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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000718940-04-000020.txt : 20040514
<SEC-HEADER>0000718940-04-000020.hdr.sgml : 20040514
<ACCEPTANCE-DATETIME>20040513200740
ACCESSION NUMBER:		0000718940-04-000020
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20040514

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CGI GROUP INC
		CENTRAL INDEX KEY:			0001061574
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-56777
		FILM NUMBER:		04804328

	BUSINESS ADDRESS:	
		STREET 1:		1130 SHERBROOKE ST WEST
		STREET 2:		5TH FL
		CITY:			MONTREAL QUEBEC CANA
		STATE:			E6
		ZIP:			00000
		BUSINESS PHONE:		5148413200

	MAIL ADDRESS:	
		STREET 1:		1130 SHERBROOKE ST WEST
		STREET 2:		5TH FLOOR
		CITY:			MONTREAL QUEBEC
		STATE:			E6

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BCE INC
		CENTRAL INDEX KEY:			0000718940
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				99999999
		STATE OF INCORPORATION:			A8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		1000 DE LA GAUCHETIERE OUEST
		STREET 2:		BUREAU 4100 MONTREAL
		CITY:			QUEBEC CANADA
		STATE:			A8
		ZIP:			H3B 4Y7
		BUSINESS PHONE:		5143977000

	MAIL ADDRESS:	
		STREET 1:		1000 DE LA GAUCHETIERE OUEST
		STREET 2:		BUREAU 4100 MONTREAL
		CITY:			QUEBEC CANADA
		STATE:			A8
		ZIP:			H3B 4Y7

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BELL CANADA ENTERPRISES INC
		DATE OF NAME CHANGE:	19880111
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>bcecgi13d.htm
<DESCRIPTION>SCHEDULE 13-D RE: CGI GROUP INC.
<TEXT>
<HTML>
<HEAD>
<TITLE>AutoCoded Document</TITLE>
</HEAD>
<BODY>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>UNITED
  STATES<br>
  </B></FONT><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>SECURITIES
  AND EXCHANGE COMMISSION<br>
  </B></FONT><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>Washington,
  D.C. 20549</B></FONT></P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>SCHEDULE
  13D</B></FONT></P>
<div align="justify"> </div>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>Under
  the Securities Exchange Act of 1934</B></FONT></P>
<table width="99%" border="0">
  <tr>
    <td>
      <div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b>CGI
        Group Inc.</b></font></div></td>
  </tr>
  <tr>
    <td valign="top">
<hr noshade color="Black" size="1"></td>
  </tr>
  <tr>
    <td>
      <div align="center"><font size="2" face="Arial, Helvetica, sans-serif">(Name
        of Issuer) </font></div></td>
  </tr>
</table>
<br>
<table width="99%" border="0">
  <tr>
    <td>
      <div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Class
        A Subordinate Shares </strong></font></div></td>
  </tr>
  <tr>
    <td>
      <hr noshade color="Black" size="1">
    </td>
  </tr>
  <tr>
    <td>
      <div align="center"><font size="2" face="Arial, Helvetica, sans-serif">
        (Title of Class of Securities) </font></div></td>
  </tr>
</table>
<br>
<table width="99%" border="0">
  <tr>
    <td>
      <div align="center">
        <p align="center"><b><font size="2" face="Arial, Helvetica, sans-serif">3</font></b><font size="2" face="Arial, Helvetica, sans-serif"><b>9945C
          10 9</b></font></p>
        <font size="2" face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td>
      <hr noshade color="Black" size="1">
    </td>
  </tr>
  <tr>
    <td>
      <div align="center"><font size="2" face="Arial, Helvetica, sans-serif">(CUSIP
        Number) </font></div></td>
  </tr>
</table>
<P ALIGN="center">&nbsp; </P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>BCE Inc.<br>
  </B></FONT><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>1000, rue de
  la Gaucheti&egrave;re Ouest<br>
  Bureau 3700<br>
  Montreal, Quebec, H3B 4Y7<br>
  Canada</B></FONT></P>
<div align="justify">
  <table width="99%" border="0">
    <tr>
      <td><hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td>
        <div align="center"><font size="2" face="Arial, Helvetica, sans-serif">(Name,
          Address and Telephone Number of Person Authorized <br>
          to Receive Notices and Communications) </font></div></td>
    </tr>
  </table>
  <br>
  <table width="99%" border="0">
    <tr>
      <td>
        <div align="center">
          <p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b>May
            3, 2004</b></font></p>
          <font size="2" face="Arial, Helvetica, sans-serif"></font></div></td>
    </tr>
    <tr>
      <td>
        <hr noshade color="Black" size="1">
      </td>
    </tr>
    <tr>
      <td>
        <div align="center"><font size="2" face="Arial, Helvetica, sans-serif">(Date
          of Event which Requires Filing of this Statement)</font></div></td>
    </tr>
  </table>
  <br>
  <table width="99%" border="0">
    <tr valign="bottom">
      <td colspan="3"> <p align="justify"><font size="2" face="Arial, Helvetica, sans-serif">If
          the filing person has previously filed a statement on Schedule 13G to
          report the acquisition that is the subject of this Schedule 13D, and
          is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g),
          check the following box </font><FONT face="Times New Roman, Times, serif" size=3>__</FONT></p></td>
    </tr>
    <tr>
      <td width="54%">&nbsp;</td>
      <td width="5%" valign="top"> <div align="left"> </div>

      </td>
      <td width="41%" valign="top">&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td valign="top">&nbsp;</td>
      <td valign="top">&nbsp;</td>
    </tr>
    <tr>
      <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><i>Note:
          </i>Schedules filed in paper format shall include a signed original
          and five copies of the Schedule, including all exhibits. See Rule 13d-7
          for other parties to whom copies are to be sent. </font></div></td>
    </tr>
    <tr>
      <td height="21" colspan="3">&nbsp;</td>
    </tr>
    <tr>
      <td height="21" colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
          information required on this cover page shall not be deemed to be &#147;filed&#148;
          for the purpose of Section 18 of the Securities Exchange Act of 1934
          (&#147;Exchange Act&#148;) or otherwise subject to the liabilities of
          that section of the Exchange Act but shall be subject to all other provisions
          of the Exchange Act (however, see the Notes). </font></div></td>
    </tr>
  </table>
  <p align="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif">(Continued
    on following pages) <br>
    (Page 1 of 12 pages) </FONT></p>
  <p align="center">&nbsp;</p>
  <hr noshade color="Black" size="2">
  <p align="center">&nbsp;</p>
  <p align="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>SCHEDULE
    13D </B></FONT></p>
  <p>&nbsp;</p>
  <table width="99%" border="0">
    <tr valign="bottom">
      <td width="33%"> <hr noshade color="Black" size="1"> </td>
      <td width="33%">&nbsp;</td>
      <td width="33%"> <div align="right">
          <hr noshade color="Black" size="1">
        </div></td>
    </tr>
    <tr>
      <td width="33%"> <div align="center"><font size="2" face="Arial, Helvetica, sans-serif">CUSIP
          No. <b>39945C 10 9</b></font></div></td>
      <td width="33%">&nbsp;</td>
      <td width="33%"> <div align="center"><font size="2" face="Arial, Helvetica, sans-serif">Page
          2 of 12 Pages</font></div></td>
    </tr>
    <tr valign="top">
      <td> <hr noshade color="Black" size="1"> </td>
      <td>&nbsp;</td>
      <td> <div align="right">
          <hr noshade color="Black" size="1">
        </div></td>
    </tr>
  </table>

  <p>&nbsp;</p>
  <table width="99%" border="0">
    <tr valign="top">
      <td colspan="6"> <div align="center">
          <hr noshade color="Black" size="1">
        </div></td>
    </tr>
    <tr>
      <td width="7%" rowspan="2"> <div align="center"><font size="4"><font face="Arial, Helvetica, sans-serif">1</font></font></div></td>
      <td colspan="5" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">NAME
        OF REPORTING PERSON <br>
        S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON </font></font></td>
    </tr>
    <tr>
      <td width="7%" valign="top">&nbsp;</td>
      <td colspan="4" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">BCE
        Inc. </font></font></td>
    </tr>
    <tr valign="top">
      <td colspan="6"> <div align="center">
          <hr noshade color="Black" size="1">
        </div></td>
    </tr>
    <tr>
      <td width="7%" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">2</font></div></td>
      <td colspan="4" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">CHECK
        THE APPROPRIATE BOX IF A MEMBER OF A GROUP</font></font></td>
      <td width="7%" valign="top"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">(a)</font><FONT face="Times New Roman, Times, serif" size=3>_</FONT><font size="1" face="Arial, Helvetica, sans-serif">
          <br>
          (b)</font><FONT face="Times New Roman, Times, serif" size=3><u> x </u></FONT></div></td>
    </tr>
    <tr valign="top">
      <td colspan="6"> <hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td bgcolor="#CCCCCC"> <div align="center"></div>
        <div align="center"><font face="Arial, Helvetica, sans-serif"><font size="4">3</font></font></div></td>
      <td colspan="5" valign="top" bgcolor="#CCCCCC"><font size="1" face="Arial, Helvetica, sans-serif">SEC
        USE ONLY</font></td>
    </tr>
  </table>
  <table width="99%" border="0">
    <tr>
      <td colspan="7" valign="top"> <div align="center">
          <hr noshade color="Black" size="1">
        </div></td>
    </tr>
    <tr>
      <td width="7%" rowspan="2" valign="middle"> <div align="center"><font face="Arial, Helvetica, sans-serif"><font size="4">4</font></font></div></td>
      <td colspan="4" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        SOURCE OF FUNDS </font></td>
      <td width="5%" colspan="2" rowspan="2">&nbsp;</td>
    </tr>
    <tr>
      <td width="7%" valign="top"><font size="1">&nbsp;</font></td>
      <td colspan="3" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">WC
        </font></td>
    </tr>
    <tr>
      <td colspan="7" valign="top"> <div align="center"><font face="Arial, Helvetica, sans-serif"></font></div>
        <hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td width="7%" valign="middle"> <div align="center"><font face="Arial, Helvetica, sans-serif"><font size="4">5</font></font></div></td>
      <td colspan="4" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
        2(d) or 2(e) </font></td>
      <td width="5%" valign="top"> <div align="right"></div></td>
      <td width="5%" valign="top"><div align="right"><FONT face="Times New Roman, Times, serif" size=3>__</FONT></div></td>
    </tr>
    <tr>
      <td colspan="7" valign="top"><font size="1">&nbsp;</font> <hr noshade color="Black" size="1">
      </td>
    </tr>
    <tr>
      <td width="7%" rowspan="2" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">6</font></div></td>
      <td colspan="6" valign="top"> <p><font size="1" face="Arial, Helvetica, sans-serif">
          CITIZENSHIP OR PLACE OF ORGANIZATION</font></p></td>
    </tr>
    <tr>
      <td width="7%" valign="top"><font size="1">&nbsp;</font></td>
      <td colspan="3" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">Canada</font><font size="1">&nbsp;</font></td>
      <td colspan="2" valign="top">&nbsp;</td>
    </tr>
    <tr>
      <td colspan="7" valign="top"> <hr noshade color="Black" size="1"> </td>
    </tr>
    <tr>
      <td colspan="2" rowspan="11" valign="top"> <div align="center">
          <p><font size="1" face="Arial, Helvetica, sans-serif">NUMBER OF <br>
            SHARES BENEFICIALLY OWNED BY<br>
            EACH <br>
            REPORTING <br>
            PERSON<br>
            WITH</font></p>
        </div></td>
      <td width="9%" rowspan="2" valign="middle"> <div align="center"><strong><font size="4" face="Arial, Helvetica, sans-serif">7</font></strong></div></td>
      <td colspan="4" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        SOLE VOTING POWER</font></td>
    </tr>
    <tr>
      <td width="7%" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
      <td colspan="3" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">30,954,732
        </font></td>
    </tr>
    <tr>
      <td colspan="5" valign="top"><hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td width="9%" rowspan="2" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">8</font></div>
        <div align="center"></div></td>
      <td colspan="4" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        SHARED VOTING POWER </font></td>
    </tr>
    <tr>
      <td width="7%" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
      <td colspan="3" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">97,341,793</font></td>
    </tr>
    <tr>
      <td colspan="5" valign="top"><hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td width="9%" rowspan="2" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">9</font></div></td>
      <td colspan="4" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        SOLE DISPOSITIVE POWER </font></td>
    </tr>
    <tr>
      <td width="7%" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
      <td colspan="3" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">30,954,732</font></td>
    </tr>
    <tr>
      <td colspan="5" valign="top"><hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td rowspan="2" valign="middle"><div align="center"><font size="4" face="Arial, Helvetica, sans-serif">10</font></div></td>
      <td colspan="4" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        SHARED DISPOSITIVE POWER </font></td>
    </tr>
    <tr>
      <td valign="top"><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
      <td colspan="3" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">97,341,793</font></td>
    </tr>
    <tr>
      <td colspan="7" valign="top"><hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td rowspan="2" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">11</font></div></td>
      <td colspan="6" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON </font></td>
    </tr>
    <tr>
      <td width="7%"><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
      <td colspan="5"><font size="1" face="Arial, Helvetica, sans-serif">128,296,525
        </font><font size="1" face="Arial, Helvetica, sans-serif">&nbsp; </font></td>
    </tr>
    <tr>
      <td colspan="7" valign="top"> <hr noshade color="Black" size="1"> </td>
    </tr>
    <tr>
      <td valign="middle"> <div align="center"><font face="Arial, Helvetica, sans-serif"><font size="4">12</font></font></div></td>
      <td colspan="4" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">CHECK
        BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES </font></td>
      <td width="5%" valign="top"> <div align="right"></div></td>
      <td width="5%" valign="top"><div align="right"><FONT face="Times New Roman, Times, serif" size=3>__</FONT></div></td>
    </tr>
    <tr>
      <td colspan="7" valign="top"> <hr noshade color="Black" size="1"> </td>
    </tr>
    <tr>
      <td rowspan="2" valign="middle"><div align="center"><font size="4" face="Arial, Helvetica, sans-serif">13</font></div></td>
      <td colspan="6"><font size="1" face="Arial, Helvetica, sans-serif">PERCENT
        OF CLASS REPRESENTED BY AMOUNT IN ROW (11) </font></td>
    </tr>
    <tr>
      <td width="7%">&nbsp;</td>
      <td colspan="5"><font size="1" face="Arial, Helvetica, sans-serif">31.3%</font></td>
    </tr>
    <tr>
      <td colspan="7" valign="top"> <hr noshade color="Black" size="1"> </td>
    </tr>
    <tr>
      <td rowspan="2" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">14</font></div></td>
      <td colspan="6" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">TYPE
        OF REPORTING PERSON</font></td>
    </tr>
    <tr>
      <td width="7%" valign="top">&nbsp;</td>
      <td colspan="5" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        CO</font></td>
    </tr>
    <tr>
      <td colspan="7" valign="top"> <hr noshade color="Black" size="1"> </td>
    </tr>
  </table>
  <p>&nbsp;</p>
  <hr noshade color="Black" size="2">
  <p>&nbsp;</p>
  <table width="99%" border="0">
    <tr valign="bottom">
      <td width="33%"> <hr noshade color="Black" size="1">
      </td>
      <td width="33%">&nbsp;</td>
      <td width="33%"> <div align="right">
          <hr noshade color="Black" size="1">
        </div></td>
    </tr>
    <tr>
      <td width="33%"> <div align="center"><font size="2" face="Arial, Helvetica, sans-serif">CUSIP
          No. <b>39945C 10 9</b></font></div></td>
      <td width="33%">&nbsp;</td>
      <td width="33%"> <div align="center"><font size="2" face="Arial, Helvetica, sans-serif">Page
          3 of 12 Pages</font></div></td>
    </tr>
    <tr valign="top">
      <td> <hr noshade color="Black" size="1"> </td>
      <td>&nbsp;</td>
      <td> <div align="right">
          <hr noshade color="Black" size="1">
        </div></td>
    </tr>
  </table>
  <p align="left"><b><font size="2" face="Arial, Helvetica, sans-serif"></font></b></p>
  <table width="99%" border="0">
    <tr valign="top">
      <td colspan="6"> <div align="center">
          <hr noshade color="Black" size="1">
        </div></td>
    </tr>
    <tr>
      <td width="7%" rowspan="2"> <div align="center"><font size="4"><font face="Arial, Helvetica, sans-serif">1</font></font></div></td>
      <td colspan="5" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">NAME
        OF REPORTING PERSON <br>
        S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON </font></font></td>
    </tr>
    <tr>
      <td width="7%" valign="top">&nbsp;</td>
      <td colspan="4" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">3787877
        Canada Inc. </font></font></td>
    </tr>
    <tr valign="top">
      <td colspan="6"> <div align="center">
          <hr noshade color="Black" size="1">
        </div></td>
    </tr>
    <tr>
      <td width="7%" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">2</font></div></td>
      <td colspan="4" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">CHECK
        THE APPROPRIATE BOX IF A MEMBER OF A GROUP</font></font></td>
      <td width="7%" valign="top"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">(a)</font><FONT face="Times New Roman, Times, serif" size=3>_</FONT><font size="1" face="Arial, Helvetica, sans-serif">
          <br>
          (b)</font><FONT face="Times New Roman, Times, serif" size=3><u> x</u></FONT></div></td>
    </tr>
    <tr valign="top">
      <td colspan="6"> <hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td bgcolor="#CCCCCC"> <div align="center"></div>
        <div align="center"><font face="Arial, Helvetica, sans-serif"><font size="4">3</font></font></div></td>
      <td colspan="5" valign="top" bgcolor="#CCCCCC"><font size="1" face="Arial, Helvetica, sans-serif">SEC
        USE ONLY</font></td>
    </tr>
    <tr valign="top">
      <td colspan="6"> <div align="center">
          <hr noshade color="Black" size="1">
        </div></td>
    </tr>
    <tr>
      <td width="7%" rowspan="2" valign="middle"> <div align="center"><font face="Arial, Helvetica, sans-serif"><font size="4">4</font></font></div></td>
      <td colspan="4" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        SOURCE OF FUNDS </font></td>
      <td width="5%" rowspan="2">&nbsp;</td>
    </tr>
    <tr>
      <td width="7%" valign="top"><font size="1">&nbsp;</font></td>
      <td colspan="3" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">AF</font></font><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;
        </font></td>
    </tr>
    <tr valign="top">
      <td colspan="6"> <div align="center"><font face="Arial, Helvetica, sans-serif"></font></div>
        <hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td width="7%" valign="middle"> <div align="center"><font face="Arial, Helvetica, sans-serif"><font size="4">5</font></font></div></td>
      <td colspan="4" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
        2(d) or 2(e) </font></td>
      <td width="5%" valign="top"> <div align="right"><FONT face="Times New Roman, Times, serif" size=3>__</FONT></div></td>
    </tr>
    <tr valign="top">
      <td colspan="6"><font size="1">&nbsp;</font> <hr noshade color="Black" size="1">
      </td>
    </tr>
    <tr>
      <td width="7%" rowspan="2" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">6</font></div></td>
      <td colspan="5" valign="top"> <p><font size="1" face="Arial, Helvetica, sans-serif">
          CITIZENSHIP OR PLACE OF ORGANIZATION</font></p></td>
    </tr>
    <tr>
      <td width="7%" valign="top"><font size="1">&nbsp;</font></td>
      <td colspan="3" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">Canada</font><font size="1">&nbsp;</font></td>
      <td valign="top">&nbsp;</td>
    </tr>
    <tr valign="top">
      <td colspan="6"> <hr noshade color="Black" size="1"> </td>
    </tr>
    <tr>
      <td colspan="2" rowspan="11" valign="top"> <div align="center">
          <p><font size="1" face="Arial, Helvetica, sans-serif">NUMBER OF <br>
            SHARES BENEFICIALLY OWNED BY<br>
            EACH <br>
            REPORTING<br>
            PERSON<br>
            WITH</font></p>
        </div></td>
      <td width="9%" rowspan="2" valign="middle"> <div align="center"><strong><font size="4" face="Arial, Helvetica, sans-serif">7</font></strong></div></td>
      <td colspan="3" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        SOLE VOTING POWER</font></td>
    </tr>
    <tr>
      <td width="7%" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
      <td colspan="2" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">0
        </font></td>
    </tr>
    <tr>
      <td colspan="4" valign="top"><hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td width="9%" rowspan="2" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">8</font></div>
        <div align="center"></div></td>
      <td colspan="3" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        SHARED VOTING POWER </font></td>
    </tr>
    <tr>
      <td width="7%" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
      <td colspan="2" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">8,268,125</font></font></td>
    </tr>
    <tr>
      <td colspan="4" valign="top"><hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td width="9%" rowspan="2" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">9</font></div></td>
      <td colspan="3" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        SOLE DISPOSITIVE POWER </font></td>
    </tr>
    <tr>
      <td width="7%" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
      <td colspan="2" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">0
        </font></td>
    </tr>
    <tr>
      <td colspan="4" valign="top"><hr noshade color="Black" size="1"></td>
    </tr>
    <tr>
      <td rowspan="2" valign="middle"><div align="center"><font size="4" face="Arial, Helvetica, sans-serif">10</font></div></td>
      <td colspan="3" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        SHARED DISPOSITIVE POWER </font></td>
    </tr>
    <tr>
      <td valign="top"><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
      <td colspan="2" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">8,268,125</font></font></td>
    </tr>
    <tr>
      <td colspan="6" valign="top"><hr noshade color="Black" size="1"></td>
    </tr>
    <tr valign="top">
      <td rowspan="2" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">11</font></div></td>
      <td colspan="5"><font size="1" face="Arial, Helvetica, sans-serif"> AGGREGATE
        AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON </font></td>
    </tr>
    <tr>
      <td width="7%"><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
      <td colspan="4"><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;
        </font><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">8,268,125</font></font><font size="1" face="Arial, Helvetica, sans-serif">&nbsp;
        </font></td>
    </tr>
    <tr valign="top">
      <td colspan="6"> <hr noshade color="Black" size="1"> </td>
    </tr>
    <tr>
      <td valign="middle"> <div align="center"><font face="Arial, Helvetica, sans-serif"><font size="4">12</font></font></div></td>
      <td colspan="4" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">CHECK
        BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES </font></td>
      <td width="5%" valign="top"> <div align="right"><FONT face="Times New Roman, Times, serif" size=3>__</FONT></div></td>
    </tr>
    <tr valign="top">
      <td colspan="6"> <hr noshade color="Black" size="1"> </td>
    </tr>
    <tr>
      <td rowspan="2" valign="middle"><div align="center"><font size="4" face="Arial, Helvetica, sans-serif">13</font></div></td>
      <td colspan="5"><font size="1" face="Arial, Helvetica, sans-serif">PERCENT
        OF CLASS REPRESENTED BY AMOUNT IN ROW (11) </font></td>
    </tr>
    <tr>
      <td width="7%">&nbsp;</td>
      <td colspan="4"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">2.0%</font></font></td>
    </tr>
    <tr valign="top">
      <td colspan="6"> <hr noshade color="Black" size="1"> </td>
    </tr>
    <tr>
      <td rowspan="2" valign="middle"> <div align="center"><font size="4" face="Arial, Helvetica, sans-serif">14</font></div></td>
      <td colspan="5" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">TYPE
        OF REPORTING PERSON</font></td>
    </tr>
    <tr>
      <td width="7%" valign="top">&nbsp;</td>
      <td colspan="4" valign="top"><font size="1" face="Arial, Helvetica, sans-serif">
        CO</font></td>
    </tr>
    <tr valign="top">
      <td colspan="6"> <hr noshade color="Black" size="1"> </td>
    </tr>
  </table>
  <p>&nbsp;</p>
  <hr noshade color="Black" size="2">
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif"><font size="1"> </font></FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif"><b>Item 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Security
    and Issuer</u>.</b></FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B> </B>&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;This
    statement on Schedule 13D relates to the Class A Subordinate Shares (the &#147;Class
    A Shares&#148;) of CGI Group Inc., a Canadian corporation (the &#147;Company&#148;).
