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Caisse de dépôt et placement du Québec to rebalance its investment portfolio in selling 9.96 million CGI shares

CGI to buyback $100 million of its shares as part of the transaction

Montreal, Quebec, November 26, 2013 -  

La Caisse de dépôt et placement du Québec (“la Caisse”) and CGI (TSX: GIB.A, NYSE: GIB) announced today that la Caisse will reduce its holding in CGI by 9,962,660 shares. This action is consistent with the portfolio rebalancing policy of la Caisse. Once completed, la Caisse will hold approximately 18.7% of the outstanding shares of CGI.

As part of the transaction, CGI will purchase 25% of the shares sold by la Caisse at a price per share of $40.15 corresponding to the net price that la Caisse obtained from the broker who acquired the remaining 75% of the shares. This represents a discount of 1.40% to the November 25, 2013 closing price of CGI’s shares on the Toronto Stock Exchange.

A favorable decision was obtained from the Autorité des marchés financiers du Québec to exempt CGI from the issuer bid requirements under applicable securities legislation in connection with the transaction.

“CGI's solid performance and flawless integration of Logica have generated an exceptional return on our investment. The timing is right to capture a small portion of it for our depositors," said Michael Sabia, President and Chief Executive Officer of la Caisse. "After this transaction, la Caisse remains a large shareholder of the company – we invested in CGI with a long-term view and we intend to remain a large shareholder. A world leader in information technology, CGI is well positioned for continued success in markets across the world."

“La Caisse has been a key partner of CGI’s for more than three decades,” said Michael E. Roach, President and CEO, CGI. “We are confident that, as a major shareholder and client, our partnership will continue to grow for years to come.”

In accordance with Toronto Stock Exchange rules, the repurchase of the 2,490,660 shares held by la Caisse will be taken into account when calculating the 20.7 million share annual aggregate limit that CGI may repurchase by February, 2014 under its Normal Course Issuer Bid (NCIB). Prior to the transaction, which is expected to close on or about November 29, 2013, CGI had repurchased 718,100 shares under the current NCIB.

About La Caisse de dépôt et placement du Québec

La Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at June 30, 2013, it held $185.9 billion in net assets. As one of Canada’s leading institutional fund managers, la Caisse invests in major financial markets, private equity, infrastructure and real estate globally. For more information: www.lacaisse.com

About CGI

Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 68,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as a wide range of proprietary solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$18 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com.

Forward-Looking Statements

All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are "forward-looking information" within the meaning of Canadian securities laws. These statements and this information represent CGI's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving IT industry; general economic and business conditions; foreign exchange and other risks identified in the press release, in CGI's annual and quarterly Management's Discussion and Analysis ("MD&A"), in CGI's Annual Report, in CGI's Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in the Company's Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The words "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan," and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.

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For more information:

La Caisse de dépôt et placement du Québec
Maxime Chagnon
Senior Director, Media and public relations
mchagnon@lacaisse.com
514 847-5493

CGI
Lorne Gorber
Senior Vice-President, Global Communications and Investor Relations
lorne.gorber@cgi.com
514-841-3355