Teachers' 13F confirms 3.3% holding of Petro-Canada shares

    TORONTO, Feb. 5 /CNW/ - The Ontario Teachers' Pension Plan (Teachers')
filed a Form 13F with the U.S. Securities and Exchange Commission after market
close today. The form notes that Teachers' held approximately 16 million
common shares of Petro-Canada, representing 3.3% of the company, as of
December 31, 2008 and 4.3 million common shares as of September 30, 2008.
    Teachers' also has confirmed that it has held discussions with the
management and board of Petro-Canada regarding the creation of shareholder
value. Those discussions are continuing.

    The Ontario Teachers' Pension Plan is the largest single-profession
pension plan in Canada. An independent organization, it invests the pension
fund's assets and administers the pensions of 278,000 active and retired
teachers in Ontario.

For further information:

For further information: Deborah Allan, Director, Communications and
Media Relations, (416) 730-5347, deborah_allan@otpp.com

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