866-7000,
ext. 7229,

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