Unique Partnership Between Solidarity Fund QFL and the Institute for Governance of Private and Public Organizations

    MONTREAL, June 26 /CNW Telbec/ - The Solidarity Fund QFL ("Fund") and the
Institute for Governance of Private and Public Partnerships ("IGPPO") today
announced an alliance aimed at offering director training to the partner
companies of the Fund and its network.
    By providing Board members with a clear explanation of their role and
responsibilities, business owners will be able to fully leverage solid,
independent expertise. As such, the course will be adapted to the different
realities of Québec SMEs, i.e., family businesses, IT and biotech firms and
public companies as well as manufacturers and their special challenges.
    Between now and the end of the year, the IGPPO will work with the Fund to
develop the training program, choose the trainers and promote the course. The
trainers will all be well versed in the particular situation of SMEs, a key
element for the program success.
    "The training program will be adapted to the specific needs of SMEs and
is in response to the SME governance recommendations made by the working group
chaired by Michel Audet. In an increasingly complex economic environment,
entrepreneurs can only gain by surrounding themselves with credible, competent
people to help grow their company and face the many challenges that come with
this growth. By asking the directors of our partner companies to improve their
governance practices through solid training, we are helping create even more
competitive companies in Québec," said the Fund's chief executive, Yvon
    "Unlike big companies, SMEs are less inclined to call on outside
resources to help with their growth. Our challenge was to develop a training
program suited to the realities and real needs of SME owners and their
directors. Thanks to the deep SME expertise we've acquired over the last
25 years, we know that with our training, SME leaders will come to view
governance as a means of creating value rather than just red tape," added
Michel Nadeau, executive director of the IGPPO, an organization created by a
joint initiative of HEC Montréal and Concordia University. The institute is
supported by more than ten private and public organizations, including the
Jarislowsky Foundation, Autorité des marches financiers and BCE.

    About the Institute for Governance of Private and Public Organizations

    Established in September 2005, the Institute for Governance of Private
and Public Organizations (IGPPO) is a joint initiative of HEC Montréal and
Concordia University (The John Molson School of Business). The Institute is
committed to promoting strong corporate governance practices among
organizations in Quebec and the rest of Canada. Its operations focus primarily
on key management activities, namely defining the corporate mission,
evaluating strategic management and financial performance, recruiting and
compensating officers and managing risk. It achieves this primarily through
research, training, the issue of position papers and the dissemination of
information. The training is based on the "value-creating governance" model
developed by Drs. Yvan Allaire and Mihaela Firsirotu, who have published a
number of works on governance. Dr. Allaire is chairman of the IGOPP Board of
directors. The Institute commissions academic research, organizes conferences
and training seminars, takes part in public debates on governance issues,
reinforces governance-related skills and promotes partnership and knowledge
transfer. For more information, visit www.igopp.org

    About the Solidarity Fund QFL

    With net assets of over $7.4 billion as at November 30, 2007, the
Solidarity Fund QFL is a development capital company that through its RRSP
channels the savings of Quebecers into investments in all sectors of the
economy to help create and maintain jobs and to further Québec's economic
growth. The Fund is a partner, either directly or through its network members,
in 1,696 companies. It currently has more than 575,000 shareholders and has
helped, on its own or with other financial partners, to create, maintain and
protect over 122,000 jobs. For more information, visit www.fondsftq.com.

For further information:

For further information: The telephone numbers provided below are for
the exclusive use of journalists and other media representatives. Michel
Nadeau, Executive director of the IGPPO, HEC Montréal, Concordia University,
(514) 340-6956, mnadeau@igopp.org; Josée Lagacé, Senior Advisor, Press
Relations and Communications, Fonds de solidarité FTQ, (514) 850-4835,

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