Desjardins Completes Offering

Pursuant to its recently established €5 billion Global Covered Bond Programme, La Caisse centrale Desjardins du Québec (“CCDQ”) completed an offering in the United States under Rule 144A and Regulation S of an aggregate amount of US$1,000,000,000 Series 1 2.55 per cent covered bonds due March 24, 2016 (the “Covered Bonds”). The Covered Bonds trade on the London Stock Exchange and are irrevocably and unconditionally guaranteed as to timely payment of principal and interest by CCDQ Covered Bond Guarantor Limited Partnership. RBS Securities Inc., Barclays Capital Inc., HSBC Securities (USA) Inc., and Morgan Stanley & Co. Incorporated acted as lead managers for the March 24, 2011 issuance.

CCDQ was advised by in-house counsel Caroline Thomassin and Christine Malenfant and assisted in Canada by McCarthy Tétrault LLP with a team including Marc MacMullin, Robert Metcalfe, Frederic Cotnoir, Mary Jeanne Phelan, Candace Pallone, Tim Stewart, Jo-Anna Brimmer, Jennifer McGoey, Tina Benson, Ryan Hornby, Gabrielle Richards and Andrew Silverman (tax); in the United Kingdom by Rob Brant, Achal Kapila and Alexander Strong of McCarthy Tétrault and in the United States by Mayer Brown LLP with a team including Eddie Best, Meredith Tapper and Russell Nance and Michael Marion (tax).

The lead managers were advised in Canada by Osler, Hoskin & Harcourt LLP with a team including Etienne Massicotte, Vitale Santoro, William Cambron and Rick Fullerton and in the United States by Allen & Overy LLP with a team including Lawton Camp, John Hwang, Nicola Rogers and Jonathan Lee


Andrew Silverman Mary Jeanne F. Phelan Frédéric Cotnoir Gabrielle M.R. Richards Marc J. MacMullin Candace M. Pallone Vitale A. Santoro Etienne Massicotte Richard J. Fullerton Jo-Anna Brimmer Robert J. Brant Jennifer McGoey Timothy Stewart Edward S. Best Ryan Hornby Tina Benson Robert P. Metcalfe William Cambron