    The principal executive offices of the Company are located at 1130 Sherbrooke
    Street West, 5th Floor, Montreal, Quebec, Canada, H3A 2M8. A joint filing
    agreement has been filed as Exhibit 1 to this Statement pursuant to Rule 13d-1(k)
    promulgated under the Securities Exchange Act of 1934, as amended (the &#147;Exchange
    Act&#148;). </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>Item 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;Identity
    and Background</u>. </B></FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;This
    Statement on Schedule 13D (this &#147;Statement&#148;) is being filed by BCE
    Inc. (&#147;BCE&#148;) and 3787877 Canada Inc. (&#147;3787877&quot;, together
    with BCE, the &#147;Reporting Persons&#148; and each, a &#147;Reporting Person&#148;).
    </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;3787877
    is a corporation organized under the laws of Canada, and is a wholly-owned
    subsidiary of BCE. BCE is a corporation organized under the laws of Canada.
    The address of the principal office of BCE is 1000, rue de la Gaucheti&egrave;re
    Ouest, Bureau 3700, Montreal, Quebec, Canada H3B 4Y7. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;The
    address of the principal place of business of 3787877 is 1000, rue de la Gaucheti&egrave;re
    Ouest, Bureau 4100, Montreal, Quebec, Canada H3B 5H8. The principal business
    activity of BCE is communications. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;The
    principal business of 3787877 is to serve as a holding company for securities
    of the Company. BCE is Canada&#146;s largest communications company. Through
    its 26 million customer connections, BCE provides communication services to
    residential and business customers in Canada. Under the Bell brand, BCE&#146;s
    services include local, long distance and wireless phone services, high speed
    and wireless Internet access, IP-broadband services, value-added business
    solutions and direct-to-home satellite and VDSL television services. Other
    BCE businesses include media company Bell Globemedia, and Telesat, a leader
    in satellite operations and systems management. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;Set
    forth on Schedules A-1 and A-2 to this statement, and incorporated herein
    by reference, are lists of the executive officers and directors of the Reporting
    Persons that contain the following information with respect to each such person:
    (i) name; (ii) business address; (iii) title; and (iv) citizenship. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;During
    the last five years, none of the Reporting Persons and, to the best knowledge
    of the Reporting Persons, none of the persons named on Schedules A-1 and A-2
    hereto has been convicted in a criminal proceeding (excluding traffic violations
    or similar misdemeanors) or has been a party to a civil proceeding of a judicial
    or administrative body of competent jurisdiction as a result of which such
    person was or is subject to a judgment, decree or final order enjoining future
    violations of, or prohibiting or mandating activities subject to, federal
    or state securities laws or finding any violation with respect to such laws.
    </FONT></p>
  <p>&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">Page 4
    of 12</font></p>
  <hr noshade color="Black" size="2">
  <p align="center">&nbsp;</p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>Item 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Source
    and Amount of Funds or other Consideration</u>. </B></FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
    to the terms of the Subscription Receipt Agreement (as defined in Item 6 below),
    on March 19, 2004 3787877 acquired from the Company 8,268,125 subscription
    receipts (&#147;Subscription Receipts&#148;) at a price of Cdn. $8.00 per
    Subscription Receipt for a total consideration of Cdn. $66,145,000. Pursuant
    to the terms of the Subscription Receipt Agreement, effective as of 5:00 p.m.
    on May 3, 2004, 3787877 became entitled to receive, without payment of additional
    consideration or further action, one Class A Subordinate Share of the Company
    (&#147;Class A Share&#148;) in respect of each of the 8,268,125 Subscription
    Receipts held by it. The foregoing description of the Subscription Receipt
    Agreement is qualified in its entirety by reference to the full text of the
    Subscription Receipt Agreement, a copy of which is included as Exhibit 2 to
    this Statement and is incorporated herein by reference.</FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif"> &nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;All
    funds used by 3787877 to acquire the above-listed securities were provided
    to 3787877 by BCE. BCE provided the funds out of working capital. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>Item 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Purpose
    of Transaction</u>. </B></FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;BCE
    (through 3787877) purchased the Subscription Receipts as part of the Company&#146;s
    private offering of subscription receipts in Canada (the &#147;Company Offering&#148;)
    to raise proceeds to partially fund the payment of the acquisition price of
    all issued and outstanding common shares of American Management Systems, Incorporated
    under the Company&#146;s cash tender offer for such common shares. BCE has
    no current intention to dispose of its investment in the Company or to acquire
    additional securities of the Company. However, BCE reserves the right to change
    its plans and intentions with respect to the Company at any time and BCE may,
    from time to time, sell or acquire Class A Shares (or other securities of
    the Company) in public or private transactions, subject to the rights and
    restrictions set forth in the July Agreement (as defined in Item 6 below).
    </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;The
    matters set forth in Item 6 below are incorporated in this Item 4 by reference
    as if fully set forth herein. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;Except
    as set forth in this Item 4 (including the matters described in Item 6 which
    are incorporated in this Item 4 by reference), the Reporting Persons have
    no present plans or proposals that relate to, or that would result in, any
    of the actions specified in clauses (a) through (j) of Schedule 13D of the
    Exchange Act. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>Item 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest
    in Securities of the Issuer</u>. </B></FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;BCE
    is the beneficial owner of 128,296,525 Class A Shares representing 31.3% of
    the outstanding Class A Shares. 3787877 is the beneficial owner of 8,268,125
    Class A Shares representing 2.0% of the outstanding Class A Shares. The calculation
    of the foregoing percentages is based on the 410,067,155 Class A Shares outstanding
    as of May 11, 2004. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;BCE
    has the power to vote or to direct the vote or dispose or direct the disposition
    of 128,296,525 Class A Shares. 3787877 has the power to vote or to direct
    the vote or dispose or direct the disposition of 8,268,125 Class A Shares.
    </FONT></p>
  <p>&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">Page 5
    of 12 </font></p>
  <hr noshade color="Black" size="2">
  <p>&nbsp;</p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;(c)&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;Effective
    as of May 3, 2004, 3787877 acquired 8,268,125 Class A Shares pursuant to the
    Company Offering. Except for the transaction described herein, there were
    no transactions effected in the past sixty days in this class of securities
    by either 3787877 or BCE. </font></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;(d)&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;Not
    applicable. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;(e)&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;Not
    applicable. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>Item 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Contracts,
    Arrangements, Understanding or Relationships with respect to Securities of
    the Issuer</u>. </B></FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;The
    response to Item 4 of this statement is incorporated herein by reference.
    </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;In
    consideration for $66,145,000, BCE, acting through 3787877, acquired 8,268,125
    Subscription Receipts issued pursuant to a Subscription Receipt Agreement
    entered into on March 19, 2004 (the &#147;Subscription Receipt Agreement&#148;),
    among the Company, Computershare Trust Company of Canada (the &#147;Escrow
    Agent&#148;), National Bank Financial Inc. and Credit Suisse First Boston
    Canada Inc. (together, the &#147;Underwriters&#148;) in connection with the
    Company Offering. Pursuant to the terms of the Subscription Receipt Agreement,
    effective as of May 3, 2004 the Escrow Agent issued to 3787877, without payment
    of additional consideration or any further action of 3787877, one Class A
    Share of the Company for each subscription receipt held by 3787877. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;This
    description of the Subscription Receipt Agreement is qualified in its entirety
    by reference to the Subscription Receipt Agreement, a copy of which has been
    filed as Exhibit 2 to this statement and is incorporated herein by reference.
    </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;In
    connection with the Company Offering (including the purchase by BCE (through
    3787877) of the 8,268,125 Subscription Receipts), each of BCE and the Majority
    Shareholders (as such term is defined below) entered into an agreement with
    the Underwriters dated March 10, 2004 (the &#147;Standstill Agreement&#148;)
    pursuant to which it agreed that until 120 days after the Closing Date of
    the Company Offering (that is, until July 18, 2004), it would not (subject
    to certain specified limited exceptions) directly or indirectly sell, agree
    or offer to sell, grant any option for the sale of, pledge or otherwise dispose
    of, or request that the Company file any registration statement or prospectus
    relating to the sale of, any Class A shares, Subscription Receipts, Class
    B Shares or other securities convertible or exchangeable into Class A Shares
    it owns, or publicly disclose any such intention to do any of the foregoing
    without the prior written consent of the Underwriters (such consent not to
    be unreasonably withheld or delayed). </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;This
    description of the Standstill Agreement is qualified in its entirety by reference
    to the Standstill Agreement, a copy of which has been filed as Exhibit 3 to
    this statement and is incorporated herein by reference. </FONT></p>
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;BCE
    and 3588513 Canada Inc. (&#147;3588513&#148;), a wholly-owned subsidiary of
    BCE are parties to an agreement dated July 24, 2003 (the &#147;July Agreement&#148;)
    with the Company. Upon the entering into of the July Agreement, BCE and 3588513
    converted all of the 7,027,606</FONT></p>
  <p>&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">Page 6
    of 12 </font></p>
  <hr noshade color="Black" size="2">
  <p>&nbsp;</p>
  <p><font size="2" face="Arial, Helvetica, sans-serif"> Class B (Multiple Voting)
    Shares (&#147;Class B Shares&#148;) of the Company that they held into Class
    A Shares on a one-for-one basis. The three individual majority shareholders
    of the Company, Messrs. Serge Godin, Andre Imbeau and Jean Brassard and their
    respective holding companies (collectively, the &#147;Majority Shareholders&#148;),
    intervened to the July Agreement to be bound by certain of the terms of the
    same. Pursuant to the terms of the July Agreement, provided that certain conditions
    are satisfied, BCE continues to have representation on the Board of Directors
    of the Company. The Majority Shareholders have undertaken to exercise the
    voting rights attached to their respective shares of the Company for the election
    of that number of representatives, as specified in the July Agreement, of
    BCE on the Board of Directors of the Company. BCE, for its own account and
    on behalf of any of its wholly-owned subsidiaries holding shares of the Company,
    has undertaken to exercise the voting rights attached to such shares in favor
    of the election of each of Messrs. Godin, Imbeau and Brassard as a director
    of the Company, to the extent that each of them is still, at the time of the
    vote, an officer of the Company and able under applicable law to act as a
    director. The July Agreement may result in BCE being considered a member of
    a group with Messrs. Godin, Imbeau and Brassard under Rule 13d-5. </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;At
    December 31, 2003, the Majority Shareholders held in the aggregate 34,814,770
    Class A Shares (including 33,772,168 Class A Shares issuable upon conversion
    of 33,772,168 Class B Shares) and held options for the acquisition of 1,509,000
    Class A Shares. BCE disclaims beneficial ownership of such shares. </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;This
    description of the July Agreement is qualified in its entirety by reference
    to the July Agreement, a copy of which has been filed as Exhibit 4 to this
    statement and is incorporated herein by reference. </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;BCE
    and its wholly-owned subsidiaries holding any Class A Shares or Class B Shares
    or other securities of the Company (collectively, &#147;Securities&#148;)
    have certain registration rights with respect to the Securities held by them
    pursuant to the terms and conditions set forth in the Registration Rights
    Agreement entered into as of July 1, 1998 among BCE, Bell Canada and the Company
    (the &#147;Registration Rights Agreement&#148;). </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;This
    description of the Registration Rights Agreement is qualified in its entirety
    by reference to the Registration Rights Agreement, a copy of which has been
    filed as Exhibit 5 to this statement and is incorporated herein by reference.
    </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;Except
    as described above or elsewhere in this Statement or incorporated by reference
    in this Statement, there are no contracts, arrangements, understandings or
    relationships (legal or otherwise) between any of the Reporting Persons or,
    to the best of their knowledge, any of the other persons named in Item 2 and
    between such persons and any person with respect to any securities of the
    Company, including but not limited to transfer or voting of any of the securities,
    finder&#146;s fees, joint ventures, loan or option arrangements, put or calls,
    guarantors of profit, division of profit or loss or the giving or withholding
    of proxies.</font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif"> <B>Item 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Material
    to be filed as Exhibits</u>. </B></font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">Exhibit 1:<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Joint
    Filing Agreement among BCE Inc. and 3787877 Canada Inc. </font></p>
  <p>&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">Page 7
    of 12</font></p>
  <hr noshade color="Black" size="2">
  <p align="center">&nbsp;</p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">Exhibit 2:<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Subscription
    Receipt Agreement, entered into on March 19, 2004, among the Company, Computershare
    Trust Company of Canada (the &#147;Escrow Agent&#148;), National Bank Financial
    Inc. and Credit Suisse First Boston Canada Inc. </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">Exhibit 3:<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Letter
    Agreement dated March 10, 2004 among BCE Inc., Serge Godin, Andr&eacute; Imbeau,
    Jean Brassard, 9061-9354 Qu&eacute;bec Inc., 9058-0705 Qu&eacute;bec Inc.,
    9065-4476 Qu&eacute;bec Inc., 3727912 Canada Inc. and 9102-7003 Qu&eacute;bec
    Inc. in favour of National Bank Financial Inc. and Credit Suisse First Boston
    Canada Inc. </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">Exhibit 4:<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Agreement
    dated July 24, 2003 among BCE Inc., 3588513 Canada Inc. and CGI Group Inc.
    </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">Exhibit 5:<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Registration
    Rights Agreement dated as of July 1, 1998 among BCE Inc., Bell Canada and
    CGI Group Inc.</font></p>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">Page 8
    of 12</font></p>
  <hr noshade color="Black" size="2">
  <p align="center">&nbsp;</p>
  <p>&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><B>SIGNATURES
    </B></font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;After
    reasonable inquiry and to the best of our knowledge and belief, we certify
    that the information set forth in this statement is true, complete and correct.
    </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif"></font></p>
  <table width="75%" border="0">
    <tr>
      <td width="43%"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2" face="Arial, Helvetica, sans-serif">Dated:
        May 13, 2004</font><font size="2"></font></font></font></td>
      <td width="4%">&nbsp;</td>
      <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="1"></font></font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td colspan="2">&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2" face="Arial, Helvetica, sans-serif">BCE
        INC.</font><font size="2"></font></font></font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td colspan="2">&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td colspan="2">&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:</font></font></font>
      </td>
      <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Linda Caty</font></td>
    </tr>
    <tr valign="bottom">
      <td height="22">&nbsp; </td>
      <td>&nbsp;</td>
      <td width="7%" valign="top">&nbsp;</td>
      <td width="46%" valign="bottom"> <hr noshade color="Black" size="1"></td>
    </tr>
    <tr valign="top">
      <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">
        </font></font></font></td>
      <td>&nbsp;</td>
      <td><font face="Arial, Helvetica, sans-serif"><font size="1"></font></font></td>
      <td><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">Name:
        Linda Caty<br>
        Title: Corporate Secretary</font></font></td>
    </tr>
  </table>
  <br>
  <table width="75%" border="0">
    <tr>
      <td width="43%"><font face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
      <td width="4%">&nbsp;</td>
      <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">3787877
        CANADA INC. </font><font size="1"></font></font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td colspan="2">&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td colspan="2">&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
      <td>&nbsp;</td>
      <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:</font></font></font>
      </td>
      <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Linda Caty</font></td>
    </tr>
    <tr valign="bottom">
      <td height="22">&nbsp; </td>
      <td>&nbsp;</td>
      <td width="7%" valign="top">&nbsp;</td>
      <td width="46%" valign="bottom"> <hr noshade color="Black" size="1"></td>
    </tr>
    <tr valign="top">
      <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">
        </font></font></font></td>
      <td>&nbsp;</td>
      <td><font face="Arial, Helvetica, sans-serif"><font size="1"></font></font></td>
      <td><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">Name:
        Linda Caty</font></font><br>
        <font size="2" face="Arial, Helvetica, sans-serif">Title: Secretary and
        Director </font></font></td>
    </tr>
  </table>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">Page 9
    of 12 </font></p>
  <hr noshade color="Black" size="2">
  <p align="center">&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">SCHEDULE
    A-1 </font></p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">EXECUTIVE
    OFFICERS AND DIRECTORS OF <br>
    BCE INC. </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">The following sets forth
    the name, business address, title and citizenship of the directors and principal
    executive officer of BCE Inc. The business address of BCE Inc. is 1000, rue
    de la Gaucheti&egrave;re Ouest, Bureau 3700, Montreal, Quebec, Canada H3B
    4Y7. </font></p>
  <table width="99%" border="0">
    <tr valign="bottom">
      <td width="25%"><strong><font size="1" face="Arial, Helvetica, sans-serif"><u>NAME</u></font></strong></td>
      <td width="3%">&nbsp;</td>
      <td width="40%"><strong><font size="1" face="Arial, Helvetica, sans-serif"><u>BUSINESS
        ADDRESS </u></font></strong></td>
      <td width="3%">&nbsp;</td>
      <td width="20%"><strong><font size="1" face="Arial, Helvetica, sans-serif"><u>TITLE</u></font></strong></td>
      <td width="3%">&nbsp;</td>
      <td width="10%"><strong><font size="1" face="Arial, Helvetica, sans-serif"><u>CITIZENSHIP</u></font></strong></td>
    </tr>
    <tr valign="top">
      <td width="25%">&nbsp; </td>
      <td width="3%">&nbsp;</td>
      <td width="40%">&nbsp; </td>
      <td width="3%">&nbsp;</td>
      <td width="20%">&nbsp; </td>
      <td width="3%">&nbsp;</td>
      <td width="10%">&nbsp; </td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Andre
          Berard</font></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">600,
          de la Gaucheti&egrave;re W.,27th Floor, <br>
          Montreal, Quebec, Canada H3B 4L2 </font></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="10%"> <font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="40%"> <div align="left"></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="20%"> <div align="left"></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="10%"> <div align="left"></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Ronald
          A. Brenneman</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">150
          &#150; 6th Avenue S.W., P.O. Box 2844, <br>
          Calgary, Alberta, Canada T2P 3E3</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Richard
          J. Currie</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">483
          Bay Street, 7th Floor, North Tower, <br>
          Toronto, Ontario, Canada M5G 2C9 </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Chairman
          of the <br>
          board of directors </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Anthony
          S. Fell</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">200
          Bay Street, 3rd Floor, South Tower, <br>
          Toronto, Ontario, Canada M5J 2W7</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Donna
          Soble Kaufman</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          2 St. Clair Avenue East, Suite 800, <br>
          Toronto, Ontario, Canada M4T 2T5 </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director
          </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%" height="1"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%" height="1"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%" height="1"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%" height="1"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%" height="1"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%" height="1"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%" height="1"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Thomas
          E. Kierans</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          100 Richmond Street West, Suite 331, <br>
          Toronto, Ontario, Canada M5H 3K6 </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Brian
          M. Levitt</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          1000, de la Gaucheti&egrave;re W., 21st Floor, <br>
          Montreal, Quebec, Canada H3B 4W5 </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">The
          Honourable Edward C. <br>
          Lumley </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">1
          First Canadian Place, 4th Floor, P.O. Box 150<br>
          Toronto, Ontario, Canada M5X 1H3 </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Judith
          Maxwell </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">600
          &#150; 250 Albert Street <br>
          Ottawa, Ontario, Canada K1P 6M1 </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">John
          H. McArthur </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Fowler
          House, Room 31, Soldiers Field, <br>
          Boston, Massachusetts USA 02163 </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Thomas
          C. O&#146;Neill</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          33 Geraldine Court <br>
          Don Mills, Ontario, Canada M3A 1N2 </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Robert
          C. Pozen</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          Harvard Law School <br>
          1525 Massachusetts Avenue<br>
          Griswold 304 <br>
          Massachusetts USA 02138 </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">American</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Michael
          J. Sabia </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">1000,
          de la Gaucheti&egrave;re W., 37th Floor, <br>
          Montreal, Quebec, Canada H3B 4Y7 </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">President,
          CEO and Director </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Paul
          M. Tellier </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">800
          Ren&eacute;-L&eacute;vesque Blvd. W., 29th Floor,<br>
          Montreal, Quebec, Canada H3B 1Y8 </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Victor
          L. Young</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          9 Primrose Place </font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Director</font></div></td>
      <td width="3%"> <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%"> <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
  </table>
  <p align="center">&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">Page 10
    of 12 </font></p>
  <hr noshade color="Black" size="2">
  <p align="center">&nbsp;</p>
  <p><font size="2" face="Arial, Helvetica, sans-serif"> </font></p>
  <table width="99%" border="0">
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">St.
