OMERS Obtains Highest Credit Rating.

Business Editors

TORONTO--(BUSINESS WIRE)--Nov. 14, 2002

OMERS is pleased to announce it has obtained an enterprise or counterparty credit rating of AAA, from both Standard & Poor's (S&P) and Dominion Bond Rating Service Ltd (DBRS). The AAA is the highest rating category assigned by the rating agencies.

This is an important achievement. The current market environment, coupled with the increased complexity of counterparty relationships, demands that credit status be clearly and accurately defined. The premium AAA rating will enable OMERS to more effectively negotiate terms reflective of its true, absolute and relative credit standing.

"We're pleased that the credit rating agencies have recognized OMERS long history of success. Good governance and solid management and investment practices have resulted in 40 years of consistently generating the returns needed to pay secure pensions to our members. This high credit rating will allow us to take advantage of preferred rates and expanded business opportunities for the Fund", noted OMERS President and CEO Dale Richmond.

The ratings were assigned after a thorough analysis and audit process.

OMERS (Ontario Municipal Employees Retirement System) is one of the largest pension plans in Canada with approximately $34 billion in net assets. The jointly managed Board oversees pension services for the 1,000 local government employers and 300,000 active and retired members who participate in the plan. Visit the OMERS website at www.omers.com.

For related news releases see the websites of DBRS at www.dbrs.com and S&P at www.standardandpoors.com.