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Centre de commerce mondial 
413, rue St-Jacques, bureau 700 
Montréal (QC) H2Y 1N9


Otéra Capital welcomes Karen Laflamme to the Board of Directors

October 1 2009

 Montréal, October 1, 2009 - Otéra Capital is pleased to announce the addition of Karen Laflamme to its Board of Directors.  "The Management Committee, all employees of Otéra Capital and members of the Board are joining me in welcoming our new director Karen Laflamme" said René Tremblay, Chairman of the Board of Otéra Capital.

Karen Laflamme was promoted to Senior Vice-President, Real Estate, in August 2009. In this role, she supports the Executive Vice-President, Real Estate, and President of the Caisse's Real Estate group in the integrated management of the group's activities. She is also responsible for managing, optimizing the returns of and ensuring risk management for two real estate investments portfolios with total net holdings exceeding $25 billion in equity as at December 31, 2008. In addition, she sits on the Board of Directors of the Caisse's real estate subsidiaries and has a hand in developing the Real Estate group's orientations and strategies.

Karen Laflamme joined the Caisse in 1993. Prior to her recent appointment, she had been Vice-President, Real Estate Portfolio, with the Caisse's Real Estate group since January 2005.

From 2003 to 2005, she held the position of Vice-President, Internal Audit, where she was in charge of assessing risk management, control and corporate governance processes. In 2002, management appointed her Leader of the Corporate Appraisal Group. Prior to this, she worked with the Real Estate group for nine years, including six as Director, Administration and Finance.

Ms. Laflamme began her career in 1984 at Clarkson Gordon (Ernst & Young), first as an Auditor and subsequently as an Audit Team Leader. She remained at the firm until 1989. She then worked for four years at CN Real Estate as a Senior Accountant.Ms. Laflamme is a chartered accountant with over two decades of experience in the auditing and real estate sectors.

Karen Laflamme belongs to the Canadian Institute of Chartered Accountants, the Ordre des comptables agréés du Québec, the Board of Trade of Metropolitan Montréal, Réseau HEC, the Association of Foreign Investors in Real Estate and the Pension Real Estate Association. She is also active on the Board of Directors of the Fondation Pointe-à-Callière and the Institute of Corporate Directors, Québec Chapter.


About Otéra Capital
Otéra Capital offers a full range of commercial real estate financing, from underwriting to asset management, as well as conventional mortgages and structured products.  The Montréal-based company is active in Canada, the United States and Europe. Otéra Capital is a subsidiary of the Caisse de dépôt et placement du Québec, one of the largest institutional fund managers in Canada and the United States.  Otéra Capital is one of Canada's five main commercial mortgage lenders and is represented on the U.S. market through CW Capital, an American real estate financing leader.  Its portfolio under management stood at CDN $25.8 billion at December 31, 2008.

Source et information

François Gaboury
Director Communications
Otéra Capital

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