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      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
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      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">William
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      <td width="3%">
        <div align="left"><font size="1"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">1000,
          de la Gaucheti&egrave;re W., 12th Floor,<br>
          Montreal, Quebec, Canada H3B 4Y7 </font></div></td>
      <td width="3%">
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      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">President,
          BCE Ventures &nbsp;&nbsp;</font></div></td>
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        <div align="left"><font size="1"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
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      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Alain
          Bilodeau</font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          1000, de la Gaucheti&egrave;re W., 4th Floor, <br>
          Montreal, Quebec, Canada H3B 4Y7 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Senior
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      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
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        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Michael
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      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">1000,
          de la Gaucheti&egrave;re W., 37th Floor, <br>
          Montreal, Quebec, Canada H3B 4Y7 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Senior
          Vice-President and Treasurer </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Linda
          Caty</font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          1000, de la Gaucheti&egrave;re Ouest, 41st Floor, <br>
          Montreal, Quebec, Canada H3B 5H8 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Corporate
          Secretary </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Francis
          P. Crispino</font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          1000, de la Gaucheti&egrave;re W., 37th Floor, <br>
          Montreal, Quebec, Canada H3B 4Y7 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Executive
          Vice- President and Chief Strategy Officer </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Peter
          Daniel</font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          1000, de la Gaucheti&egrave;re W., 37th Floor, <br>
          Montreal, Quebec, Canada H3B 4Y7 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Executive
          Vice- President &#150; Communications and Marketing Services </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Lib
          Gibson </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">483
          Bay Street, Floor 6-N <br>
          Toronto, Ontario, Canada M5G 2C9 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Corporate
          Advisor </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Leo
          W. Houle </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">1000,
          de la Gaucheti&egrave;re W., 37th Floor,<br>
          Montreal, Quebec, Canada H3B 4Y7</font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          Chief Talent Officer </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Lawson
          A.W. Hunter</font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          1000, de la Gaucheti&egrave;re W., 37th Floor,<br>
          Montreal, Quebec, Canada H3B 4Y7 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Executive
          Vice- President &#150; BCE and Bell </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Barry
          W. Pickford</font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          1000, de la Gaucheti&egrave;re W., 37th Floor,<br>
          Montreal, Quebec, Canada H3B 4Y7 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Senior
          Vice-President &#150; Taxation </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Stephen
          P. Skinner </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">1000,
          de la Gaucheti&egrave;re W., 7th Floor, <br>
          Montreal, Quebec, Canada H3B 4Y7</font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          Senior Vice-President &#150; Finance </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Martine
          Turcotte</font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          1000, de la Gaucheti&egrave;re W., 37th Floor, <br>
          Montreal, Quebec, Canada H3B 4Y7 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Chief
          Legal Officer </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Siim
          A. Vanaselja</font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          1000, de la Gaucheti&egrave;re W., 37th Floor,<br>
          Montreal, Quebec, Canada H3B 4Y7 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Chief
          Financial Officer </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Stephen
          G. Wetmore</font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">
          483 Bay Street, Floor 6-N <br>
          Toronto, Ontario, Canada M5G 2C9 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Executive
          Vice- President </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Mahes
          S. Wickramasinghe </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="40%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">483
          Bay Street, Floor 6-N <br>
          Toronto, Ontario, Canada M5G 2C9 </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="20%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Senior
          Vice-President &#150; Audit and Risk Management </font></div></td>
      <td width="3%">
        <div align="left"><font size="1"><font face="Arial, Helvetica, sans-serif"></font></font></div></td>
      <td width="10%">
        <div align="left"><font size="1" face="Arial, Helvetica, sans-serif">Canadian</font></div></td>
    </tr>
  </table>
  <p>&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">Page 11
    of 12 </font><font size="2" face="Arial, Helvetica, sans-serif"> <font size="1">
    </font></font></p>
  <hr noshade color="Black" size="2">
  <p>&nbsp;</p>
  <p><font size="2" face="Arial, Helvetica, sans-serif"> </font></p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">SCHEDULE
    A-2 </font></p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">EXECUTIVE
    OFFICERS AND DIRECTORS OF <br>
    3787877 CANADA INC. </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">The following sets forth
    the name, business address, title and citizenship of the directors and executive
    officers of 3787877 Canada Inc. The business address of 3787877 Canada Inc.
    is 1000, rue de la Gaucheti&egrave;re Ouest, Bureau 4100, Montreal, Quebec,
    Canada H3B 5H8.</font></p>
  <table width="99%" border="0">
    <tr valign="bottom">
      <td width="25%"><strong><font size="1" face="Arial, Helvetica, sans-serif"><u>NAME</u></font></strong></td>
      <td width="3%">&nbsp;</td>
      <td width="40%"><strong><font size="1" face="Arial, Helvetica, sans-serif"><u>BUSINESS
        ADDRESS </u></font></strong></td>
      <td width="3%">&nbsp;</td>
      <td width="20%"><strong><font size="1" face="Arial, Helvetica, sans-serif"><u>TITLE</u></font></strong></td>
      <td width="3%">&nbsp;</td>
      <td width="10%"><strong><font size="1" face="Arial, Helvetica, sans-serif"><u>CITIZENSHIP</u></font></strong></td>
    </tr>
    <tr valign="top">
      <td width="25%">&nbsp; </td>
      <td width="3%">&nbsp;</td>
      <td width="40%">&nbsp; </td>
      <td width="3%">&nbsp;</td>
      <td width="20%">&nbsp; </td>
      <td width="3%">&nbsp;</td>
      <td width="10%">&nbsp; </td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">Martine
          Turcotte</font></font></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="40%"> <div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">1000,
          rue de la Gaucheti&egrave;re Ouest, Bureau 3700, <br>
          Montreal, Quebec, Canada H3B 4Y7 </font></font></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="20%"> <div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">President
          and Director </font></font></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="10%"> <div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">Canadian</font></font></div></td>
    </tr>
    <tr valign="top">
      <td width="25%"> <div align="left"></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="40%"> <div align="left"></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="20%"> <div align="left"></div></td>
      <td width="3%"> <div align="left"></div></td>
      <td width="10%"> <div align="left"></div></td>
    </tr>
    <tr valign="top">
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">Linda
          Caty</font></font></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">
          1000, rue de la Gaucheti&egrave;re Ouest, Bureau 4100,<br>
          Montreal, Quebec, Canada H3B 5H8 </font></font></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">Secretary
          and Director </font></font></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">Canadian</font></font></div></td>
    </tr>
    <tr valign="top">
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
    </tr>
    <tr valign="top">
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">Michael
          T. Boychuk</font></font></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">
          1000, rue de la Gaucheti&egrave;re Ouest, Bureau 3700, <br>
          Montreal, Quebec, Canada H3B 4Y7 </font></font></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">Treasurer</font></font></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">Canadian</font></font></div></td>
    </tr>
    <tr valign="top">
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"></div></td>
    </tr>
    <tr valign="top">
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">Barry
          W. Pickford</font></font></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">
          1000, rue de la Gaucheti&egrave;re Ouest, Bureau 3700, <br>
          Montreal, Quebec, Canada H3B 4Y7 </font></font></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">Assistant
          Treasurer </font></font></div></td>
      <td><div align="left"></div></td>
      <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><font size="1">Canadian</font></font></div></td>
    </tr>
  </table>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">Page 12
    of 12 </font></p>
  <hr noshade color="Black" size="2">
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif"> </font></p>
  </div>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EXHIBIT 1
<TEXT>

<html>
<head>
<title>Untitled Document</title>

</head>

<body>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">EXHIBIT 1</font></p>
<p align="center">&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">JOINT FILING
  AGREEMENT</font></p>
<p align="justify"><font size="2" face="Arial, Helvetica, sans-serif"> &nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>&nbsp;&nbsp;&nbsp;&nbsp;The
  undersigned hereby agree that this Statement on Schedule 13D with respect to
  the Class A Subordinate Shares of CGI Group Inc. of even date herewith is, and
  any amendments thereto signed by each of the undersigned shall be, filed on
  behalf of each of the undersigned pursuant to and in accordance with the provisions
  of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. </font></p>
<table width="75%" border="0">
  <tr>
    <td width="43%"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2" face="Arial, Helvetica, sans-serif">Dated:
      May 13, 2004</font><font size="2"></font></font></font></td>
    <td width="4%">&nbsp;</td>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2" face="Arial, Helvetica, sans-serif">BCE
      INC.</font><font size="2"></font></font></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td height="22">&nbsp; </td>
    <td>&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:</font></font></font>
    </td>
    <td width="46%" valign="bottom"><font size="2" face="Arial, Helvetica, sans-serif">(signed)
      Linda Caty</font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><hr noshade color="Black" size="1"></td>
  </tr>
  <tr valign="top">
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">
      </font></font></font></font></td>
    <td>&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">Title:</font></font></font></font></td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">Corporate
      Secretary</font></font><font size="2"> </font></font></font></td>
  </tr>
</table>
<br>
<table width="75%" border="0">
  <tr>
    <td width="43%"><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">Dated:
      May 13, 2004</font><font size="1"></font></font></td>
    <td width="4%">&nbsp;</td>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">3787877
      CANADA INC. </font><font size="1"></font></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td height="22">&nbsp; </td>
    <td>&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:</font></font></font>
    </td>
    <td width="46%" valign="bottom"><font size="2" face="Arial, Helvetica, sans-serif">(signed) Linda Caty</font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><hr noshade color="Black" size="1"></td>
  </tr>
  <tr valign="top">
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">
      </font></font></font></td>
    <td>&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">Title:
      </font><font size="1"></font></font></td>
    <td> <font size="2" face="Arial, Helvetica, sans-serif">Secretary and Director</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<p></p>
</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2
<SEQUENCE>3
<FILENAME>exhibit2.htm
<DESCRIPTION>EXHIBIT 2
<TEXT>
<p align="center">&nbsp;</p>
<p align="right"><font size="5" face="Arial, Helvetica, sans-serif"><strong>EXHIBIT
  2</strong></font></p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="center"><font size="6"><strong><font face="Arial, Helvetica, sans-serif">SUBSCRIPTION</font></strong></font></p>
<p align="center"><strong><font size="6" face="Arial, Helvetica, sans-serif">RECEIPT</font></strong></p>
<p align="center"><strong><font size="6" face="Arial, Helvetica, sans-serif">AGREEMENT</font></strong></p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<HR color=gray noShade SIZE=3>
<p>&nbsp;</p><p align="center">&nbsp;</p>
<p align="center"><font face="Arial, Helvetica, sans-serif"><strong>CGI GROUP
  INC.</strong></font></p>
<p align="center"><strong><font face="Arial, Helvetica, sans-serif">- and - </font></strong></p>
<p align="center"><strong><font face="Arial, Helvetica, sans-serif">NATIONAL BANK
  FINANCIAL INC. </font></strong></p>
<p align="center"><strong><font face="Arial, Helvetica, sans-serif">- and - </font></strong></p>
<p align="center"><strong><font face="Arial, Helvetica, sans-serif">CREDIT SUISSE
  FIRST BOSTON CANADA INC. </font></strong></p>
<p align="center"><strong><font face="Arial, Helvetica, sans-serif">- and - </font></strong></p>
<p align="center"><strong><font face="Arial, Helvetica, sans-serif">COMPUTERSHARE
  TRUST COMPANY OF CANADA </font></strong></p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center"><strong><font face="Arial, Helvetica, sans-serif">SUBSCRIPTION
  RECEIPT AGREEMENT </font></strong></p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center"><strong><font face="Arial, Helvetica, sans-serif">Providing
  for the Issue of<br>
  Subscription Receipts </font></strong></p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center"><strong><font face="Arial, Helvetica, sans-serif">Dated March
  19, 2004 </font></strong></p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p align="center"><font face="Arial, Helvetica, sans-serif">TABLE OF CONTENTS</font></p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">ARTICLE
      1 INTERPRETATION</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">2
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">1.1</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Definitions</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">2
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">1.2</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Headings</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">5
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">1.3 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">References</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">5
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">1.4 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Certain
      Rules of Interpretation</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">5
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">1.5 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Day Not
      a Business Day</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">6
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">1.6</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Conflict</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">6
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">1.7</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Currency</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">6
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">1.8</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Severability</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">6
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">ARTICLE
      2 THE SUBSCRIPTION RECEIPTS</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">6
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.1</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Creation
      and Issue of Subscription Receipts</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">6
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.2</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Payment
      Acknowledgement</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">6
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.3</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Register
      for Subscription Receipts</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">7
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.4</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Form and
      Terms of Subscription Receipts</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">7
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.5</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Subscription
      Receipt holder not a Shareholder </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">8
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.6</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Subscription
      Receipts to Rank <em>Pari Passu</em> </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">8
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.7</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Signing
      of Subscription Receipt Certificates </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">8
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.8 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Certification
      by the Escrow Agent </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">9
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.9</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Issue
      in Substitution for Subscription Receipt Certificates Lost, etc.</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">9
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.10</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Exchange
      of Subscription Receipt Certificates </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">10
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.11</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Charges
      for Exchange </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">10
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.12</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Transfer
      and Ownership of Subscription Receipts </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">10
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.13</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Legends
      </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">11
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.14</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Transfers
      </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">13
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.15</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Reliance
      by the Escrow Agent </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">13
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">2.16</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Application
      For Additional Listing of Class A Shares </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">13
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">ARTICLE
      3 THE ESCROW AGENT</font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">14
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">3.1 </font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Appointment of Escrow
      Agent </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">14</font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">3.2 </font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Termination of Appointment
      or Resignation</font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">14
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">3.3</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Notice of Change of
      Escrow Agent </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">15
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">3.4 </font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Consequences of Change
      of Escrow Agent</font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">15
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">3.5</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Remuneration of Escrow
      Agent </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">15
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">3.6</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Duties of the Escrow
      Agent </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">16
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">3.7</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Indemnification of
      and Other Provisions Relating to the Escrow Agent </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">16
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">3.8</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Evidence, Experts
      and Advisers </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">19
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">3.9</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Actions by Escrow
      Agent to Protect Interest </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">20
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">3.10 </font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Escrow Agent Not Required
      to Give Security </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">20</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center">- ii - </p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">3.11</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Administration
      of Property of Others </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">21</font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">ARTICLE
      4 INVESTMENT OF PROCEEDS AND PAYMENT OF INTEREST</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">21</font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">4.1</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Escrowed
      Subscription Funds to be Placed in Escrow </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">21
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">4.2</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Investment
      of Escrowed Subscription Funds </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">21</font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">4.3</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Segregation
      of Escrowed Subscription Funds and Earned Interest </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">22</font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">4.4 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">No Liability
      </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">22</font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">ARTICLE
      5 RELEASE OF PROPERTY AND PURCHASE OF SHARES </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">22</font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">5.1</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Delivery
      of Escrow Release Notice </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">22</font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">5.2</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Automatic
      Exchange Release of Funds </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">23
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">ARTICLE
      6 TERMINATION </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">24
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">6.1</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Termination
      if the Escrow Release Condition is Not Satisfied </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">24
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">6.2</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Termination
      of this Agreement </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">25</font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">ARTICLE
      7 COVENANTS OF CGI </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">25
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">7.1 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">No Reorganization/Distributions</font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">25
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">7.2</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> General
      Covenants </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">25</font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">7.3</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Securities
      Law Matters </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">26</font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">ARTICLE
      8 MEETINGS OF RECEIPTHOLDERS </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">26
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="5%"><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">8.1 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Right to
      Convene Meeting </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">26
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">8.2</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Notice
      of Meetings </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">27
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">8.3 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Chair </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">27</font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.4 </font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Quorum </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">27</font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.5</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Power to Adjourn </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">27
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.6</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Show of Hands </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">28
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.7 </font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Poll </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">28
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.8</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Voting </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">28
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.9</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Regulations </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">28</font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.10</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Persons Entitled to
      Attend Meetings </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">29
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.11</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Powers Exercisable
      by Extraordinary Resolution </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">29
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.12</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Meaning of &#147;Extraordinary
      Resolution&#148; </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">30
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.13</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Powers Cumulative
      </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">31</font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.14</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Minutes </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">31
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.15</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Instruments in Writing
      </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">31
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.16 </font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Binding Effect of Resolutions
      </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">31
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.17</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Evidence of Rights
      of Receiptholders </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">32
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.18</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Holdings by CGI Disregarded
      </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">32
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">8.19</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> Suits by Receiptholders
      </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">32
        </font></div></td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="right"><font face="Arial, Helvetica, sans-serif"><font size="2"></font></font></div></td>
  </tr>
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">ARTICLE
      9 MISCELLANEOUS </font></td>
    <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">33</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p align="center">- iii -</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">9.1 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Notices
      </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">33
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">9.2</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Notice
      to Receiptholders </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">35
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">9.3 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Power to
      Amend </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">35
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">9.4</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Compliance
      with Laws and Regulations </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">36
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">9.5 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Waiver
      </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">36
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">9.6 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Further
      Assurances </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">36
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">9.7</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Assignment,
      Successors and Assigns </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">36
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">9.8 </font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Governing
      Law </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">36
        </font></div></td>
  </tr>
  <tr>
    <td width="20%"><font size="2" face="Arial, Helvetica, sans-serif">9.9</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif"> Counterparts
      </font></td>
    <td width="5%"><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">37</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Arial, Helvetica, sans-serif"><u><strong>SUBSCRIPTION
  RECEIPT AGREEMENT </strong></u></font></p>
<p><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>THIS
  SUBSCRIPTION RECEIPT AGREEMENT</strong> made as of the 19th day of March, 2004.
