Lauch of SSgA DJ-40 Fund

On October 3, 2000, the Montreal-based operation of State Street Global Advisors, Ltd. (SSgA) launched the SSgA Dow Jones Canada 40 Index Participation Fund. The Fund, an exchange-traded fund investing in shares of the 40 constituent companies that comprise the Dow Jones Canada 40 Index, will be managed by SSgA, the investment management arm of Boston-based State Street Corporation. Units are listed on the TSE.

The Caisse de dépôt et placement du Québec has made an initial investment in the fund of approximately C$200 million in the form of a private placement, and a group of leading Canadian investment dealers has subscribed an additional C$275 million worth of units within the context of an initial public offering, making it the largest IPO for an exchange-traded fund in Canadian history.

Lavery, de Billy acted for SSgA in connection with the creation of the Fund, the private placement and the public offering, with a team led by Jean Martel, who was assisted by René Branchaud, Patrick Buchholz, Johanne Duchesne, Réal Favreau and Martin Joyal, in conjunction with Rose Mark, in-house counsel for State Street Trust Company (Toronto), and its special counsel, Michael Sharpe of Blake, Cassels & Graydon LLP. Also assisting were Andy Hone and Amy Bierbaum, in-house counsel for State Street Bank and Trust Company, the Boston-based parent company of SSgA. Counsel for the Caisse was Claude Bergeron, Senior VP Legal Affairs.