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An Important Announcement from Marc Courtois, Chairman of the Board, Canada Post

May 27, 2010

I wish to announce that Moya Greene will leave her post as President and Chief Executive Officer of Canada Post, effective July 14th, 2010. Moya has resigned in order to accept the position of Chief Executive Officer with the Royal Mail in the United Kingdom.

While we are sorry to lose Moya, she leaves Canada Post extremely well placed to face the future. Among Moya’s accomplishments are the $2 billion Postal Transformation program; the significant increase in the annual Employee Engagement scores; and other improvements in safety, on-time delivery, reduced absenteeism and increased automation. These improvements have led, despite the declining use of traditional mail and a recession in 2009, to five consecutive profitable years since her arrival at Canada Post. I think Moya will agree with me that the Royal Mail’s interest in her reflects very positively on Canada Post as a whole and the way our company is viewed by its peers.

In the short-term, our Canada Post Board of Directors will work as quickly as possible to appoint an interim Chief Executive Officer. We are also immediately launching a full-scale search – in collaboration with our shareholder the Government of Canada – for a new Chief Executive Officer. In the meantime, we feel we are very much on the right track with the strategic direction for the company that the board has already approved – and we are confident in the ability of our very strong existing senior management team and the people at Canada Post to achieve those objectives. On behalf of myself and the board, I look forward to working with all of you in this regard. I would also like to wish Moya every success in her future endeavours.

About Canada Post
Canada Post delivered close to 11 billion pieces in 2009 to 14.9 million points of call across Canada. With 59,000 employees and more than 6,500 post offices, Canada Post maintains the largest retail and transportation network in the country. In 2009, net income for Canada Post and its affiliates, which include Purolator Courier, SCI Logistics and Innovapost (jointly owned by Canada Post and CGI), was CDN $281 million on revenues of CDN $7.3 billion. Canada Post provides innovative physical and electronic delivery solutions, creating value for our customers, employees and Canadians. Canada Post has been chosen as one of Canada’s Top 100 employers by Mediacorp for the past four years and in 2009 was named “Most Iconic Brand in Canada” by Brand Finance Canada. Website: http://www.canadapost.ca.