  </font></p>
<p><font size="2" face="Arial, Helvetica, sans-serif"><strong>B E T W E E N:</strong>
  </font></p>
<div align="justify">
  <table width="99%" border="0">
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><strong>CGI
          GROUP INC.</strong>,<strong> </strong><br>
          a company incorporated under to the laws of <FONT size="2" FACE="Arial, Helvetica, sans-serif">Qu&eacute;bec</FONT></font></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">(hereinafter
          referred to as &#147;<strong>CGI</strong>&#148; or the &#147;<strong>COMPANY</strong>&#148;)
          </font></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&#150;</font><font size="2" face="Arial &#150; Helvetica, sans-serif">
          and </font><font size="2" face="Arial, Helvetica, sans-serif">&#150;</font></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><strong>NATIONAL
          BANK FINANCIAL INC. and CREDIT SUISSE FIRST BOSTON CANADA INC.</strong>,
          <br>
          the underwriters who are party to the Underwriting Agreement providing
          for the issue and sale to investors of the Subscription Receipts </font></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">(hereinafter
          referred to as the &#147;<strong>Underwriters</strong>&#148;)</font></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">
          &#150; and &#150;</font></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><strong>COMPUTERSHARE
          TRUST COMPANY OF CANADA</strong>,<br>
          a trust corporation existing under the laws of Canada </font></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"></div></td>
    </tr>
    <tr>
      <td width="15%">&nbsp;</td>
      <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">(hereinafter
          referred to as the &#147;<strong>Escrow Agent</strong>&#148;)</font></div></td>
    </tr>
  </table>
</div>
<p align="justify">&nbsp;</p>
<p align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>WHEREAS</strong>
  Subscription Receipts, each representing an agreement to acquire one Class A
  Share (as hereinafter defined) per Subscription Receipt for no additional consideration
  upon satisfaction of the Escrow Release Condition (as hereinafter defined) prior
  to the Termination Time (as hereinafter defined) will be created and issued
  pursuant to this Agreement; </font></p>
<p align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>AND
  WHEREAS</strong> under an underwriting agreement (the &#147;<strong></strong><strong>Underwriting
  Agreement</strong>&#148;) dated March 10, 2004 among CGI and the Underwriters
  (as hereinafter defined), the Underwriters have severally (<em>conjointement</em>),
  and not jointly and severally (<em>solidairement</em>), agreed to purchase 33,072,500
  of the total number of Subscription Receipts (as hereinafter defined) issuable
  hereunder; </font></p>
<p align="left"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>AND
  WHEREAS</strong> pursuant to a subscription agreement (the &#147;<strong></strong><em><strong>BCE
  Subscription Agreement</strong></em>&#148;) dated March 15, 2004 between CGI
  and BCE Inc., or a subsidiary thereof (&#147;<strong></strong><strong>BCE</strong>&#148;),
  BCE has agreed to purchase 8,268,125 of the total number of Subscription Receipts
  issuable hereunder; </font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">- 2 -</font></p>
<p>&nbsp;</p>
<p align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>AND
  WHEREAS</strong> the Escrow Agent has agreed to act as registrar and transfer
  agent of the Subscription Receipts, escrow agent, custodian and nominee in respect
  of all monies to be held in escrow pursuant hereto and as agent on behalf of
  the holders of the Subscription Receipts and CGI, all on the terms and conditions
  set forth herein; </font></p>
<p align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>AND
  WHEREAS</strong> the foregoing recitals are by CGI and the Underwriters, as
  the context provides, and not by the Escrow Agent, as the context provides;
  </font></p>
<p align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>NOW
  THEREFORE THIS AGREEMENT WITNESSES</strong> that for good and valuable consideration
  mutually given and received, the receipt and sufficiency of which is hereby
  acknowledged, it is hereby agreed and declared as follows: </font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong>ARTICLE
  1<br>
  INTERPRETATION</strong></font></p>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">1.1</font></strong></td>
    <td width="85%"><div align="justify"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Definitions</u></font></strong></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">In
        this Agreement, including in the recitals, unless there is something in
        the subject matter or context inconsistent therewith or unless otherwise
        expressly provided, the following terms shall have the respective meanings
        set out below and grammatical variations of such terms shall have corresponding
        meanings:</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>1933
        Act</strong>&#148; means the United States Securities Act of 1933, as
        amended;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Acquisition</strong>&#148;
        means the acquisition, on the terms and conditions set forth in the Merger
        Agreement, by a subsidiary of the Company of at least the Minimum Number
        of AMS Shares; </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Agreement</strong>&#148;
        means this agreement and the Schedules hereto, as the same may be amended,
        supplemented or otherwise modified from time to time in accordance with
        the provisions hereof;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Acquisition
        Agreements</strong>&#148; means, collectively, the Merger Agreement and
        the DIG Sale Agreement;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>AMS</strong>&#148;
        means American Management Systems, Incorporated;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>AMS
        Shares</strong>&#148; means shares of common stock of AMS;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>BCE</strong>&#148;
        has the meaning given to that term in the Recitals to this Agreement;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>BCE
        Subscription Agreement</strong>&#148; has the meaning given to that term
        in the Recitals to this Agreement;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Business
        Day</strong>&#148; means a day which is not a Saturday or Sunday or statutory
        or civic holiday in the Cities of Montreal, Qu&#233;bec, Toronto, Ontario,
        or New York, New York, or a day when the principal offices of the Escrow
        Agent in such cities are not generally open to the public for the transaction
        of business;</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"> - 3 - </font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Canadian
        Securities Laws</strong>&#148; means all applicable securities laws in
        each Province of Canada in which the Subscription Receipts are being offered
        for sale and the respective regulations and rules under such laws together
        with applicable published instruments, policy statements of the Canadian
        Securities Regulators and the securities regulatory authorities in such
        Provinces and includes the rules, by-laws and requirements of the Toronto
        Stock Exchange;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Class
        A Shares</strong>&#148; means the Class A subordinate shares of CGI; </font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Closing</strong>&#148;
        means the closing of the purchase of Subscription Receipts by the Underwriters
        (or by the Purchasers, as such term is defined in the Underwriting Agreement)
        and by BCE from CGI;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Closing
        Date</strong>&#148; means the date hereof;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Delivery
        Date</strong>&#148; has the meaning given to that term in Subsection 5.2(d)
        hereof;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Deposit
        Account</strong>&#148; means an account maintained by the Escrow Agent
        for the purpose of depositing the Escrowed Subscription Funds pursuant
        to this Agreement;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Depository</strong>&#148;
        means Computershare Trust Company of New York in its capacity as the depository
        under the Tender Offer;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Designated
        Office</strong>&#148; means the principal office of the Escrow Agent from
        time to time in the City of Toronto, Ontario;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>DIG
        Business</strong>&#148; means AMS&#146;s Defence and Intelligence Group
        business that is to be sold pursuant to the DIG Sale Agreement; </font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>DIG
        Sale Agreement</strong>&#148; means the asset purchase agreement by and
        among CACI International, Inc., CACI, Inc. <I>&#150;</I> FEDERAL, Dagger
        Acquisition Corporation, AMS, the Company and CGI Virginia Corporation
        dated as of March 10, 2004;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Earned
        Interest</strong>&#148; means the interest or other income actually earned
        on the investment of the Escrowed Subscription Funds from the Closing
        Date to the date specified in Section 5.2 or Section 6.1, as applicable;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Effective
        Date</strong>&#148; means the date on which the Escrow Release Condition
        is satisfied;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Effective
        Time</strong>&#148; means 5:00 p.m. (Montreal Time) on the Effective Date;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Escrow
        Agent</strong>&#148; means Computershare Trust Company of Canada, in its
        capacity as the escrow agent, registrar and transfer agent, custodian
        and nominee hereunder;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Escrow
        Release Condition</strong>&#148; means receipt by the Escrow Agent of
        a completed Escrow Release Notice executed by the Chief Executive Officer
        and Chief Financial Officer of the Company and countersigned on behalf
        of the Underwriters;</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"> - 4 -</font></p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Escrow
        Release Notice</strong>&#148; means the notice in the form attached as
        <strong>Schedule </strong>&#147;<strong>A</strong>&#148; hereto;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Escrowed
        Subscription Funds</strong>&#148; means the aggregate gross proceeds from
        the sale of Subscription Receipts pursuant to the Underwriting Agreement
        and the BCE Subscription Agreement;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Escrowed
        Underwriters&#146; Fee</strong>&#148; means an amount equal to 3.31% of
        50% of the aggregate gross proceeds to the Company of the Subscription
        Receipts sold pursuant to the Underwriting Agreement, to be allocated
        from the Escrowed Subscription Funds and dealt with in accordance with
        Section 5.2 or Section 6.1, as applicable;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Exchange
        Right</strong>&#148; has the meaning given to that term in Subsection
        2.4(a)(i) hereof;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Extraordinary
        Resolution</strong>&#148; has the meaning given to that term in Section
        8.12 hereof;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Issue
        Price</strong>&#148; has the meaning given to that term in Section 2.1
        hereof;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Merger
        Agreement</strong>&#148; means the Agreement and Plan of Merger between
        CGI, CGI Virginia Corporation and AMS dated as of March 10, 2004;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Minimum
        Number of AMS Shares</strong>&#148; means that number of AMS Shares required
        to be tendered to the Tender Offer to meet the &#147;Minimum Condition&#148;
        (as defined in the Merger Agreement as at the date of execution thereof);
        </font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Minimum
      Take-up Notice</strong>&#148; has the meaning attributed thereto in Section
      5.1(a) hereof;</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Offering
        Jurisdictions</strong>&#148; means the United States and all the Provinces
        of Canada;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Receiptholders</strong>&#148;
        or &#147;<strong>holders of Subscription Receipts</strong>&#148; means
        the registered holders of Subscription Receipts;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Refund
        Date</strong>&#148; has the meaning given to that term in Subsection 6.1(a)(ii)
        hereof; </font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Refund
      Right</strong>&#148; has the meaning given to that term in Subsection 2.4(a)(ii)
      hereof;</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Senior
        Officer</strong>&#148; means any one of the President and Chief Executive
        Officer or an Executive Vice-President of CGI;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Share
        Certificate</strong>&#148; means a certificate evidencing one or more
        Class A Shares, duly signed by CGI and countersigned by CGI&#146;s registrar
        and transfer agent;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Subscription
        Receipt Certificate</strong>&#148; means a certificate evidencing Subscription
        Receipts substantially in the form attached hereto as <strong>Schedule
        </strong>&#147;<strong>B</strong>&#148;<strong> </strong>;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Subscription
        Receipts</strong>&#148; means the Subscription Receipts created and issued
        by CGI hereunder, each constituting an agreement whereby the holder thereof
        is obligated to acquire and CGI is, among other things, obligated to issue
        one Class A Share for no additional consideration at the Effective Time
        on the basis provided herein;</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"> &#150;
 5 &#150;
</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Tender
        Offer</strong>&#148; means CGI&#146; s offer made pursuant to and in accordance
        with the requirements of the Merger Agreement to acquire all of the issued
        and outstanding AMS Shares;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Termination
        Time</strong>&#148; means the earlier of (i) 5:00 p.m. (Montreal Time)
        on July 1, 2004, and (ii) the time the Merger Agreement terminates;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Underwriters</strong>&#148;
        means, collectively, National Bank Financial Inc. and Credit Suisse First
        Boston Canada Inc.;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>Underwriting
        Agreement</strong>&#148; has the meaning attributed thereto in the Recitals
        to this Agreement; </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>United
        States</strong>&#148; means the United States of America, its territories
        and possessions, any State of the United States and the District of Columbia;
        and</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<strong>U.S.
        Subscription Agreements</strong>&#148; means subscription agreements between
        CGI and initial purchasers of Subscription Receipts in the United States.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><strong>1.2</strong></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"> <u><strong>Headings</strong></u></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        headings, the table of contents and the division of this Agreement into
        Articles and Sections and Subsections are for convenience of reference
        only and shall not affect the interpretation of this Agreement.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">1.3</font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>References</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">Unless
      otherwise specified in this Agreement: </font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">references
        to Articles, Sections, Subsections and Schedules are to Articles, Sections,
        Subsections and Schedules in this Agreement; and</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;
hereto&#148;,
        &#147;
herein&#148;, &#147;
hereby&#148;, &#147;
hereunder&#148;, &#147;
hereof&#148; and similar expressions, without
        reference to a particular provision, refer to this Agreement.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><strong><font size="2" face="Arial, Helvetica, sans-serif">1.4</font></strong></td>
    <td colspan="2" valign="top"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Certain
      Rules of Interpretation</u> </font></strong></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">Unless
      otherwise specified in this Agreement: </font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">the singular includes
      the plural and vice versa;</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">references to any gender
      shall include references to all genders; and</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(c)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;person&#148;
        includes any individual, company, corporation, firm, partnership, trust,
        trustee, government, governmental body, agency, instrumentality, unincorporated
        body of persons or association.</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"> - 6 - </font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">1.5</font></strong></td>
    <td width="85%"><strong><font size="2" face="Arial, Helvetica, sans-serif">
      <u>Day Not a Business Day</u> </font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">In
        the event that any day on or before which any action is required to be
        taken hereunder is not a Business Day, then such action shall be required
        to be taken at or before the requisite time on the next succeeding day
        that is a Business Day. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">1.6</font></strong></td>
    <td width="85%"><strong><font size="2" face="Arial, Helvetica, sans-serif">
      <u>Conflict</u> </font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">In
        the event of a conflict or inconsistency between a provision in the body
        of this Agreement and any one or more of or any part of the Schedules
        that form a part hereof, the provision in the body of this Agreement shall
        prevail to the extent of the inconsistency. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">1.7</font></strong></td>
    <td width="85%"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Currency</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">All
        dollars amounts expressed in this Agreement and in the Schedules hereto,
        are in lawful money of Canada and all payments required to be made hereunder
        and thereunder shall be made in Canadian dollars. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">1.8</font></strong></td>
    <td width="85%"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Severability</u>
      </font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Each
        of the provisions in this Agreement is distinct and severable and a declaration
        of invalidity or unenforceability of any such provision or part thereof
        by a court of competent jurisdiction shall not affect the validity or
        enforceability of any of the other provisions hereof. </font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"> <strong>ARTICLE
  2<br>
  THE SUBSCRIPTION RECEIPTS</strong></font></p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.1</font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Creation
      and Issue of Subscription Receipts</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">A
        maximum of 41,340,625 Subscription Receipts are hereby created and authorized
        for issuance by CGI at a price of $8.00 (the <strong>&#147;Issue Price&#148;</strong>)
        per Subscription Receipt.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td><strong><font size="2" face="Arial, Helvetica, sans-serif">2.2</font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Payment
      Acknowledgement</u></font></strong></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td width="11%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td width="74%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Escrow Agent hereby acknowledges receipt by wire transfer from the Underwriters
        of the aggregate amount of $264,580,000 and confirms that such funds have
        been deposited in a segregated account in the name of the Escrow Agent
        designated as the &#147;CGI Group Inc. &#150; Sub. Receipts&#148; or as
        otherwise directed by CGI and the Underwriters and will be used, invested
        and segregated in accordance with Article 4 hereof.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Escrow Agent hereby acknowledges receipt by wire transfer from BCE in
        the aggregate amount of $66,145,000 and confirms that such funds have
        been deposited in the segregated account referred to in Subsection 2.2(a)
        and will be used, invested and segregated in accordance with Article 4
        hereof, as agent for the Receiptholders and CGI.</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp; </p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">- 7 -</font></p>
<p><font size="2" face="Arial, Helvetica, sans-serif"> </font></p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><font size="2" face="Arial, Helvetica, sans-serif">(c) </font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">CGI hereby:</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(i)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        acknowledges that the amounts received by the Escrow Agent pursuant to
        Subsection 2.2(a) in accordance with CGI&#146;s direction to the Underwriters,
        represents payment in full by the Underwriters of the subscription price
        for 33,072,500 Subscription Receipts; </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(ii)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        acknowledges that the amounts received by the Escrow Agent pursuant to
        Subsection 2.2(b) in accordance with CGI&#146;s direction to BCE represents
        payment in full by BCE of the subscription price for 8,268,125 Subscription
        Receipts; </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(iii)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        irrevocably directs the Escrow Agent to retain the amounts referred to
        in Subsections 2.2(a) and (b) in accordance with the terms of this Agreement
        pending payment of such amounts in accordance with the terms of this Agreement;
        and</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(iv)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        irrevocably directs the Escrow Agent, immediately following the execution
        and delivery of this Agreement, to certify and deliver to BCE the Subscription
        Receipt Certificate referred to in Subsection 2.4(b) to be delivered to
        BCE and to the Underwriters the Subscription Receipt Certificates referred
        to in Subsection 2.4(b) and Subsection 2.4(c) to be delivered to the Underwriters
        in accordance with the written direction of the Underwriters pursuant
        to Section 9 of the Underwriting Agreement.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(d)</font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        The Underwriters acknowledge receipt of the Subscription Receipt Certificates
        representing 33,072,500 Subscription Receipts registered as directed by
        the Underwriters pursuant to Section 9 of the Underwriting Agreement.
        </font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.3</font></strong></td>
    <td width="85%"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Register
      for Subscription Receipts</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">CGI
        hereby appoints the Escrow Agent as registrar and transfer agent of the
        Subscription Receipts, and CGI shall cause to be kept by the Escrow Agent
        at the Designated Office, a securities register in which shall be entered
        the names and addresses of holders of Subscription Receipts and the other
        particulars, prescribed by law, of the Subscription Receipts held by them.
        CGI shall also cause to be kept by the Escrow Agent at the Designated
        Office the register of transfers, and may also cause to be kept by the
        Escrow Agent, branch registers of transfers in which shall be recorded
        the particulars of the transfers of Subscription Receipts, registered
        in that branch register of transfers. </font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.4</font></strong></td>
    <td colspan="3"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Form
      and Terms of Subscription Receipts</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Each
        Subscription Receipt constitutes an agreement between CGI and the holder
        thereof pursuant to which:</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(i)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">the
        provisions of Article 5 hereof shall apply if the Escrow Release Condition
        is satisfied prior to the Termination Time (the rights of the</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"> - 8 -</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">holders
        of Subscription Receipts under Article 5 hereof being, collectively, the
        <strong>&#147;Exchange Right&#148;</strong>);</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(ii)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">the
        provisions of Article 6 hereof shall apply if the Escrow Release Condition
        is not satisfied prior to the Termination Time (the rights of the holders
        of Subscription Receipts under Article 6 hereof being, collectively, the
        &#147;<strong>Refund Right</strong>&#148;). </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        Upon receipt by the Escrow Agent of the Escrowed Subscription Funds, the
        Subscription Receipts shall be issued and the beneficial right, title
        and interest in and to, and ownership of, each Subscription Receipt will
        be represented by a Subscription Receipt Certificate issued to and registered
        as directed by the Underwriters pursuant to the Underwriting Agreement
        and to BCE pursuant to Sections 2.8, 2.13 and 2.14, as applicable.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(c)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        Subscription Receipts sold within the United States shall be represented
        by one or more Subscription Receipt Certificates issued and registered
        in accordance with the provisions of Sections 2.8, 2.13 and 2.14 hereof.
        </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(d)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        All Subscription Receipt Certificates (including replacements issued in
        accordance with this Agreement) shall be substantially in the form of
        <strong>Schedule </strong>&#147;<strong>B</strong>&#148; hereto and shall
        bear such distinguishing letters and numbers as CGI and the Escrow Agent
        may prescribe. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><font size="2" face="Arial, Helvetica, sans-serif">(e)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        No fractional Subscription Receipt shall be issued.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.5</font></strong></td>
    <td width="85%"><strong><font size="2" face="Arial, Helvetica, sans-serif">
      <u>Subscription Receipt holder not a Shareholder</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        A holder of a Subscription Receipt is not, by reason thereof, a shareholder
        of CGI and will have no beneficial ownership of Class A Shares prior to
        the Effective Time. Holders of Subscription Receipts are entitled only
        to exercise the rights and fulfil the obligations expressly provided for
        in this Agreement.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.6</font></strong></td>
    <td width="85%"><strong><font size="2" face="Arial, Helvetica, sans-serif">
      <u>Subscription Receipts to Rank <em>Pari Passu</em> </u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">All
        Subscription Receipts shall rank <em>pari passu</em>, whatever may be
        the actual date of issue of the Subscription Receipts. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.7
      </font></strong></td>
    <td width="85%"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Signing
      of Subscription Receipt Certificates</u> </font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Subscription Receipt Certificates shall be signed by a director or Senior
        Officer of CGI. The signature of such director or Senior Officer may be
        mechanically reproduced in facsimile and such facsimile signature shall
        be binding upon CGI as if the certificate had been manually signed by
        such director or Senior Officer.</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">- 9 -</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.8</font></strong></td>
    <td width="85%"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Certification
      by the Escrow Agent</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        No Subscription Receipt Certificate shall be issued or, if issued, shall
        be valid for any purpose or entitle the holder to the benefit hereof until
        it has been certified by manual signature by or on behalf of the Escrow
        Agent, and such certification by the Escrow Agent upon any Subscription
        Receipt Certificate shall be conclusive evidence as against CGI that the
        Subscription Receipt Certificate so certified has been duly issued hereunder
        and that the holder is entitled to the benefits hereof. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        certification of the Escrow Agent on any Subscription Receipt Certificate
        issued hereunder shall not be construed as a representation or warranty
        by the Escrow Agent as to the validity of this Agreement or the Subscription
        Receipt Certificate (except the due certification thereof) and the Escrow
        Agent shall in no respect be liable or answerable for the use made of
        any Subscription Receipt Certificate or any of them or of the consideration
        therefor except as otherwise specified herein. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.9</font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif">
      <u>Issue in Substitution for Subscription Receipt Certificates Lost, etc.</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">If
        any Subscription Receipt Certificate is mutilated, lost, destroyed or
        stolen, CGI, subject to applicable law, shall issue and thereupon the
        Escrow Agent shall certify and deliver, a new Subscription Receipt Certificate
        of like tenor as the one mutilated, lost, destroyed or stolen in exchange
        for and in place of and upon cancellation of such mutilated Subscription
        Receipt Certificate, or in lieu of and in substitution for such lost,
        destroyed or stolen Subscription Receipt Certificate, and the substituted
        Subscription Receipt Certificate shall be in a form approved by the Escrow
        Agent and shall be entitled to the benefits hereof and shall rank equally
        in accordance with its terms with all other Subscription Receipt Certificates
        issued or to be issued hereunder. When a new Subscription Receipt Certificate
        has been issued in substitution for a Subscription Receipt Certificate
        which has been mutilated, lost, stolen or destroyed, only one of such
        certificates shall be counted for the purpose of determining the number
        of Subscription Receipts outstanding.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        applicant for the issue of a new Subscription Receipt Certificate pursuant
        to this Section 2.9 shall bear the cost of the issue thereof and in case
        of loss, destruction or theft shall, as a condition precedent to the issue
        thereof, furnish to CGI and to the Escrow Agent such evidence of ownership
        and of the loss, destruction or theft of the Subscription Receipt Certificate
        so lost, destroyed or stolen as shall be satisfactory to CGI and to the
        Escrow Agent in their sole discretion, acting reasonably, and such applicant
        may also be required to furnish an indemnity or security in amount and
        form satisfactory to CGI and the Escrow Agent in their discretion and
        shall pay the reasonable charges of CGI and the Escrow Agent in connection
        therewith.</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">- 10 - </font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.10</font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif">
      <u>Exchange of Subscription Receipt Certificates</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Subscription
        Receipt Certificates representing Subscription Receipts may, upon compliance
        with the reasonable requirements of the Escrow Agent, be exchanged for
        another Subscription Receipt Certificate or Subscription Receipt Certificates
        entitling the holder to the same number of Subscription Receipts in the
        aggregate as represented by the Subscription Receipt Certificates so exchanged.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Subscription
        Receipt Certificates may be surrendered for exchange only at the Designated
        Office of the Escrow Agent or at any other place that is designated by
        CGI with the approval of the Escrow Agent.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.11
      </font></strong></td>
    <td width="85%"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Charges
      for Exchange</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Except
        as otherwise herein provided, the Escrow Agent may charge to the holder
        requesting an exchange a reasonable sum for each new Subscription Receipt
        Certificate issued in exchange for Subscription Receipt Certificate(s).
        Payment of such charges and reimbursement of the Escrow Agent or CGI for
        any and all stamp taxes or governmental or other charges required to be
        paid shall be made by such holder as a condition precedent to such exchange.
