Ivanhoe Cambridge announces the appointment of its new President and CEO

MONTREAL, Sept. 3 /CNW Telbec/ - René Tremblay, Chairman of the Board of Directors of Ivanhoe Cambridge, is pleased to announce the appointment of Kim D. McInnes as President and Chief Executive Officer. Mr. McInnes is succeeding Mr. Tremblay, who on August 11 became Executive Vice-President, Real Estate, and President of the Real Estate group of the Caisse de dépôt et placement du Québec. This appointment is effective immediately.

"Mr. McInnes has more than 25 years of experience in the shopping centre industry and has an in-depth knowledge of Ivanhoe Cambridge. On behalf of the Board, I would like to congratulate him and thank him for accepting this challenge. I am sure he will be successful in fulfilling the Company's mission and vision and fostering its ongoing development and prosperity," said Mr. Tremblay.

M. McInnes will assume his responsibilities at the head office of Ivanhoe Cambridge in Montreal.

"I am honoured to be taking over the reins of this dynamic global organization specializing in the management and development of high-quality shopping centres. I am pleased to settle in Montreal. I look forward to continuing to work with the experienced, driven teams of professionals who have made Ivanhoe Cambridge a recognized leader in its industry," Mr. McInnes stated.

Mr. McInnes had been Executive Vice President and Chief Operating Officer at Ivanhoe Cambridge since 2001, when Ivanhoe and Cambridge Shopping Centres Limited merged. In this capacity, he has been a key contributor to the growth and success of the Company. He was responsible for overseeing various teams and projects, both in Canada and abroad. He had held this same position at Cambridge since 1996. Prior to joining Cambridge, Mr. McInnes served in various senior-level management positions with such prestigious firms as Marathon Realty and Markborough Properties. He also worked in London, England, as Director of Financial Analysis at Murrain, Samuels and Bentley and as Financial Analyst for Credit Suisse First Boston. Mr. McInnes is currently a Trustee of the International Council of Shopping Centers (ICSC) and Vice President of its Canadian Division.

    
    About Ivanhoe Cambridge
    -----------------------
    

Ivanhoe Cambridge is a pre-eminent Canadian-based global property owner, manager, developer and investor, focusing on high-quality shopping centres located in urban areas. Beyond its strong Canada-wide presence, the Company is also active in the United States, Brazil, Mexico and Europe, where it owns a number of properties either by itself or through joint ventures with prominent real estate partners. Abroad, Ivanhoe Cambridge also holds interests in several shopping centre development and management companies and maintains offices in Europe and Asia.

Its real estate portfolio consists of more than 49 million square feet (4.6 million square metres) of retail space and includes 80 regional and super-regional shopping centres. As at December 31, 2008, the market value of Ivanhoe Cambridge's assets reached CAD $14.5 billion.

Headquartered in Montreal, Quebec, Canada, Ivanhoe Cambridge is a principal real estate subsidiary of the Caisse de dépôt et placement du Québec, a leading Canadian institutional fund manager. Amongst its shareholders, the Company also counts four prominent Canadian pension funds. The Company's Internet address is www.ivanhoecambridge.com.

    
    Biographical data
    -----------------
    

Kim D. McInnes is President and Chief Executive Officer of Ivanhoe Cambridge. In this capacity, he heads the Company's management committee and serves on its Board of Directors.

Prior to his appointment as President and CEO, Mr. McInnes had been Ivanhoe Cambridge's Executive Vice President and Chief Operating Officer since 2001, the year that marked the merger between Ivanhoe Inc. and Cambridge Shopping Centres Ltd. He had been Executive Vice President and Chief Operating Officer of Cambridge since 1996.

Mr. McInnes has more than 25 years of experience in the shopping centre industry and has held senior-level positions with such prominent firms as Marathon Realty, Markborough Properties and Cambridge. Before joining Marathon Realty, he worked in London, England, as Director of Financial Analysis with Murrain, Samuels and Bentley and as Financial analyst at Credit Suisse First Boston.

Mr. McInnes earned his Master of Urban Development from Oxford University's Joint Centre for Urban Development in England. He also graduated with a Bachelor of Arts degree (Hons.) in Urban Studies from the University of British Columbia.

He is currently a Trustee of the International Council of Shopping Centers (ICSC) and Vice President of its Canadian Division.

In 1999, Mr. McInnes was singled out for recognition as one of Canada's Top 40 under 40, as part of the national program founded and managed by Caldwell Partners International. This prestigious honour is bestowed upon those who have shown outstanding leadership in their chosen field.

/NOTE TO PHOTO EDITORS: A photo accompanying this release is available at http://photos.newswire.ca. Images are free to accredited members of the media/

For further information: élène-L. Brault, Director, Communications and Public Affairs, Ivanhoe Cambridge, [phone], [email protected]