October 26, 2001

To: The Administrators of All Ontario Regulated Pension Plans

The Government of Canada has enacted regulations to assist in the fight against terrorism. Those regulations, enacted under the authority of the United Nations Act and referred to as the United Nations Suppression of Terrorism Regulations contain restrictions on dealing with assets owned or controlled by listed persons and require disclosure to the Royal Canadian Mounted Police (RCMP) and the Canadian Security Intelligence Service (CSIS), of property owned or controlled by listed persons. The listed persons are included in a schedule to the regulations, and that list has recently been amended.

The complete text of the regulations and a consolidated list as of October 12, 2001, of the listed persons, is available on the Office of the Superintendent of Financial Institutions (OSFI) web site (www.osfi-bsif.gc.ca). It is expected that OSFI will update their website, if and when the roster of listed persons is amended. You may also access the OSFI web site via the Financial Services Commission of Ontario (FSCO) web site (www.fsco.gov.on.ca).

I wish to bring to your attention these regulations that apply to Canadian citizens and entities, such as pension funds. A review of the investments of your pension fund and the members, former members and other beneficiaries of your pension plan for any listed persons, and the reporting of any matches to the RCMP and CSIS is required. For details on how to report to the RCMP and CSIS, please refer to the OSFI web site. It is not necessary to report to FSCO at this time.

Sincerely,


Philip Howell
Chief Executive Officer and
Superintendent of Financial Services (Acting)