        </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.12</font></strong></td>
    <td colspan="3"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Transfer
      and Ownership of Subscription Receipts</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Subscription Receipts may only be transferred on the register kept at
        the Designated Office of the Escrow Agent by the holder or his legal representatives
        or his attorney duly appointed by an instrument in writing. Upon surrender
        for registration of transfer of Subscription Receipts at the Designated
        Office of the Escrow Agent, CGI shall issue and thereupon the Escrow Agent
        shall certify and deliver a new Subscription Receipt Certificate of like
        tenor in the name of the designated transferee. If less than all the Subscription
        Receipts evidenced by the Subscription Receipt Certificate(s) so surrendered
        are transferred, the transferor shall be entitled to receive, in the same
        manner, a new Subscription Receipt Certificate registered in his name
        evidencing the Subscription Receipts not transferred. However, notwithstanding
        the foregoing, registered title to Subscription Receipts shall only be
        transferred upon:</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(i)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">payment
        to the Escrow Agent of a reasonable sum for each new Subscription Receipt
        Certificate issued upon such transfer, and reimbursement of the Escrow
        Agent or CGI for any and all stamp taxes or governmental or other charges
        required to be paid in respect of such transfer;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(ii)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">with
        respect to transfers of securities that contain the legend in Section
        2.13(a), the receipt of the declaration or opinion of counsel, as the
        case may be, as required by Section 2.13(a) hereof;</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">- 11 -</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(iii)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">execution
        by the Receiptholder of the transfer form attached to the Subscription
        Receipt Certificate and surrender of the Subscription Receipt Certificate;
        and</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(iv)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">such
        reasonable requirements as the Escrow Agent may prescribe, and all such
        transfers shall be duly noted in such register by the Escrow Agent;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        CGI and the Escrow Agent will deem and treat the registered owner of any
        Subscription Receipt as the beneficial owner thereof for all purposes
        and neither CGI nor the Escrow Agent shall be affected by any notice to
        the contrary. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(c)
      </font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        transfer register in respect of Subscription Receipts shall be closed
        at the earlier to occur of the Effective Time and the Termination Time
        (subject to settlement). </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(d)
      </font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Subject
        to the provisions of this Agreement and applicable law, a holder of a
        Subscription Receipt shall be entitled to the rights and privileges attaching
        to the Subscription Receipts. Either the delivery of Class A Shares by
        the Escrow Agent in satisfaction of the rights in Article 5 or the return
        of the Escrowed Subscription Funds together with Earned Interest, if any
        (less any applicable withholding taxes) to but excluding the Refund Date
        as soon as practicable, all in accordance with the terms and conditions
        herein, shall discharge all responsibilities of CGI and the Escrow Agent
        with respect to such Subscription Receipts and neither CGI nor the Escrow
        Agent shall be bound to inquire into the title of a holder of a Subscription
        Receipt who surrenders a Subscription Receipt Certificate. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(e)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        If less than all Subscription Receipts evidenced by the Subscription Receipt
        Certificate(s) so surrendered are transferred, the transferor shall be
        entitled to receive, in the same manner, a new Subscription Receipt Certificate
        registered in its name evidencing the Subscription Receipts not transferred.
        </font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(f)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        Without limitation, signatures must be guaranteed by an authorized officer
        of a Canadian chartered bank (Schedule I) or of a major Canadian trust
        company or by a medallion signature guarantee from a member of a recognized
        Medallion Signature Guarantee Program.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(g)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        The Escrow Agent shall have no duty to determine compliance of the transferor
        or transferee of Subscription Receipts with applicable securities laws.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><strong><font size="2" face="Arial, Helvetica, sans-serif">2.13</font></strong></td>
    <td valign="top"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Legends</u>
      </font></strong></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><strong><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></strong></td>
    <td><strong><font size="2" face="Arial, Helvetica, sans-serif">Legend Pursuant
      To United States Securities Laws</font></strong></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Escrow Agent acknowledges that the Subscription Receipts and Class A Shares
        issuable in exchange therefor have not been registered under the 1933
        Act. Each Subscription Receipt originally issued in the United States
        and all certificates representing Class A Shares issued upon the exercise
        of such Subscription Receipt in accordance with Article 5 hereof (and
        each Subscription Receipt Certificate or Share</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">- 12 -</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">Certificate
      issued in exchange therefor or in substitution or transfer thereof) shall
      be overprinted with the following legend:</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;THE
        SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED
        STATES SECURITIES ACT OF 1933, AS AMENDED (THE &#147;U.S. SECURITIES ACT&#148;).
        THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES FOR THE BENEFIT
        OF THE COMPANY THAT SUCH SECURITIES MAY BE OFFERED, SOLD OR OTHERWISE
        TRANSFERRED ONLY (A) TO THE COMPANY, (B) OUTSIDE THE UNITED STATES IN
        ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT
        OR (C) WITHIN THE UNITED STATES IN ACCORDANCE WITH THE EXEMPTION FROM
        REGISTRATION UNDER THE U.S. SECURITIES ACT, PROVIDED BY RULE 144 THEREUNDER,
        IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE SECURITIES LAWS IN
        THE JURISDICTION IN WHICH SUCH SECURITIES ARE OFFERED, SOLD OR OTHERWISE
        TRANSFERRED. DELIVERY OF THIS CERTIFICATE MAY NOT CONSTITUTE GOOD DELIVERY
        IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES IN CANADA. PROVIDED THAT
        THE COMPANY IS A &#147;FOREIGN ISSUER&#148; WITHIN THE MEANING OF REGULATION
        S AT THE TIME OF SALE, A NEW CERTIFICATE BEARING NO LEGEND MAY BE OBTAINED
        FROM COMPUTERSHARE TRUST COMPANY OF CANADA UPON DELIVERY OF THIS CERTIFICATE
        AND A DULY EXECUTED DECLARATION, IN A FORM SATISFACTORY TO THE COMPANY
        TO THE EFFECT THAT SUCH SALE IS BEING MADE IN ACCORDANCE WITH RULE 904
        OF REGULATION S UNDER THE U.S. SECURITIES ACT.&#148;;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><u>provided</u>,
        that if Subscription Receipts or Class A Shares, as the case may be, are
        being sold outside the United States in accordance with Rule 904 of Regulation
        S under the 1933 Act, and provided that the Company is a &#147;foreign
        issuer&#148; within the meaning of Regulation S at the time of sale, any
        such legend may be removed by providing a declaration to the Computershare
        Trust Company of Canada, as registrar and transfer agent, to the effect
        set forth on Schedule &#147;D&#148; hereto (or as CGI may prescribe from
        time to time); and provided, further, that, if any such Subscription Receipts
        or Class A Shares, as the case may be, are being sold within the United
        States in accordance with the exemption from registration under the 1933
        Act provided by Rule 144 thereunder, if available, and in compliance with
        any applicable securities laws in the jurisdiction in which such securities
        are offered, sold or transferred, the legend may be removed by delivery
        to Computershare Trust Company of Canada and to the Company of an opinion
        of counsel, of recognized standing reasonably satisfactory to the Company,
        that such legend is no longer required under applicable requirements of
        the 1933 Act or state securities laws.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><strong><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></strong></td>
    <td width="75%"><strong><font size="2" face="Arial, Helvetica, sans-serif">Legend
      as per Canadian Securities Laws</font></strong></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Escrow Agent acknowledges that the Subscription Receipts and Class A Shares
        issuable in exchange therefor have not been qualified for sale by prospectus
        under Canadian Securities Laws. Each Subscription Receipt originally issued
        to a</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"> - 13 -</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Receiptholder,
        and all certificates representing Class A Shares issued upon the exercise
        of such Subscription Receipt in accordance with Article 5 hereof (and
        each Subscription Receipt Certificate or Share Certificate issued in exchange
        therefor or in substitution or transfer thereof) shall be overprinted
        with the following legend:</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;UNLESS
        PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THE SECURITIES SHALL
        NOT TRADE THE SECURITIES BEFORE JULY 20, 2004.&#148;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">2.14</font></strong></td>
    <td colspan="3"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Transfers</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">If
        a Subscription Receipt Certificate tendered for transfer bears the legend
        set forth in Section 2.13 hereof, the transfer restrictions set forth
        in such legend shall be complied with.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b) </font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Subscription Receipts may only be transferred in accordance with applicable
        laws and, upon compliance with the conditions herein, by the Receiptholder
        or its legal representative or its attorney duly appointed by an instrument
        in writing, in form and execution satisfactory to the Escrow Agent, upon
        compliance with such reasonable requirements as the Escrow Agent may prescribe,
        which may include, without limitation, the provision of a legal opinion
        to CGI and the Escrow Agent to the effect that the securities laws of
        the applicable jurisdiction(s) have been complied with in relation to
        the transfer of the Subscription Receipts. </font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td><strong><font size="2" face="Arial, Helvetica, sans-serif">2.15</font></strong></td>
    <td colspan="3"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Reliance
      by the Escrow Agent</u></font></strong></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Escrow Agent shall have no obligation to ensure or verify compliance with
        any applicable laws or regulatory requirements on the issue, exercise
        or transfer of any Subscription Receipts (or the Exchange Right comprising
        part thereof) or any Class A Shares issuable upon the exchange thereof
        provided such issue, exchange or transfer, as the case may be, is effected
        in accordance with the terms of this Agreement. The Escrow Agent shall
        be entitled to process all proffered transfers and exercises of Subscription
        Receipts on the presumption that such transfers or exercises are permissible
        pursuant to all applicable laws and regulatory requirements. The Escrow
        Agent may assume for the purposes of this Agreement that any address on
        the register of the Receiptholders is the holder&#146;s actual address
        and is also determinative as to residency and that the address of any
        transferee to whom any Subscription Receipts or Class A Shares are to
        be registered, as shown on the transfer document, is the transferee&#146;s
        residency. The Escrow Agent shall have no obligation to ensure that legends
        appearing on the Subscription Receipt Certificates or Class A Shares comply
        with regulatory requirements or securities laws of any applicable jurisdiction.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><strong>2.16</strong></font></td>
    <td colspan="3"><font size="2" face="Arial, Helvetica, sans-serif"><strong><u>Application
      For Additional Listing of Class A Shares</u></strong></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Subscription Receipts will not be listed on any stock exchange or quoted
        on any quotation system. CGI confirms that application has been made for
        the Class A Shares issuable on exchange of Subscription Receipts to be
        listed and posted for trading on the Toronto Stock Exchange and New York
        Stock Exchange and that approval for listing,</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">- 14 -</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">subject
        to the usual requirements, of such stock exchanges has been obtained.
        CGI shall use all reasonable efforts to satisfy all of the requirements
        in connection with such approvals as may be required for securing such
        additional listings.</font></div></td>
  </tr>
</table>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong>ARTICLE
  3<br>
  THE ESCROW AGENT</strong></font></p>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">3.1</font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Appointment
      of Escrow Agent</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">CGI
        and the Underwriters hereby appoint Computershare Trust Company of Canada
        as the Escrow Agent and Computershare Trust Company of Canada hereby accepts
        such appointment. </font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">3.2
      </font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Termination
      of Appointment or Resignation</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td width="85%" valign="top"> <div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Escrow Agent may resign and be discharged from all further duties and
        liabilities hereunder, subject to this Section 3.2, by providing CGI with
        not less than 10 Business Days notice in writing or such shorter notice
        as CGI may accept as sufficient. The holders of Subscription Receipts
        by Extraordinary Resolution shall have the power at any time to remove
        the existing Escrow Agent and to appoint a new escrow agent. In the event
        of the Escrow Agent resigning or being removed as aforesaid or being dissolved,
        becoming bankrupt, going into liquidation or otherwise becoming incapable
        of acting hereunder, the Underwriters, with CGI&#146;s consent, not to
        be unreasonably withheld, shall forthwith appoint a successor escrow agent;
        failing such an appointment, the retiring Escrow Agent (at the expense
        of CGI) may apply to a Judge of the Qu&eacute;bec Superior Court, on such
        notice as such Judge may direct, for the appointment of a successor escrow
        agent and shall pay into such Court all funds and/or other property that
        it has held until that time in escrow pursuant to the terms of this Agreement.
        Any new escrow agent so appointed by the Underwriters, with the consent
        of CGI, or by the Court shall be subject to removal as aforesaid by the
        holders of Subscription Receipts. Any new escrow agent appointed under
        any provision of this Section 3.2 shall be a corporation authorized to
        carry on the business of a trust company in the province of Qu&eacute;bec
        and, if required by applicable legislation for any other provinces, in
        such other provinces. At the request of CGI or of the successor escrow
        agent, the retiring Escrow Agent, upon payment of the amounts, if any,
        due to it pursuant to Section 3.5, shall duly assign, transfer and deliver
        to the successor escrow agent all property and money held and all records
        kept by the retiring Escrow Agent hereunder or in connection herewith.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">On
        any new appointment, the successor escrow agent shall be vested with the
        same powers, rights, duties and responsibilities as if it had been originally
        named herein as Escrow Agent without any further assurance, conveyance,
        act or deed, but there shall be immediately executed, at the expense of
        CGI, a written agreement executed by the successor escrow agent in which
        the successor escrow</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">- 15 -</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">agent
        shall undertake and agree in favour of the other parties to this Agreement
        to perform the respective obligations of the Escrow Agent hereunder.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(c)</font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        Any corporation into or with which the Escrow Agent may be merged or consolidated
        or amalgamated, or any corporation resulting therefrom to which the Escrow
        Agent shall be a party, or any corporation succeeding to the corporate
        trust business of the Escrow Agent shall be the successor to the Escrow
        Agent hereunder without any further act on its part or any of the parties
        hereto, provided that such corporation would be eligible for appointment
        as a successor escrow agent under Subsection 3.2(a). </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(d)</font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        Any Subscription Receipt Certificates certified but not delivered by a
        predecessor escrow agent may be delivered by the successor escrow agent
        in the name of the predecessor escrow agent. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">3.3
      </font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Notice
      of Change of Escrow Agent </u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Notice
        of any change of the Escrow Agent shall be given by the successor escrow
        agent to the Receiptholders and to the Underwriters at CGI&#146;s expense
        forthwith after the appointment of the successor escrow agent hereunder
        in accordance with Article 9.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td><strong><font size="2" face="Arial, Helvetica, sans-serif">3.4</font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Consequences
      of Change of Escrow Agent</u></font></strong></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">If
        the appointment of the Escrow Agent hereunder is terminated for whatever
        reason, the Escrow Agent shall, on the date on which such termination
        takes effect, and following payment of all outstanding fees and expenses,
        deliver to the successor escrow agent the register of holders of Subscription
        Receipts and all other books and records maintained by it pursuant to
        this Agreement, together with all other property held by it hereunder.
        As from the time of delivery of the register of holders of Subscription
        Receipts and other items referred to above, the successor escrow agent
        shall be substituted for its predecessors for all purposes hereof. Any
        expense payable as a result of the termination of such appointment shall
        be paid by CGI.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><strong><font size="2" face="Arial, Helvetica, sans-serif">3.5</font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Remuneration
      of Escrow Agent</u></font></strong></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">CGI
        covenants that it will pay to the Escrow Agent such remuneration for its
        services hereunder as is agreed to between CGI and the Escrow Agent and
        will pay or reimburse the Escrow Agent upon its request for all reasonable
        expenses, disbursements and advances incurred or made by the Escrow Agent
        in the administration or execution of the duties hereby created (including
        the reasonable compensation and the disbursements of its counsel and all
        other advisers and assistants not regularly in its employ reasonably acceptable
        to CGI) until all the duties of the Escrow Agent under this Agreement
        shall be finally and fully performed, except any such expense, disbursement
        or advance that may arise from its negligence, bad faith or wilful misconduct.
        Any amount due under this provision and unpaid 30 days after receipt by
        CGI of a written request for such payment shall bear interest from the
        expiration of such thirty 30 day period at a rate per annum equal to the
        then current rate generally charged by the Escrow Agent to like customers
        from time to time, payable on demand. After default, all amounts so payable
        and the</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"> - 16 -</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">interest
        thereon shall be payable out of any funds coming into the possession of
        the Escrow Agent or its successors in priority to any other payment that
        it may be obligated to make hereunder. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><strong><font size="2" face="Arial, Helvetica, sans-serif">3.6</font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Duties
      of the Escrow Agent</u></font></strong></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a) </font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Escrow Agent shall act as the agent, custodian and nominee of and for
        the benefit of CGI, the Underwriters and the holders of the Subscription
        Receipts with respect to all monies held by the Escrow Agent pursuant
        hereto, as their interests may appear from time to time, shall maintain
        a register of the holders from time to time of the Subscription Receipts
        and shall act as agent with respect to the Subscription Receipts for the
        benefit of Receiptholders.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">In
        the exercise of its rights and duties hereunder, the Escrow Agent shall
        exercise that degree of care, diligence and skill that a reasonably prudent
        escrow agent would exercise in comparable circumstances. No provision
        of this Agreement will be construed to relieve the Escrow Agent from liability
        for its own negligent action, its own negligent failure to act, or its
        own wilful misconduct or bad faith. The Escrow Agent hereby accepts and
        agrees to perform them on the terms and conditions set forth herein and
        represents and warrants that it is duly authorized and qualified to carry
        on the business of a trust company in all Provinces of Canada.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(c)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Escrow Agent shall retain the right not to act and shall not be liable
        for refusing to act if, due to a lack of information or for any other
        reason whatsoever, the Escrow Agent, in its sole judgment, determines
        that such act might cause it to be in non-compliance with any applicable
        anti-money laundering or anti-terrorist legislation, regulation or guideline.
        Further, should the Escrow Agent, in its sole judgment, determine at any
        time that its acting under this Agreement has resulted in its being in
        non-compliance with any applicable anti-money laundering or anti-terrorist
        legislation, regulation or guideline, then it shall have the right to
        resign on 10 Business Days written notice to the other parties to this
        Agreement, provided (i) that the Escrow Agent&#146;s written notice shall
        describe the circumstances of such non-compliance; and (ii) that if such
        circumstances are rectified to the Escrow Agent&#146;s satisfaction within
        such 10 Business Days period, then such resignation shall not be effective.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td><strong><font size="2" face="Arial, Helvetica, sans-serif">3.7</font></strong></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>Indemnification
      of and Other Provisions Relating to the Escrow Agent</u></font></strong></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Escrow Agent, its officers, directors and employees will at all times
        be indemnified and saved harmless by CGI from and against all claims,
        demands, losses, actions, causes of action, costs, charges, expenses,
        damages and liabilities whatsoever arising in connection with this Agreement
        including, without limitation, those arising out of or related to actions
        taken or omitted to be taken by the Escrow Agent contemplated hereby,
        legal fees and disbursements on a solicitor and client basis and costs
        and expenses incurred in connection with the enforcement of this indemnity,
        which they may suffer or incur, whether at law or </font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Arial, Helvetica, sans-serif"><font size="2">&#151;
  17 &#151;</font></font> </p>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">in
        equity, in any way caused by or arising, directly or indirectly, in respect
        of any act, deed, matter or thing whatsoever made, done, acquiesced in
        or omitted in or about or in relation to the execution of its duties as
        Escrow Agent and including any deed, matter or thing in relation to the
        registration, perfection, release or discharge of security. None of the
        provisions contained in this Agreement shall require the Escrow Agent
        to expend or to risk its own funds or otherwise to incur financial liability
        in the performance of any of its duties or in the exercise of any of its
        rights or powers unless indemnified as aforesaid. The foregoing provisions
        of this Section do not apply to the extent that in any circumstances there
        has been a failure by the Escrow Agent or its employees to act honestly
        and in good faith or where the Escrow Agent has acted negligently or in
        bad faith or with wilful misconduct. This indemnity shall be absolute
        and unconditional, regardless of the correctness of any representations
        of any third parties and regardless of any liability of third parties
        to the indemnified parties hereunder and shall accrue and become enforceable
        without prior demand or any other precedent action or proceeding and will
        survive the termination or discharge of this Agreement and the resignation
        or removal of the Escrow Agent.</font></font> </div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(b)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall not be liable for any error in judgment or for
        any act done or step taken or omitted by it in good faith or for any mistake,
        in fact or law, or for anything which it may do or refrain from doing
        in connection herewith except arising out of its own negligence, bad faith
        or wilful misconduct. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(c)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall have the right to consult with and obtain advice
        from legal counsel appointed by it, who may but need not be legal counsel
        for CGI, in the event of any question as to any of the provisions hereof
        or its duties hereunder and it shall incur no liability and it shall be
        fully protected in acting honestly and in good faith in accordance with
        any opinion or instruction of such counsel. The reasonable cost of such
        services shall be added to and be a part of the fees paid to the Escrow
        Agent by CGI pursuant to Section 3.5.</font></font> </div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(d)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall be protected in acting upon any written notice,
        request, waiver, consent, certificate, receipt, statutory declaration
        or other paper or document furnished to it, not only as to its due execution
        and the validity and the effectiveness of its provisions but also as to
        the truth and acceptability of any information therein contained which
        it in good faith believes to be genuine and what it purports to be.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(e)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        In the event that any of the funds provided to the Escrow Agent hereunder
        are received by it in the form of an uncertified cheque or cheques, the
        Escrow Agent shall be entitled to delay the time for release of such part
        of the funds so provided to it, as otherwise required hereunder, until
        such uncertified cheque or cheques have cleared the financial institution
        upon which the same is or are drawn. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(f)
      </font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        forwarding of a cheque or the sending of funds by wire transfer by the
        Escrow Agent will satisfy and discharge the liability for any amounts
        due to the extent of the sum or sums represented thereby (plus the amount
        of any tax</font></font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<font face="Arial, Helvetica, sans-serif"> </font>
<P ALIGN="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">&#151;
  18 &#151;</FONT></FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">deducted
        or withheld as required by law) unless such cheque is not honoured on
        presentation; provided that in the event of the non-receipt of such cheque
        by the payee, or the loss or destruction thereof, the Escrow Agent, upon
        being furnished with reasonable evidence of such non-receipt, loss or
        destruction and indemnity reasonably satisfactory to it, will issue to
        such payee a replacement cheque for the amount of such cheque.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(g)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall have the right not to act and shall not be held
        liable for refusing to act unless it has received clear and reasonable
        documentation which complies with the terms of this Agreement. Such documentation
        must not require the exercise of any discretion or independent judgment
        by the Escrow Agent. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(h)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        In the event of any dispute or disagreement arising regarding the terms
        of this Agreement, the Escrow Agent shall be entitled at its option to
        refuse to comply with any or all demands whatsoever until the dispute
        or disagreement is settled either by agreement of the parties hereto or
        by the Qu&eacute;bec Superior Court. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(i)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall disburse monies according to the provisions of
        this Agreement and all applicable legislation only to the extent that
        it is in possession of such monies. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(j)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The duties and obligations of the Escrow Agent shall be determined solely
        by the provisions hereof and, accordingly, the Escrow Agent shall not
        be responsible except for the performance of such duties and obligations
        as it has undertaken herein. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(k)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        In addition to the reports, certificates, opinions and other evidence
        required by this Agreement, CGI shall provide to the Escrow Agent such
        additional evidence of compliance with any provision hereof, and in such
        form, as may be prescribed by applicable legislation or as the Escrow
        Agent may reasonably require by written notice to CGI. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(l)</font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall not be liable for or by reason of any statements
        or recitals in this Agreement or in the Subscription Receipt Certificates
        (except the countersignature by the Escrow Agent of Subscription Receipt
        Certificates) or be required to verify any such statements or recitals,
        but all such statements or recitals are and shall be deemed to be made
        by CGI. </font></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(m)</font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        Nothing contained herein shall impose any obligation on the Escrow Agent
        to tend to or require evidence of the registration or filing (or renewal
        thereof) of this Agreement or any instrument ancillary or supplemental
        hereto.</font></font></div></td>
  </tr>
  <tr>
    <td height="21">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td height="21">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(n)</font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall not be bound to give notice to any person or persons
        of the execution hereof. </font></font></div></td>
  </tr>
  <tr>
    <td height="21">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td height="21">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(o)</font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall not incur any liability or responsibility whatever
        or be in any way responsible for the consequence of any breach by CGI
        of any of its</font></font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">&#151;
  19 &#151; </FONT></FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">covenants
        herein contained or of any acts of any directors, officers, employees
        or agents of CGI.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(p)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall not be accountable with respect to the validity
        or value (or the kind or amount) of any Class A Shares, or any other securities
        or property which may at any time be issued or transferred, as applicable,
        and delivered upon the exercise of the Exchange Right. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(q)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall not be responsible for any failure of CGI to make
        any payment or to issue, transfer or deliver the Class A Shares upon the
        exercise of the Exchange Right or the exercise of the Refund Right. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(r)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall incur no liability whatsoever with respect to the
        delivery or non-delivery of any certificate whether delivery by hand,
        mail or any other means. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(s)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall be entitled to rely absolutely on the Escrow Release
        Notice and shall be entitled to release the Escrowed Subscription Funds
        upon the receipt of the Escrow Release Notice as provided for in this
        Agreement.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(t)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall be under no obligation to prosecute or defend any
        action or suit in respect of its agency relationship under this Agreement,
        but will do so at the request of the Company provided that the Company
        furnishes indemnity satisfactory to the Escrow Agent against any liability,
        cost or expense which might be incurred.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(u)</font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent shall not be liable to the Company for any error in judgment
        or for any act done or step taken or omitted by it in good faith or for
        any mistake, of fact or law, or for anything which it may do or refrain
        from doing in connection herewith, such as relying upon or deferring to
        the instructions or decisions of the Company, its legal counsel, or the
        chairman of a meeting of Receiptholders with respect to such meetings,
        except in connection with any liability arising out of its bad faith,
        wilful misconduct or negligence. </font></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td><div align="justify"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(v)</font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        Notwithstanding the foregoing, the Escrow Agent shall not be liable for
        special, indirect, incidental or consequential loss or damage of any kind
        whatsoever, even if the Escrow Agent has been advised of such loss or
        damage, except to the extent that the Escrow Agent has acted in bad faith
        or engaged in wilful misconduct or negligence.</font></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font face="Arial, Helvetica, sans-serif"><font size="2"><b>3.8</b></font></font></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>Evidence, Experts and Advisers</u></b></font></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(a)</font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        In addition to the reports, certificates, opinions and other evidence
        required by this Agreement, the Company shall furnish to the Escrow Agent
        such additional evidence of compliance with any provision hereof, and
        in such form, as the Escrow Agent may reasonably require by written notice
        to the Company.</font></font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">&#151;
  20 &#151; </FONT></FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(b)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        In the exercise of its rights and duties hereunder, the Escrow Agent may,
        if it is acting in good faith, rely as to the truth of the statements
        and the accuracy of the opinions expressed in statutory declarations,
        opinions, reports, written requests, consents or orders of the Company,
        certificates of the Company or other evidence furnished to the Escrow
        Agent pursuant to any provision hereof or pursuant to a request of the
        Escrow Agent. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(c)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        Whenever it is provided in this Agreement that the Company shall deposit
        with the Escrow Agent resolutions, certificates, reports, opinions, requests,
        orders or other documents, it is intended that the truth and accuracy
        on the effective date thereof and the facts and opinions stated in all
        such documents so deposited shall, in each and every case, be conditions
        precedent to the right of the Company to have the Escrow Agent take the
        action to be based thereon.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(d)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        Proof of the execution of an instrument in writing, including a Receiptholders&#146;
        Request (as defined in Section 8.17), by any Receiptholder may be made
        by the certificate of a notary public, or other officer with similar powers,
        that the person signing such instrument acknowledged to him the execution
        thereof, or by an affidavit of a witness to such execution by it to be
        genuine and to have been signed, sent or presented by or on behalf of
        the proper party or parties.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(e)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent may employ or retain such counsel, accountants, appraisers
        or other experts or advisers as it may reasonably require for the purpose
        of discharging its duties hereunder and may pay reasonable remuneration
        for all services so performed by any of them, without taxation of costs
        of any counsel, all at the expense of the Company except for matters referred
        to internal departments of the Escrow Agent and shall not be responsible
        for any misconduct or negligence on the part of any such experts or advisers
        who have been appointed with due care by the Escrow Agent.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(f)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        The Escrow Agent may act and rely and shall be protected in acting or
        relying in good faith on the opinion or advice of or information obtained
        from counsel, or any accountant, appraiser, engineer or other expert or
        adviser, whether retained or employed by the Company or by the Escrow
        Agent with respect to any matter arising in relation to the Agreement.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>3.9</b></font></font></td>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>Actions by Escrow Agent to Protect Interest</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        Escrow Agent shall have power to institute and to maintain such actions
        and proceedings as it may consider necessary or expedient to preserve,
        protect or enforce its interests and the interests of the Receiptholders.
