The 2007 Annual General Meeting of The Canada Life Canadian Pension Plan Members’ Rights Group (CLPENS) was held at The Royal Canadian Legion, 6 Spring Bank Avenue, Toronto, at 7:00 p.m. on Wednesday, November 14, 2007.

Attendance: 105 CLPENS members; all 8 members of the Executive Committee; and 4 invited guests (Mark Zigler and Clio Godkewitsch of Koskie Minsky; Jonathan Foreman of Harrsion Pensa; and John-Paul Marentette, plaintiff) were in attendance.

Opening remarks – The President, Wib Antler, opened the meeting by introducing the CLPENS Executive Committee. He noted that David Kidd would act as the meeting’s secretary and would also vote the 57 proxies which had been assigned to the Executive Committee. Wib introduced the guests and thanked them for their attendance. He also thanked John Wakeford and Rod Norton for acting as scrutineers on any voting matters.

Treasurer’s Report – Gary Nummelin provided the Treasurer’s Report.

Start of the year balance $44,214.95

Revenue $ 7,781.40

Expenses $21,526.77

End of year balance $30,469.58

Gary noted that most of the expenses for the year were for actuarial services to support the Executive Committee’s work.

Announcement of Settlement Offer - Wib advised that the 3 week delay in the AGM enabled him to announce that a settlement offer would be presented to members at tonight’s meeting.

SERP - Wib noted that CLPENS’ role involved the regular staff pension plan and that CLPENS is not involved with ongoing developments regarding the supplemental retirement plan (SERP) as the Company’s actions in this area do not have an impact on the regular plan. He further advised that a SERP action is being pursued and that any interested members should contact either Dennis Caponi at 416-367-4417 or Mark Zigler at Koskie Minsky, 416-595-2090 for further information.

Past Year’s Activity - Wib gave a brief overview of Executive Committee activity over the past year. He noted that there had been much activity but that he and other Executive Committee members had been (and remain) bound by a Communication and Confidentiality Agreement.

Outgoing Executive Committee Members - Wib announced that Fred Taggart’s term of office had expired and that Fred had decided not to seek re-election and that Phil Davy had decided not to continue on the Executive Committee. He thanked both Fred and Phil for their hard work over the years.

Terms of the Settlement Offer - Wib introduced Mark Zigler who gave a “big picture” account of the terms of a Memorandum of Understanding regarding a potential settlement agreement that had been signed by Canada Life and would be signed after the meeting by the CLPENS Executive Committee.

Mark’s comments will be summarized and posted on the CLPENS website as soon as we are legally cleared to do so. Mark stressed that, while significant progress had been made to date and that the proposed settlement was reasonable, there was still much work to do including court attendances; communication packages, information meetings and consent agreements for all plan members; and regulatory/court applications and approvals. He stated that finalizing and implementing this type of settlement can take a long time and that we would get back to members with a target schedule once the deal has been signed

Mark stressed the importance of waiting for the agreed-upon details to be posted and the danger of word-of-mouth communication. He asked all attendees to keep the information to themselves until such posting is made.

Election of Executive Committee - Wib noted that 3 Executive Committee members whose terms expired as of this AGM had agreed to stand for re-election. Upon a motion by Tony Lawes which was seconded by Karen Lubinsky, David Kidd, Brian Lynch and Jim Martin were unanimously re-elected for a 2-year term.

Adjournment - There being no further business, upon a motion by Cec Adams which was seconded by Gordon Conant, the meeting was adjourned.

General Meeting Minutes October 25, 2006

General Meeting Minutes October 19, 2005

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