Ontario Teachers' Pension Plan (Teachers') today announced the successful 
completion of its acquisition of a 9.9% stake in Kyobo Life Insurance Co. Ltd. 
(Kyobo), the third-largest insurer in South Korea. 

Teachers' is acquiring the stake from Korea Asset Management Corporation 
(KAMCO) for approximately US$400 million (KRW 468.1 billion) following a sales 
process initiated by KAMCO earlier this year. 

Headquartered in Seoul, Kyobo is a privately held company that offers a broad 
range of life insurance products to its 4.5 million retail customers. This 
transaction is Teachers' first direct investment in Korea and was led by Public 
Equities' Relationship Investing group, which acquires significant minority 
stakes in both publicly-listed and private companies. Relationship Investing 
currently has a range of direct investments throughout Asia including in Hong 
Kong, China, Japan, Malaysia and Indonesia. 

"Kyobo is a leading insurance brand with a strong customer base and financial 
performance," said Wayne Kozun, Senior Vice-President of Public Equities. "We 
believe our investment is a unique opportunity to acquire a sizeable stake in 
the Korean life insurance industry's most profitable company, and further 
expand our direct investments in Asia. We look forward to being a constructive 
partner with Kyobo, its management team and its shareholders." 

About Teachers'
With $117.1 billion in assets as of December 31, 2011, the Ontario Teachers' 
Pension Plan is the largest single-profession pension plan in Canada.  An 
independent organization, it invests the pension fund's assets and administers 
the pensions of 300,000 active and retired teachers in Ontario. For more 
information visit www.otpp.com 

About KAMCO
KAMCO is a Korean quasi governmental entity established to restructure 
corporations, manage state-owned properties and collect overdue taxes. KAMCO 
serves the development of Korea's economy, maximizing government revenue by 
effectively managing government commissioned state-owned properties. 

SOURCE: Ontario Teachers' Pension Plan

/CONTACT:
Deborah Allan
Director, Communications and Media Relations
Ontario Teachers' Pension Plan
+1 416-730-5347
deborah_allan@otpp.com/