        <b></b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>3.10</b></font></font></td>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>Escrow Agent Not Required to Give Security</u> </b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        Escrow Agent shall not be required to give any bond or security in respect
        of the execution of this Agreement or otherwise in respect of the premises.</font></font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> &#151;
  21 &#151;</FONT></FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>3.11</b></font></font></td>
    <td width="85%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>Administration of Property of Others</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        parties agree that the Escrow Agent is not an administrator of property
        of others (within the meaning of the Civil Code of Qu&eacute;bec) hereunder
        and that the provisions contained in the Civil Code of Qu&eacute;bec regarding
        the administration of the property of others shall not apply to this Agreement.
        <b></b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>ARTICLE
        4</b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
        INVESTMENT OF PROCEEDS AND PAYMENT OF INTEREST</b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>4.1</b></font></font></td>
    <td width="85%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>Escrowed Subscription Funds to be Placed in Escrow</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">At
        the Closing, the Escrowed Subscription Funds shall be delivered to the
        Escrow Agent by wire transfer to be held and invested as provided herein.
        If the Escrow Release Condition is satisfied prior to the Termination
        Time, the Escrowed Subscription Funds, together with Earned Interest (other
        than Earned Interest on the Escrowed Underwriters&#146; Fee to be paid
        to the Underwriters pursuant to Section 8 of the Underwriting Agreement),
        will be released to CGI in accordance with Article 5. If the Escrow Release
        Condition is not satisfied prior to the Termination Time, each holder
        of Subscription Receipts shall be entitled to receive from the Escrowed
        Subscription Funds the Issue Price per Subscription Receipt held plus
        their <i>pro rata </i>entitlement to Earned Interest (less any applicable
        withholding taxes) in accordance with Article 6. Earned Interest shall
        be for the account of the person entitled to receipt of the same as determined
        in Article 5 or Article 6, as the case may be, and such person shall be
        responsible for the tax thereon. CGI represents to the Escrow Agent that
        any account to be opened by the Escrow Agent in connection with this Agreement,
        is not intended to be used by or on behalf of any person other than the
        parties hereto and the Receiptholders.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>4.2</b></font></font></td>
    <td width="85%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>Investment of Escrowed Subscription Funds</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Pending
        disbursement of the Escrowed Subscription Funds, the Escrow Agent shall
        hold, invest and reinvest such funds on behalf of the Receiptholders or
        CGI in short-term interest bearing or discount debt obligations issued
        or guaranteed by the Government of Canada or a province, or a Canadian
        chartered bank (which may include an affiliate or related party of the
        Escrow Agent), provided that such obligation is rated at least R1 (middle)
        by DBRS Inc. or an equivalent rating service, as directed in writing by
        CGI. Such direction to the Escrow Agent shall be provided by CGI no later
        than 9:00 a.m. (Montreal Time) on the day on which the investment is to
        be made. Any direction received by the Escrow Agent after 9:00 a.m. or
        on a day which is not a Business Day, shall be deemed to have been given
        prior to 9:00 a.m. on the next Business Day. If at any time the Escrowed
        Subscription Funds include cash that is not invested and CGI has not provided
        directions to the Escrow Agent to invest such cash, the Escrow Agent shall
        deposit all such uninvested cash in an account, a term deposit or guaranteed
        investment certificates of a Canadian chartered bank, having either no
        fixed term or no irrevocable term and which pays interest on the daily
        balance. For greater certainty, every security in which the Escrowed Funds
        are invested shall be a &#147;qualified investment&#148; for registered</font></font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>
  </B>&#151; 22 &#151; </FONT></FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2">retirement
      savings plans and other deferred plans for the purposes of the <i>Income
      Tax Act </i>(Canada).</font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>4.3</b></font></font></td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>Segregation of Escrowed Subscription Funds and Earned Interest </u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        Escrowed Subscription Funds received by the Escrow Agent and any securities
        or other instruments received by the Escrow Agent upon the investment
        or reinvestment of such Escrowed Subscription Funds, together with all
        Earned Interest, shall be received as agent for, and shall be segregated
        and kept apart by the Escrow Agent as agent for, the Receiptholders pursuant
        to Article 6 or CGI pursuant to Article 5.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>4.4</b></font></font></td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>No Liability</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        Escrow Agent shall have no liability with respect to any loss in value
        of investments as permitted to be made hereunder. In making any payment,
        the Escrow Agent shall not be liable for any loss sustained from early
        termination of an investment if such early termination is required to
        enable the Escrow Agent to make a payment.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>ARTICLE
        5</b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>RELEASE
        OF PROPERTY AND PURCHASE OF SHARES</b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>5.1
      </b></font></font></td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2"><b><u>Delivery
      of Escrow Release Notice</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2">If
      prior to the Termination Time:</font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(a)</font></font></td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">prior
        to the expiry of the Tender Offer, there has been validly deposited under
        the Tender Offer and not withdrawn at least the Minimum Number of AMS
        Shares, and CGI has issued to the Depository an irrevocable direction
        to take up and accept for payment all such deposited AMS Shares (the &#147;<b>Minimum
        Take-up Notice</b>&#148;);</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(b)</font></font></td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">the
        Merger Agreement is in full force and effect and unamended since the date
        of execution thereof save for amendments:</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(i)</font></font></td>
    <td width="65%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">which
        do not have the effect of increasing the net value of the consideration
        to be paid under the Acquisition by CGI or any of its subsidiaries by
        more than 5% pursuant to the Merger Agreement; </font><font face="Arial, Helvetica, sans-serif"><font size="2">or</font></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(ii)</font></font></td>
    <td width="65%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">which
        do not have the effect of reducing the value of the consideration to be
        paid for the DIG Business by more than 5% or do not affect the time of
        closing of the sale of the DIG Business pursuant to the DIG Sale Agreement;</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">or
        amendments which have the effect set out in (i) or (ii) above but which
        have received the prior written approval of the Underwriters;</font></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(c)
      </font></font></td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">neither
        CGI nor CGI Virginia Corporation has waived a condition of closing under
        the Merger Agreement pertaining to the absence of a Material Adverse</font></font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>
  </B> &#151; 23 &#151;</FONT></FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Effect
        (as defined in the Merger Agreement as at the date of execution thereof)
        without the prior written consent of the Underwriters; and </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(d)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        AMS and CACI International, Inc. have irrevocably agreed and are unconditionally
        obligated to complete the sale of the DIG Business pursuant to the DIG
        Sale Agreement at or prior to the delivery of the Minimum Take-up Notice
        to the Depository;</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">and
        if CGI delivers to the Underwriters the Escrow Release Notice executed
        by the Chief Executive Officer and the Chief Financial Officer of the
        Company together with a copy of the Minimum Take-up Notice, then the Underwriters
        shall forthwith acknowledge satisfaction of the Escrow Release Condition
        by countersigning the Escrow Release Notice, whereupon CGI shall (A) deliver
        such Escrow Release Notice together with the copy of the Minimum Take-Up
        Notice and a direction in the form attached hereto as Schedule &#147;C&#148;
        to the Escrow Agent and (B) forthwith disclose by press release the expected
        Effective Time in respect of the exchange of Class A Shares for Subscription
        Receipts and the date and time on which the Subscription Receipt transfer
        register will close.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>5.2</b></font></font></td>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>Automatic Exchange Release of Funds</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(a)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        If the Escrow Release Condition is satisfied prior to the Termination
        Time, each Receiptholder at the Effective Time, as such holder appears
        in the register of the Escrow Agent, will become the holder of Class A
        Shares on the basis of one Class A Share for each Subscription Receipt
        held without the payment of any consideration or the undertaking of any
        further action (including the surrender of any Subscription Receipt Certificates)
        by such Receiptholder. Each Subscription Receipt Certificate shall thereafter
        represent an entitlement to receive a certificate or certificates evidencing
        the Class A Shares issuable in respect of the Subscription Receipts formerly
        represented by each such Subscription Receipt Certificate held.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(b)
      </font></font></td>
    <td width="75%" valign="top"> <p align="justify"><font size="2" face="Arial, Helvetica, sans-serif">C</font><font face="Arial, Helvetica, sans-serif"><font size="2">onditional
        on the satisfaction of the Escrow Release Condition, CGI covenants in
        favour of the Escrow Agent, the Underwriters and the holders of the Subscription
        Receipts to pay all taxes exigible with respect to Earned Interest paid
        to CGI.</font></font></p></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(c)</font></font></td>
    <td width="75%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        Upon receipt of a facsimile copy of the Escrow Release Notice executed
        in the manner provided therein, the Escrow Agent shall forthwith on the
        date that it receives the Escrow Release Notice, release the Escrowed
        Subscription Funds together with the Earned Interest, by wire transfer
        to the accounts and in the amounts indicated in the Escrow Release Notice.
        The Escrow Release Notice shall specify all amounts to be released and
        the payees. Any Escrow Release Notice delivered shall be received by the
        Escrow Agent no later than 10:00 a.m. (Montreal Time) on the day on which
        the Escrowed Subscription Funds are to be released. Any such Escrow Release
        Notice received by the Escrow Agent after 10:00 a.m. (Montreal Time) or
        received on a non Business Day shall be deemed </font></font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">&#151;
  24 &#151;</FONT></FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">to
        have been given prior to 10:00 a.m. on the next Business Day. For greater
        certainty, nothing under this Agreement derogates from the Underwriters&#146;
        rights under Section 8 of the Underwriting Agreement with respect to the
        payment of underwriting fees.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%"><div align="justify"></div></td>
    <td width="65%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(d)</font></font></td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        Subject to Subsections 5.2(a) and 5.2(b), certificates representing the
        Class A Shares issued under Subsection 5.2(a) shall be issued by the Escrow
        Agent commencing the second Business Day after the Effective Date (the
        &#147;<b>Delivery Date</b>&#148;). </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="10%"><div align="justify"></div></td>
    <td width="65%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(e)</font></font></td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        Effective after the issuance of Class A Shares by CGI at the Effective
        Time as contemplated in Subsection 5.2(a), and after the Escrow Agent
        acting on CGI&#146;s behalf has mailed or delivered the certificate or
        certificates representing such Class A Shares, the Exchange Right shall
        have been satisfied in full and the Subscription Receipts relating thereto
        shall be void and of no value or effect. </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="10%"><div align="justify"></div></td>
    <td width="65%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(f)</font></font></td>
    <td colspan="2" valign="top">
<div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        For the purposes of this Agreement, all references to &#147;satisfaction
        of the Escrow Release Condition&#148;, the &#147;Escrow Release Condition
        being satisfied&#148;, or like phrases means both (i) receipt by the Escrow
        Agent of the Escrow Release Notice in the form and in the manner prescribed
        by Section 5.1 and <b>Schedule &#147;A&#148; </b>hereto; and (ii) the
        take-up by CGI in accordance with applicable United States securities
        laws of at least the Minimum Number of AMS Shares pursuant to the terms
        of the Tender Offer. <b></b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>ARTICLE
        6</b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>TERMINATION</b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>6.1</b></font></font></td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2"><b><u>Termination
      if the Escrow Release Condition is Not Satisfied</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(a)</font></font></td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">If
        the Escrow Release Condition is not satisfied on or before the Termination
        Time, notwithstanding any other provision hereof:</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(i)</font></font></td>
    <td width="65%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">CGI
        shall forthwith notify the Escrow Agent and the Underwriters thereof and
        shall issue a press release disclosing such fact and the expected date
        on which the Escrow Agent will commence returning to the Receiptholders
        the Escrowed Subscription Funds and Earned Interest (less any applicable
        withholding taxes);</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(ii)
      </font></font></td>
    <td width="65%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">the
        subscription evidenced by each Subscription Receipt shall be automatically
        terminated and cancelled at the Termination Time and each holder of Subscription
        Receipts shall be entitled after the Termination Time, but shall receive
        no earlier than the second Business Day following the Termination Time
        (the &#147;<b>Refund Date</b>&#148;), a cheque or wire transfer in the
        aggregate amount of (i) the Issue Price per Subscription Receipt held
        at the Termination Time plus (ii) the holder&#146;s <i>pro rata </i>entitlement
        to Earned Interest less any applicable withholding taxes. The amount paid
        to each holder under (i) and (ii) shall be satisfied by the Escrowed Funds;</font></font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> <B>
  </B> &#151; 25 &#151;</FONT></FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(iii)</font></font></td>
    <td width="65%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        the obligation to make the payment in Subsection 6.1(a)(ii) shall be satisfied
        by mailing payment by cheque payable to the holder of the Subscription
        Receipts at its registered address or, in the case of BCE, by wire transfer
        in accordance with written instructions from each such holder; and </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(iv)</font></font></td>
    <td width="65%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        the agreements constituted by the Subscription Receipts and the rights
        and obligations of CGI and of the holders of the Subscription Receipts
        in respect thereof shall, effective at the close of business on the Refund
        Date, terminate and be cancelled and be of no further force or effect.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(b)</font></font></td>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="2">
      The performance by the Escrow Agent of its obligations under this Section
      6.1 shall satisfy all of its obligations hereunder.</font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>6.2</b></font></font></td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>Termination of this Agreement</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2">Immediately
      following the completion of all of the actions required under this Agreement,
      this Agreement shall terminate.</font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>ARTICLE
        7</b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>COVENANTS
        OF CGI</b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>7.1
      </b></font></font></td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2"><b><u>No
      Reorganization/Distributions</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">CGI
        hereby covenants with the Escrow Agent and the Underwriters that from
        the Closing Date to the earlier of the Effective Time and the Termination
        Time, it shall not do any of the following, unless, in the case of any
        such action described below, an appropriate adjustment is made to the
        number of Class A Shares issuable on exchange of the Subscription Receipts,
        which action is taken with prior written consent of the Underwriters:
        (i) subdivide the outstanding Class A Shares into a greater number of
        shares; (ii) reduce, combine or consolidate the outstanding Class A Shares
        into a smaller number of shares; (iii) declare or pay, or fix a record
        date to declare or pay, any dividend or distribution in cash or in-kind
        to any or all holders of issued and outstanding Class A Shares; or (iv)
        reclassify the Class A Shares or undertake a reorganization of the Company
        or a consolidation, amalgamation, arrangement or merger of CGI with any
        other person or other entity, or a sale or conveyance of the property
        and assets of CGI as an entity or substantially as the entirety to any
        other person or entity or a liquidation, dissolution or winding-up of
        CGI.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>7.2</b></font></font></td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>General Covenants</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(a)</font></font></td>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="2">CGI
      covenants with the Escrow Agent, the Underwriters and the Subscription Receipt
      holders that so long as any Subscription Receipts remain outstanding:</font></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="2">(i)</font></font></td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="2">it will use its
      best efforts to maintain its corporate existence;</font></font></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> <B>
  </B> &#151; 26 &#151;</FONT></FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(ii)</font></font></td>
    <td width="65%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        it will make all requisite filings under Canadian Securities Laws including
        those necessary to remain a reporting issuer not in default in each of
        the Provinces of Canada; </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(iii)</font></font></td>
    <td width="65%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        it will announce by press release the expected Effective Time or the Termination
        Time, as the case may be in accordance with Section 5.1 or Subsection
        6.1(a)(i), as the case may be;</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(iv)</font></font></td>
    <td width="65%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        ensure that the Class A Shares issued on exchange for Subscription Receipts
        will be, when issued, duly authorized, fully paid (assuming release of
        the Escrowed Subscription Funds to CGI pursuant to the terms hereof) and
        non-assessable;</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(v)</font></font></td>
    <td width="65%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        generally, it will perform and carry out all of the acts or things to
        be done by it as provided in this Agreement; and</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(vi)</font></font></td>
    <td width="65%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        prior to the earlier of the Effective Date or the Termination Date, it
        will not sell the properties or assets of CGI as, or substantially as,
        an entirety, to any other entity</font><font face="Arial, Helvetica, sans-serif"><font size="2">.</font></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>7.3</b></font></font></td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>Securities Law Matters</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">CGI
        shall file all documents, notices and certificates and take such steps
        and do such things as may be necessary under Canadian Securities Laws
        to permit the issuance of Subscription Receipts pursuant to private placement
        exemptions and Class A Shares issuable on exchange of Subscription Receipts,
        such that any such issuance will be exempt from prospectus requirements
        under Canadian Securities Laws.</font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>ARTICLE
        8</b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
        MEETINGS OF RECEIPTHOLDERS</b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>8.1</b></font></font></td>
    <td colspan="3"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      <u>Right to Convene Meeting</u></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        Escrow Agent or CGI may at any time and from time to time, and the Escrow
        Agent shall, on receipt of a written request of CGI or a written request
        signed by the holders of not less than 25% of the Subscription Receipts
        then outstanding and upon being indemnified, to the Escrow Agent&#146;s
        reasonable satisfaction by CGI or by the Receiptholders signing such request,
        against the costs which may be incurred in connection with the calling
        and holding of such meeting, convene a meeting of the Receiptholders.
        In the event the Escrow Agent fails within 30 days after receipt of any
        such request and such indemnity to give notice convening a meeting, CGI
        or such Receiptholders, as the case may be, may convene such meeting.
        Every such meeting shall be held in the City of Montreal, Qu&eacute;bec,
        or at such other place as may be approved or determined by the Escrow
        Agent.</font></font> </div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT"></P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT"></P>
<p>&nbsp;</p>
<p>&nbsp; </p>
<p align="center"><font face="Times New Roman, Times, Serif"><font size="2">&#151;</font></font>
  <font face="Times New Roman, Times, Serif"><font size="2" face="Arial, Helvetica, sans-serif">27</font><font size="2">
  &#151;</font></font> </p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%"><font face="Times New Roman, Times, Serif"><font size="2"><b><font face="Arial, Helvetica, sans-serif">8.2
      </font></b></font></font></td>
    <td width="85%"><font face="Times New Roman, Times, Serif"><font size="2"><b><font face="Arial, Helvetica, sans-serif"><u>Notice
      of Meetings</u></font></b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font face="Times New Roman, Times, Serif"><font size="2"><font face="Arial, Helvetica, sans-serif">At
        least 15 days notice of any meeting shall be given to the Receiptholders
        in the manner provided in Section 9.2 and a copy of such notice shall
        be sent by post to the Escrow Agent, unless the meeting has been called
        by it. Such notice shall state the time when and the place where the meeting
        is to be held and shall state briefly the general nature of the business
        to be transacted thereat and it shall not be necessary for any such notice
        to set out the terms of any resolution to be proposed or any of the provisions
        of this Article. The accidental omission to give notice of a meeting to
        any holder of Subscription Receipts shall not invalidate any resolution
        passed at any such meeting. A holder may waive notice of a meeting either
        before or after the meeting.</font></font></font> </div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.3</b></font></td>
    <td width="85%"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Chair</u></b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Some
        person, who need not be a Receiptholder, nominated in writing by the Escrow
        Agent shall be chair of the meeting and if no person is so nominated,
        or if the person so nominated is not present within 15 minutes from the
        time fixed for the holding of the meeting, the Receiptholders present
        in person or by proxy shall choose some person present to be chair.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.4</b></font></td>
    <td width="85%"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Quorum</u></b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Subject
        to the provisions of Section 8.12, at any meeting of the Receiptholders
        a quorum shall consist of Receiptholders present in person or by proxy
        and representing at least 25% of the outstanding Subscription Receipts.
        If a quorum of the Receiptholders is not present within 30 minutes from
        the time fixed for holding any meeting, the meeting, if summoned by the
        Receiptholders or pursuant to a request of the Receiptholders, shall be
        dissolved; but in any other case the meeting shall be adjourned to the
        same day in the next week (unless such day is not a Business Day in which
        case it shall be adjourned to the next following Business Day thereafter)
        at the same time and place and no notice shall be required to be given
        in respect of such adjourned meeting. At the adjourned meeting, the Receiptholders
        present in person or by proxy shall form a quorum and may transact the
        business for which the meeting was originally convened notwithstanding
        that they may not represent 25% of the outstanding Subscription Receipts.
        Any business may be brought before or dealt with at an adjourned meeting
        which might have been brought before or dealt with at the original meeting
        in accordance with the notice calling the same. No business shall be transacted
        at any meeting unless the required quorum be present at the commencement
        of business.</font> </div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>8.5</b></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Power to Adjourn</u></b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        chair of any meeting at which a quorum of the Receiptholders is present
        may, with the consent of the holders of a majority of the Subscription
        Receipts represented thereat, adjourn any such meeting and no notice of
        such adjournment need be given except such notice, if any, as the meeting
        may prescribe.</font> </div></td>
  </tr>
</table>
<p>&nbsp; </p>
<P ALIGN="LEFT">&nbsp; </P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<font size="2" face="Arial, Helvetica, sans-serif"> </font>
<P ALIGN="center"><font size="2" face="Arial, Helvetica, sans-serif">&#151; 28
  &#151;</font> </P>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.6</b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Show
      of Hands</u></b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Every
        question submitted to a meeting shall, subject to Section 8.7, be decided
        in the first place by a majority of the votes given on a show of hands.
        At any such meeting, unless a poll is duly demanded as herein provided,
        a declaration by the chair that a resolution has been carried or carried
        unanimously or by a particular majority or lost or not carried by a particular
        majority shall be conclusive evidence of the fact. The chair of any meeting
        shall be entitled, both on a show of hands and on a poll, to vote in respect
        of the Subscription Receipts, if any, held by him or her.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.7
      </b></font></td>
    <td width="10%"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>Poll</u></b></font></td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">On
        every Extraordinary Resolution, and on any other question submitted to
        a meeting, when demanded by the chair or by one or more Receiptholders
        or proxies for Receiptholders, a poll shall be taken in such manner and
        either at once or after an adjournment as the chair shall direct. Questions
        other than Extraordinary Resolutions shall, if a poll be taken, be decided
        by the votes of the holders of a majority of the Subscription Receipts
        represented at the meeting and voted on the poll.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.8
      </b></font></td>
    <td width="10%"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>Voting</u></b></font></td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">On
        a show of hands every person who is present and entitled to vote, whether
        as a Receiptholder or as proxy for one or more Receiptholders or both,
        shall have one vote. On a poll each Receiptholder present in person or
        represented by a proxy duly appointed by an instrument in writing shall
        be entitled to one vote in respect of each Subscription Receipt of which
        he or she shall then be the holder. A proxy need not be a Receiptholder.
        In the case of joint holders of a Subscription Receipt, any one of them
        present in person or by proxy at the meeting may vote in the absence of
        the other or others but in case more than one of them be present in person
        or by proxy, they shall vote together in respect of the Subscription Receipts
        of which they are joint holders.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>8.9</b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Regulations</u></b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Escrow Agent, or CGI with the approval of the Escrow Agent, may from time
        to time make and from time to time vary or revoke such regulations as
        it shall from time to time think fit providing for and governing:</font>
      </div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        the setting of the record date for a meeting of holders of Subscription
        Receipts for the purpose of determining Receiptholders entitled to receive
        notice of and vote at such meeting;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        the form of the instrument appointing a proxy, which shall be in writing,
        and the manner in which the same shall be executed and the production
        of the authority of any person signing on behalf of a Receiptholder;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(c)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        the deposit of instruments appointing proxies at such place as the Escrow
        Agent, CGI or the Receiptholder convening the meeting, as the case may
        be, may, in the</font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif">&#151; 29
  &#151;</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">notice
      convening the meeting, direct and the time, if any, before the holding of
      the meeting or any adjournment thereof by which the same must be deposited;
      </font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(d)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">the
        deposit of instruments appointing proxies at some approved place or places
        other than the place at which the meeting is to be held and enabling particulars
        of such instruments appointing proxies to be mailed, faxed, emailed or
        otherwise sent electronically before the meeting to CGI or to the Escrow
        Agent at the place where the same is to be held and for the voting of
        proxies so deposited as though the instruments themselves were produced
        at the meeting; and</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(e)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">generally
        for the calling of meetings of Receiptholders and the conduct of business
        thereat. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Any
        regulations so made shall be binding and effective and the votes given
        in accordance therewith shall be valid and shall be counted. Save as such
        regulations may provide, the only persons who shall be recognized at any
        meeting as the holders of any Subscription Receipts, or as entitled to
        vote or be present at the meeting in respect thereof shall be Receiptholders
        and persons whom Receiptholders have by instrument in writing duly appointed
        as their proxies.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.10</b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Persons
      Entitled to Attend Meetings</u></b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">CGI,
        the Escrow Agent and the Underwriters, by their respective officers, directors
        and representatives, and the legal advisers of CGI, the Escrow Agent,
        the Underwriters or any Receiptholder may attend any meeting of the Receiptholders,
        but shall have no vote as such. <b></b></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>8.11</b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>Powers
      Exercisable by Extraordinary Resolution</u></b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">In
        addition to the powers conferred upon them by any other provisions of
        this Agreement or by law, a meeting of the Receiptholders shall have the
        following powers exercisable from time to time by Extraordinary Resolution,
        subject to the approval of the Toronto Stock Exchange, where applicable:</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        to agree to any modification, abrogation, alteration, compromise or arrangement
        of the rights of Receiptholders or the Escrow Agent in its capacity as
        escrow agent hereunder or on behalf of the Receiptholders against CGI
        whether such rights arise under this Agreement or the Subscription Receipt
        Certificate or otherwise;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        to amend, alter or repeal any Extraordinary Resolution previously passed
        or sanctioned by the Receiptholders;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(c)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        to direct or to authorize the Escrow Agent to enforce any of the covenants
        on the part of CGI contained in this Agreement or the Subscription Receipt
        Certificates or to enforce any of the rights of the Receiptholders in
        any manner specified in such Extraordinary Resolution or to refrain from
        enforcing any such covenant or right;</font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif"> <B> </B>
  &#151; 30 &#151;</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(d)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        to waive, and to direct the Escrow Agent to waive, any default on the
        part of CGI in complying with any provisions of this Agreement or the
        Subscription Receipt Certificates either unconditionally or upon any conditions
        specified in such Extraordinary Resolution; </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(e)
      </font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">to
        restrain any Receiptholder from taking or instituting any suit, action
        or proceeding against CGI for the enforcement of any of the covenants
        on the part of CGI in this Agreement or the Subscription Receipt Certificates
        or to enforce any of the rights of the Receiptholders; </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(f)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        to direct any Receiptholder who, as such, has brought any suit, action
        or proceeding to stay or to discontinue or otherwise to deal with the
        same upon payment of the costs, charges and expenses reasonably and properly
        incurred by such Receiptholder in connection therewith;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(g)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        to assent to any change in or omission from the provisions contained in
        the Subscription Receipt Certificates and this Agreement or any ancillary
        or supplemental instrument which may be agreed to by CGI, and to authorize
        the Escrow Agent to concur in and execute any ancillary or supplemental
        agreement embodying the change or omission;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(h)
      </font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">with
        the consent of CGI (such consent not to be unreasonably withheld), to
        remove the Escrow Agent or its successor in office and to appoint a new
        escrow agent to take the place of the Escrow Agent so removed;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(i)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        to assent to any compromise or arrangement with any creditor or creditors
        or any class or classes of creditors, whether secured or otherwise and
        with holders of any shares or other securities of CGI.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>8.12</b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Meaning
      of &#147;Extraordinary Resolutio</u></b><u><strong>n&#148;</strong></u>
      </font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a) </font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        expression &#147;<b>Extraordinary Resolution</b>&#148; when used in this
        Agreement means, subject as hereinafter in this Article provided, a resolution
        proposed to be passed as an Extraordinary Resolution at a meeting of Receiptholders
        (including an adjourned meeting) duly convened for the purpose and held
        in accordance with the provisions of this Article at which the holders
        of not less than 25% of the Subscription Receipts then outstanding are
        present in person or by proxy and passed by the favourable votes of the
        holders of not less than 66 2/3% of the Subscription Receipts represented
        at the meeting and voted on a poll upon such resolution. </font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">If,
        at any such meeting, the holders of not less than 25% of the Subscription
        Receipts outstanding are not present in person or by proxy within 30 minutes
        after the time appointed for the meeting, then the meeting, if convened
        by or on the requisition of Receiptholders, shall be dissolved; but in
        any other case it shall stand adjourned to such date, being not less than
        14 nor more than 60 days later, and to such place and time as may be appointed
        by the chairman. Not less than 10 days notice shall be given of the time
        and place of such adjourned meeting in</font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif"> &#151; 31
  &#151;</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">the
        manner provided in Section 9.2. Such notice shall state that at the adjourned
        meeting the Receiptholders present in person or by proxy shall form a
        quorum. At the adjourned meeting the Receiptholders present in person
        or by proxy shall form a quorum and may transact the business for which
        the meeting was originally convened and a resolution proposed at such
        adjourned meeting and passed by the requisite vote as provided in subsection
        (a) of this Section shall be an Extraordinary Resolution within the meaning
        of this Agreement, notwithstanding that the holders of not less than 25%
        of the Subscription Receipts then outstanding are not present in person
        or by proxy at such adjourned meeting. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(c)</font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        Votes on an Extraordinary Resolution shall always be given on a poll and
        no demand for a poll on an Extraordinary Resolution shall be necessary.
        <b></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.13</b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Powers
      Cumulative</u></b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">It
        is hereby declared and agreed that any one or more of the powers in this
        Agreement stated to be exercisable by the Receiptholders by Extraordinary
        Resolution or otherwise may be exercised from time to time and the exercise
        of any one or more of such powers from time to time shall not be deemed
        to exhaust the rights of the Receiptholders to exercise the same or any
        other such power or powers thereafter from time to time.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.14</b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Minutes</u></b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Minutes
        of all resolutions and proceedings at every meeting as aforesaid shall
        be made and duly entered in books to be from time to time provided for
        that purpose by the Escrow Agent at the expense of CGI, and any such minutes
        as aforesaid, if signed by the chairman of the meeting at which such resolutions
        were passed or proceedings had, or by the chairman of the next succeeding
        meeting of the Receiptholders, shall be <i>prima facie </i>evidence of
        the matters therein stated and, until the contrary is proved, every such
        meeting, in respect of the proceedings of which minutes shall have been
        made, shall be deemed to have been duly held and convened, and all resolutions
        passed thereat or proceedings taken thereat to have been duly passed and
        taken.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>8.15</b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Instruments
      in Writing</u></b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">All
        actions which may be taken and all powers that may be exercised by the
        Receiptholders at a meeting held as hereinbefore in this Article provided
        may also be taken and exercised by the holders of 66 2/3% of the outstanding
        Subscription Receipts, by an instrument in writing signed in one or more
        counterparts and the expression &#147;Extraordinary Resolution&#148; when
        used in this Agreement shall include an instrument so signed.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>8.16</b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Binding
      Effect of Resolutions</u></b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Every
        resolution and every Extraordinary Resolution passed in accordance with
        the provisions of this Article at a meeting of Receiptholders shall be
        binding upon all the Receiptholders, whether present at or absent from
        such meeting, and every instrument in writing signed by Receiptholders
        in accordance with Section 8.15 shall be binding upon</font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif">&#151; 32
  &#151;</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">all
        the Receiptholders, whether signatories thereto or not, and each and every
        Receiptholder and the Escrow Agent (subject to the provisions for its
        indemnity herein contained) shall be bound to give effect accordingly
        to every such resolution, Extraordinary Resolution and instrument in writing.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.17</b></font></td>
    <td width="85%"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Evidence
      of Rights of Receiptholders</u></b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Any
        request, direction, notice, consent or other instrument which this Agreement
        may require or permit to be signed or executed by the Receiptholders,
        including an instrument, signed in one or more counterparts by Receiptholders
        holding, in aggregate, not less than 25% of all Subscription Receipts
        outstanding (a &#147;<b>Receiptholders&#146; Request</b>&#148;), may be
        in any number of concurrent instruments of similar tenor and may be signed
        or executed by such Receiptholders in person or by attorney duly appointed
        in writing. Proof of the execution of any such request or other instrument
        or of a writing appointing any such attorney or (subject to the provisions
        of this Article with regard to voting at meetings of Receiptholders) of
        the holding by any person of Subscription Receipts shall be sufficient
        for any purpose of this Agreement if made in the following manner, namely,
        the fact and date of execution by any person of such request or other
        instrument or writing may be proved by the certificate of any notary public,
        or other officer authorized to take acknowledgements of deeds to be recorded
        at the place where such certificate is made, that the person signing such
        request or other instrument in writing acknowledged to him the execution
        thereof, or by an affidavit of a witness of such execution or in any other
        manner which the Escrow Agent may consider adequate.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Escrow Agent may, nevertheless, in its discretion, require further proof
        in cases where it deems further proof desirable or may accept such other
        proof as it shall consider proper.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.18
      </b></font></td>
    <td width="85%"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>Holdings
      by CGI Disregarded</u></b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">In
        determining whether Receiptholders holding the required number of Subscription
        Receipts are present at a meeting of Receiptholders for the purpose of
        determining a quorum or have concurred in any consent, waiver, extraordinary
        resolution, Receiptholders&#146; Request or other action under this Agreement,
        Subscription Receipts owned legally or beneficially by CGI shall be disregarded.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>8.19</b></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Suits by Receiptholders</u></b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">All
        or any rights conferred upon any Receiptholder by any term of this Agreement
        may be enforced by the Receiptholder by appropriate proceedings but without
        prejudice to the right which is hereby conferred upon the Escrow Agent
        to proceed in its own name to enforce each and all provisions contained
        herein for the benefit of the Receiptholder.</font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif">&#151; 33
  &#151; </FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b>ARTICLE
        9</b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b>MISCELLANEOUS</b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>9.1</b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Notices</u>
      </b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Any
        notice or other communication to be given by any of CGI, the Escrow Agent
        or the Underwriters to any of the others shall be in writing and signed
        by an authorized signatory of the party giving the notice. Any such notice
        shall be addressed to the relevant party at its address as given below
        or at such other address as may be notified from time to time in accordance
        with this Section 9.1 and delivered or sent by facsimile to such party.
        The addresses for notice or other communication to the parties shall be:</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b>CGI
      Group Inc.<br>
      </b>1130 Sherbrooke Street West<b><br>
      </b>5th Floor<b> <br>
      </b>Montr&eacute;al, Qu&eacute;bec<b> <br>
      </b>H3A 2M8<b> </b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><font size="2" face="Arial, Helvetica, sans-serif">Attention:</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Mr. Serge
      Godin</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Chairman
      and Chief Executive Officer</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Fax No.:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">514-841-3294</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">With a
      copy addressed and sent to:</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b>McCarthy
      T&eacute;trault LLP<br>
      </b>Le Windsor, 1170, rue Peel<b> <br>
      </b>Montr&eacute;al (Qu&eacute;bec) Canada<b><br>
      </b>H3B 4S8<b> </b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Attention:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Me Jean-Ren&eacute;
      Gauthier</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Fax No.:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">514.875.6246</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">if to the
      Underwriters:</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b>National
      Bank Financial Inc.<br>
      </b>National Bank Financial Inc.<b><br>
      </b>The Exchange Tower<br>
      130 King Street West<br>
      Suite 3200, P.O. Box 21<br>
      Toronto, Ontario <br>
      M5X 1J9 </font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Attention:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Brian Campbell</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Fax No.:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">416-869-6411</font></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B> </B> </FONT></P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif">&#151; 34
  &#151;</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><font size="2" face="Arial, Helvetica, sans-serif">and:</font></td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b>Credit
      Suisse First Boston Canada Inc.<br>
      </b>3935 &#151; 1250 Rene-Levesque Blvd. West<b> <br>
      </b>Montr&eacute;al, Qu&eacute;bec<br>
      H3B 4W8 </font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><font size="2" face="Arial, Helvetica, sans-serif">Attention:</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">Michael
      Fortier</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><font size="2" face="Arial, Helvetica, sans-serif">Fax No.:</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">514-846-2821</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">With a
      copy addressed and sent to:</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b>Ogilvy
      Renault<br>
      </b>Suite 2100, P.O. Box 141<br>
      Royal Trust Tower, TD Centre<br>
      Toronto, Ontario<br>
      M5K 1H1</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Attention:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Michael J. Lang</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Fax No:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">416-216-3930</font></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif"> &#151; 35
  &#151;</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">if to the
      Escrow Agent:</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b>Computershare
      Trust Company of Canada<br>
      </b>Corporate Trust Department<b> <br>
      </b>1500 University Street, Suite 700<b> <br>
      </b>Montr&eacute;al, Qu&eacute;bec<b> <br>
      </b>H3A 3S8<b> </b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><font size="2" face="Arial, Helvetica, sans-serif">Attention:</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">General
      Manager, Corporate Trust</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><font size="2" face="Arial, Helvetica, sans-serif">Fax No.:</font></td>
    <td width="75%"><font size="2" face="Arial, Helvetica, sans-serif">514-982-7677</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Any
        such notice shall be deemed to have been received at the time of delivery,
        or time of sending if by facsimile, provided that any delivery made or
        facsimile sent on other than a Business Day, or after 5:00 p.m. (Montreal
        Time) on a Business Day, shall be deemed to have been received at 9:00
        a.m. (Montreal Time) on the next following Business Day. Any facsimile
        shall be followed by a delivery of the same document by hand, courier
        or by mail, provided that notice shall be deemed to have been validly
        sent by facsimile notwithstanding any inadvertent failure to deliver the
        same document by hand, courier or mail.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>9.2 </b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>Notice
      to Receiptholders</u></b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a) </font></td>
    <td valign="top"> <div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Any
        notice to the Receiptholders under the provisions of this Agreement shall
        be valid and effective if sent by letter or circular through the ordinary
        post addressed to such holders at their post office addresses appearing
        on the register hereinbefore mentioned and shall be deemed to have been
        effectively given on the date of delivery or, if mailed, five Business
        Days following actual posting of the notice.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        If, by reason of a strike, lockout or other work stoppage, actual or threatened,
        involving postal employees, any notice to be given to the Receiptholders
        hereunder could reasonably be considered unlikely to reach its destination,
        such notice shall be valid and effective only if it is delivered personally
        to such Receiptholders or if delivered to the address for such Receiptholders
        contained in the register of Subscription Receipts maintained by the Escrow
        Agent.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(c)</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        Whenever payments are to be made or documents are to be sent to or to
        the account of any holder of Subscription Receipts by the Escrow Agent,
        then if such payment is made or such document is sent by mail, such payment
        or document shall be so sent at the risk of the recipient.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>9.3</b></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Power
      to Amend</u> </b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">All
        and any provisions of this Agreement and the Subscription Receipts may,
        from time to time, be amended by agreement between the Escrow Agent, the
        Underwriters and CGI</font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif"> &#151; 36
  &#151;</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">in
        any respect that they deem necessary or desirable, without the need for
        any additional consent by or on behalf of the holders of Subscription
        Receipts for the purpose of curing any ambiguity, or of curing, correcting
        or supplementing any defective provisions contained herein or in any manner
        that the Escrow Agent, the Underwriters and CGI may deem necessary or
        expedient and that does not in the opinion of the Escrow Agent prejudice
        the holders of Subscription Receipts as a group. If this Agreement is
        so amended, references herein to this Agreement shall, unless the context
        otherwise requires, be construed, as from the date from which such amendment
        is expressed to be made, as references to this Agreement as so amended.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>9.4
      </b></font></td>
    <td width="85%"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>Compliance
      with Laws and Regulations</u></b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">In
        performing their respective obligations under this Agreement, CGI, the
        Underwriters and the Escrow Agent shall comply with all applicable laws
        and regulations binding on them respectively.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>9.5</b></font></td>
    <td width="85%"><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Waiver</u></b></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Each
        of the parties hereto shall have the right to waive any of its rights
        under this Agreement in whole or in part, in its absolute discretion,
        and any such right once waived may thereafter, subject to the terms of
        the waiver, be reasserted by such party at any time and enforced pursuant
        to the terms of this Agreement.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>9.6</b></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Further Assurances</u></b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        parties hereto agree that at any time and from time to time, upon the
        written request of and at the expense of CGI, they and each of them will
        promptly execute and deliver all further instruments and documents, and
        take all further action, that may reasonably be necessary or desirable,
        or that any party may reasonably request in order to give effect to the
        purpose and intention of this Agreement.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>9.7</b></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Assignment,
      Successors and Assigns</u></b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">None
        of the parties hereto may assign its rights under this Agreement, except
        as provided in Article 3 in the case of the Escrow Agent, without the
        prior written consent of the parties hereto other than such proposed assignor.
        Subject thereto, this Agreement shall enure to the benefit of and be binding
        upon the parties hereto and their respective successors and permitted
        assigns.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>9.8</b></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b> <u>Governing Law</u></b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">This
        Agreement shall be governed by and construed in accordance with the laws
        of the Province of Qu&eacute;bec and the federal laws of Canada applicable
        therein. Each of the parties irrevocably attorns to the exclusive jurisdiction
        of the courts of the Province of Qu&eacute;bec with respect to all matters
        arising out of this Agreement and the transactions contemplated herein.</font>
      </div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT"></P>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, Serif"><font size="2">&#151;</font><font face="Times New Roman, Times, Serif"><font size="2" face="Arial, Helvetica, sans-serif">
  37</font><font size="2"> &#151;</font></font> </font></p>
<p><BR>
</p>
<table width="99%" border="0">
  <tr>
    <td width="15%"><font face="Times New Roman, Times, Serif"><font size="2"><b><font face="Arial, Helvetica, sans-serif">9.9</font></b></font></font></td>
    <td width="85%"><font face="Times New Roman, Times, Serif"><font size="2"><b><font face="Arial, Helvetica, sans-serif">
      <u>Counterparts</u></font></b></font></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font face="Times New Roman, Times, Serif"><font size="2"><font face="Arial, Helvetica, sans-serif">This
        Agreement may be executed in counterparts, each of which when so executed
        shall be deemed to be an original, and such counterparts together shall
        constitute one and the same instrument.</font></font></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">IN
        WITNESS WHEREOF the parties hereto have executed this Agreement on the
        date first mentioned above.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><strong>CGI GROUP INC.</strong></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">By: (signed) Andr&eacute;
      Imbeau </font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_________________________________________</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andr&eacute;
      Imbeau</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><strong>NATIONAL BANK
      FINANCIAL INC.</strong></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">By: (signed) Brian
      Campbell </font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_________________________________________</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brian
      Campbell</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><strong>CREDIT SUISSE
      FIRST BOSTON CANADA INC.</strong></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">By: (signed) Russell
      Proutt</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_________________________________________</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Russell
      Proutt</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><strong>COMPUTERSHARE
      TRUST COMPANY OF CANADA</strong></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">By: (signed) Fabienne
      Pinatel </font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_________________________________________</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fabienne
      Pinatel, Corporate Trust Officer</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">By: (signed) Toni De
      Luca </font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;__________________________________________</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toni
      De Luca, Manager, Corporate Trust</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>SCHEDULE
  &#147;A&#148;<br>
  to the</B></FONT> <font face="Arial, Helvetica, sans-serif"><br>
  <FONT SIZE="2"><B>SUBSCRIPTION RECEIPT AGREEMENT<br>
  ESCROW RELEASE NOTICE</B></FONT></font></p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>To:
      </b></font></font></td>
    <td width="85%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>Computershare
      Trust Company of Canada</b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>National</b></font><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      Bank Financial, Inc.</b></font></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>Credit
      Suisse First Boston Canada Inc.</b></font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">Re:
      </font></font></td>
    <td width="85%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Subscription
        Receipt Agreement (the "Agreement") dated March 19, 2004 between CGI Group
        Inc. (the "Company"), National Bank Financial Inc. and Credit Suisse First
        Boston Canada Inc. (such two being the "Underwriters") and Computershare
        Trust Company of Canada (the "Escrow Agent")</font></font></div></td>
  </tr>
  <tr>
    <td colspan="2"><HR NOSHADE COLOR="Black" SIZE="1"></td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><font size="2" face="Arial, Helvetica, sans-serif">The Company,
      by its Chief Executive Officer and Chief Financial Officer, on behalf of
      the Company and without personal liability, hereby certifies that prior
      to the Termination Time:</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(a)</font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        prior to the expiry of the Tender Offer, there has been validly deposited
        under the Tender Offer and not withdrawn at least the Minimum Number of
        AMS Shares, and CGI has issued to the Depository the Minimum Take-up Notice;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(b)</font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        the Merger Agreement is in full force and effect and unamended since the
        date of execution thereof save for amendments:</font> </div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(i)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        which do not have the effect of increasing the net value of the consideration
        to be paid under the Acquisition by CGI or any of its subsidiaries by
        more than 5% pursuant to the Merger Agreement; or</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(ii)</font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        which do not have the effect of reducing the value of the consideration
        to be paid for the DIG Business by more than 5% or do not affect the time
        of closing of the sale of the DIG Business pursuant to the DIG Sale Agreement;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">or
        amendments which have the effect set out in (i) or (ii) above but which
        have received the prior written approval of the Underwriters;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(c)</font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        neither CGI nor CGI Virginia Corporation has waived a condition of closing
        under the Acquisition pertaining to the absence of a Material Adverse
        Effect (as defined in the Merger Agreement as at the date of execution
        thereof) without the prior written consent of the Underwriters; and </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(d)</font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">
        AMS and CACI International, Inc. have irrevocably agreed and are unconditionally
        obligated to complete the sale of the DIG Business pursuant to the DIG
        Sale Agreement at or prior to the delivery of the Minimum Take-up Notice
        to the Depository.</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p><FONT size="2" FACE="Arial, Helvetica, sans-serif"> </FONT></p>
<p><font size="2" face="Arial, Helvetica, sans-serif"> </font><FONT size="2" FACE="Arial, Helvetica, sans-serif">
  </FONT><font size="2" face="Arial, Helvetica, sans-serif"> </font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">&#151;</font>
  <font size="2" face="Arial, Helvetica, sans-serif">2 &#151;</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Enclosed
        herewith is a copy of the Minimum Take-up Notice addressed to Computershare
        Trust Company of New York in its capacity as the Depository under the
        Tender Offer.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        Company and the Underwriters irrevocably instruct the Escrow Agent, forthwith
        upon receipt of this notice by facsimile, to deliver the Escrowed Subscription
        Funds and Earned Interest in the following amounts to the following wire
        transfer accounts:</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">as to $[&#149;],
      to:</font></td>
    <td width="65%"><font size="2" face="Arial, Helvetica, sans-serif">CGI Group
      Inc.</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&#149; CGI Account
      Info</font> </td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">as to $[&#149;],
      to:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">National Bank Financial
      Inc.</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&#149; National Bank
      Financial Inc. Account Information</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">as to $[&#149;],
      to:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Credit Suisse First
      Boston Canada Inc.</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&#149; National Bank
      Financial Inc. Account Information</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="3"><font size="2" face="Arial, Helvetica, sans-serif">All capitalized
      terms undefined herein have the meanings given to them in the Agreement.</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="3">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="3"><font size="2" face="Arial, Helvetica, sans-serif"><b>DATED
      </b>this___________________day of &#149;, 2004.</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="3">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="3">&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="45%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>CGI
      GROUP INC.</b></font></font></td>
    <td width="15%">&nbsp;</td>
  </tr>
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
  </tr>
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
  </tr>
  <tr>
    <td width="35%" height="24">&nbsp;</td>
    <td width="5%"><font face="Arial, Helvetica, sans-serif"><font size="2">By:
      </font></font></td>
    <td width="45%"><font face="Arial, Helvetica, sans-serif"><font size="2">__________________________________________</font></font></td>
    <td width="15%">&nbsp;</td>
  </tr>
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="45%"><font face="Arial, Helvetica, sans-serif"><font size="2">Serge
      Godin, Chief Executive Officer</font></font></td>
    <td width="15%">&nbsp;</td>
  </tr>
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
  </tr>
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
  </tr>
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
  </tr>
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="5%"><font face="Arial, Helvetica, sans-serif"><font size="2">By:</font></font></td>
    <td width="45%"><font face="Arial, Helvetica, sans-serif"><font size="2">
      __________________________________________</font></font></td>
    <td width="15%">&nbsp;</td>
  </tr>
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="45%"><font face="Arial, Helvetica, sans-serif"><font size="2">Andre
      Imbeau, Chief Financial Officer</font></font></td>
    <td width="15%">&nbsp;</td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">&#151;</font><font size="2" face="Arial, Helvetica, sans-serif">
  3 &#151;</font> </p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p><font size="2" face="Arial, Helvetica, sans-serif">The above confirmation and
  release and payment instructions are affirmed by the undersigned: </font></p>
<table width="99%" border="0">
  <tr>
    <td width="45%"><font size="2" face="Arial, Helvetica, sans-serif"><b>NATIONAL
      BANK FINANCIAL INC.</b></font> </td>
    <td width="10%">&nbsp;</td>
    <td width="45%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>CREDIT
      SUISSE FIRST BOSTON CANADA INC.</b></font></font></td>
  </tr>
  <tr>
    <td width="45%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
  </tr>
  <tr>
    <td width="45%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
  </tr>
  <tr>
    <td width="45%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
  </tr>
  <tr>
    <td width="45%"><font size="2" face="Arial, Helvetica, sans-serif">By:__________________________________</font></td>
    <td width="10%">&nbsp;</td>
    <td width="45%"><font face="Arial, Helvetica, sans-serif"><font size="2">By:___________________________________</font></font></td>
  </tr>
  <tr>
    <td width="45%"><font size="2" face="Arial, Helvetica, sans-serif">Name: </font></td>
    <td width="10%">&nbsp;</td>
    <td width="45%"><font face="Arial, Helvetica, sans-serif"><font size="2">Name:
      </font></font></td>
  </tr>
  <tr>
    <td width="45%"><font size="2" face="Arial, Helvetica, sans-serif">Title:</font></td>
    <td width="10%">&nbsp;</td>
    <td width="45%"><font face="Arial, Helvetica, sans-serif"><font size="2">Title:</font></font></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>SCHEDULE
  &#147;B&#148;<br>
  to the<br>
  SUBSCRIPTION RECEIPT AGREEMENT</B></FONT></p>
<p align="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif"><B>CGI GROUP
  INC.<br>
  FORM OF<br>
  SUBSCRIPTION RECEIPT<br>
  CERTIFICATE</B></FONT></p>
<p align="center">&nbsp;</p>
<P ALIGN="right"><font size="2" face="Arial, Helvetica, sans-serif"><B>CUSIP No.
  39945C117</B></font></P>
<P ALIGN="justify"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>THIS
  IS TO CERTIFY THAT </B>______________________________ is the registered holder
  of_____________ Subscription Receipts issued by CGI Group Inc. <B>(&#147;CGI&#148;)</B>.
  The Subscription Receipts are issued pursuant to, and are subject to the provisions
  of, a Subscription Receipt Agreement (the &#147;<B>Subscription Receipt Agreement</B>&#148;)
  dated March 19, 2004, between CGI, National Bank Financial Inc. and Credit Suisse
  First Boston Canada Inc. (such two being the &#147;<B>Underwriters</B>&#148;)
  and Computershare Trust Company of Canada (the &#147;<B>Escrow Agent</B>&#148;).
  Capitalized terms used and not defined herein have the respective meanings ascribed
  thereto in the Subscription Receipt Agreement.</FONT></P>
<P ALIGN="justify"><FONT size="2" FACE="Arial, Helvetica, sans-serif">This certificate
  evidences the agreements constituted by the Subscription Receipts between the
  holders thereof and CGI by which CGI is obligated to issue, and the holders
  are obligated to acquire, at the Effective Time, one Class A Share in the capital
  of CGI for each Subscription Receipt for no additional consideration on the
  basis provided in the Subscription Receipt Agreement.</FONT> </P>
<div align="justify">
  <p><FONT size="2" FACE="Arial, Helvetica, sans-serif">The holder of the Subscription
    Receipts represented hereby should refer to the Subscription Receipt Agreement
    for a description of the terms and conditions upon which the Subscription
    Receipts are issued and are to be held. CGI will furnish to the holder of
    this Certificate, upon request, a copy of the Subscription Receipt Agreement.</FONT>
  </p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">Compliance with the securities
    laws of any jurisdiction is the responsibility of the holder of the Subscription
    Receipts or its transferee. </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">The holding of this Certificate
    shall not constitute the holder hereof a holder of Class A Shares or entitle
    such holder to any right or interest in respect thereof except as expressly
    provided herein and in the Subscription Receipt Agreement.</font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">This Certificate shall
    not be valid for any purpose whatever unless and until it has been countersigned
    by the Escrow Agent for the time being under the Subscription Receipt Agreement.</font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">After the completion of
    the agreements constituted by the Subscription Receipts, this Certificate
    and all rights thereunder and hereunder shall be void and of no effect or
    value. </font></p>
  <p><font size="2" face="Arial, Helvetica, sans-serif">Time is of the essence
    hereof.</font> </p>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <hr width="100%" size=4 color=GRAY noshade>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif">&#151;
    2 &#151;</font></p>
</div>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>IN WITNESS WHEREOF </B>this
  certificate has been executed on behalf of CGI Group Inc. as of the _________
  day of ___________ , 2004. </FONT></p>
<table width="99%" border="0">
  <tr>
    <td width="40%"><font size="2" face="Arial, Helvetica, sans-serif">Countersigned
      by:</font></td>
    <td width="60%"><font size="2" face="Arial, Helvetica, sans-serif"><b>CGI
      GROUP INC.</b></font> <font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="40%">&nbsp;</td>
    <td width="60%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%">&nbsp;</td>
    <td width="60%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%">&nbsp;</td>
    <td width="60%"><font size="2" face="Arial, Helvetica, sans-serif">By:___________________________________</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Certification: </font></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><strong>COMPUTERSHARE
      TRUST COMPANY OF CANADA</strong></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">By:___________________________________
      </font></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Name:_________________________________</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Title:__________________________________</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Dated:__________________,
      2004</font></td>
    <td>&nbsp;</td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">&#151;</font><font size="2" face="Arial, Helvetica, sans-serif">
  3 &#151;</font> <font size="2" face="Arial, Helvetica, sans-serif"> </font>
</p>
<p align="center">&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><BR>
  </font><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>(Reverse) </B></FONT></p>
<p><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>FOR VALUE RECEIVED </B>the
  undersigned hereby sells, assigns and transfers unto</FONT></p>
<p>&nbsp;</p>
<p><FONT size="2" FACE="Arial, Helvetica, sans-serif"> __________________________________________________<br>
  </FONT><FONT size="2" FACE="Arial, Helvetica, sans-serif"> (Name and address
  of transferee) </FONT></p>
<p><FONT size="2" FACE="Arial, Helvetica, sans-serif">___________________________________________________</FONT></p>
<p align="justify"><FONT size="2" FACE="Arial, Helvetica, sans-serif"> ____________________________
  Subscription Receipts registered in the name of the undersigned on the books
  of CGI named on the face of this certificate and represented hereby, and irrevocably
  constitutes and appoints</FONT></p>
<p align="justify"><FONT size="2" FACE="Arial, Helvetica, sans-serif"> ____________________________________
  the attorney of the undersigned to transfer the said securities on the register
  of transfers and books of CGI with full power of substitution hereunder. </FONT></p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="35%"><font size="2" face="Arial, Helvetica, sans-serif"><b>DATED</b>:</font>
    </td>
    <td width="20%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="35%">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="35%">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="35%">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="35%">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="35%">&nbsp;</td>
  </tr>
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">________________________________</font></td>
    <td width="20%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">________________________________</font></td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="35%"><font size="2" face="Arial, Helvetica, sans-serif">(Signature
      of Witness)</font></td>
    <td width="20%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="35%"><font size="2" face="Arial, Helvetica, sans-serif">(Signature
      of Securityholder)</font></td>
  </tr>
</table>
<p><font size="2" face="Arial, Helvetica, sans-serif"></font></p>
<table width="99%" border="0">
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">NOTICE:</font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">The
        signature of this assignment must correspond with the name as written
        upon the face of the certificate, in every particular, without alteration
        or enlargement, or any change whatever, and must be signature guaranteed
        by a Schedule I Chartered Bank, a major Canadian trust company or a member
        of a recognized Medallion Guarantee Program.</font> </div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><font size="2" face="Arial, Helvetica, sans-serif">Signature
      Guaranteed By:</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif"><B>SCHEDULE
  &#147;C&#148;</B></FONT></P>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif"><B>FORM OF
  DIRECTION</B></FONT></P>
<table width="99%" border="0">
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>TO:</b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Computershare
        Trust Company of Canada (the &#147;Escrow Agent&#148;), as registrar and
        transfer agent for the Class A Shares of CGI Group Inc. (&#147;CGI&#148;)</b></font></div></td>
  </tr>
</table>
<p align="justify"><br>
  <FONT size="2" FACE="Arial, Helvetica, sans-serif">This Irrevocable Direction
  is provided pursuant to a Subscription Receipt Agreement (the &#147;<B>Subscription
  Receipt Agreement</B>&#148;) dated March 19, 2004, between CGI, National Bank
  Financial Inc. and Credit Suisse First Boston Canada Inc. (such two being the
  &#147;<B>Underwriters</B>&#148;) and Computershare Trust Company of Canada (the
  &#147;<B>Escrow Agent</B>&#148;). Capitalized terms used and not defined herein
  have the respective meanings ascribed thereto in the Subscription Receipt Agreement.</FONT></p>
<p align="justify"><FONT size="2" FACE="Arial, Helvetica, sans-serif">The Escrow
  Agent is hereby irrevocably directed and authorized to issue and deliver on
  behalf of CGI certificates representing 41,340,625 Class A Shares to the persons
  to whom such Class A Shares are to be issued pursuant to the Exchange Right
  following the satisfaction of the Escrow Release Condition (which occurred on
  &#149;, 2004), all as provided in Section 5.2 of the Subscription Receipt Agreement.
  We hereby confirm that the issue of these Class A Shares has been duly authorized
  by all necessary corporate action and that such Class A Shares are to be issued
  as fully paid and non-assessable shares.</FONT> </p>
<div align="justify">
  <p><font size="2" face="Arial, Helvetica, sans-serif"><strong>DATED</strong>
    the __________ day of __________________________, 2004.</font></p>
  <p>&nbsp;</p>
  <table width="99%" border="0">
    <tr>
      <td width="40%">&nbsp;</td>
      <td width="60%"><p><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif"><b>CGI
          GROUP INC.</b></font></font></p>
        <p>&nbsp;</p>
        <p><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">By:
          ____________________________________</font></font></p></td>
    </tr>
  </table>
  <p><font size="2" face="Arial, Helvetica, sans-serif"></font></p>
</div>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<p><font face="Arial, Helvetica, sans-serif"> </font></p>
<p>&nbsp;</p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">&#151; 2
  &#151;</font> <font face="Arial, Helvetica, sans-serif"> </font></p>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif"><B>SCHEDULE
  &#147;D&#148;<br>
  </B></FONT><font size="2" face="Arial, Helvetica, sans-serif"><B>FORM OF DECLARATION
  FOR REMOVAL OF LEGEND</B></font></P>
<table width="99%" border="0">
  <tr>
    <td width="15%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><font size="2" face="Arial, Helvetica, sans-serif"><strong>TO:</strong></font></font></font></td>
    <td width="85%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Computershare
        Trust Company of Canada, as registrar and transfer agent for</strong></font><strong><font face="Arial, Helvetica, sans-serif"><font size="2"><font face="Arial, Helvetica, sans-serif"><font size="2">
        Subscription Receipts and Class A Shares</font></font></font></font></strong></font></font></div></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>AND
      TO:</b></font></font></font></font></td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="2"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>CGI
      GROUP INC.</b></font></font></font></font></td>
  </tr>
</table>
<p align="justify"><br>
  <FONT size="2" FACE="Arial, Helvetica, sans-serif">The undersigned (a) acknowledges
  that the sale of the securities of CGI Group Inc.(the &#147;<B>Company</B>&#148;)
  to which this declaration relates is being made in reliance on Rule 904 of Regulation
  S under the United States Securities Act of 1933, as amended (the &#147;<B>U.S.
  Securities Act</B>&#148;) and (b) certifies that (1) the undersigned is not
  an affiliate of the Company as that term is defined in the U.S. Securities Act,
  (2) the offer of such securities was not made to a person in the United States
  and either (A) at the time the buy order was originated, the buyer was outside
  the United States, or the seller and any person acting on its behalf reasonably
  believed that the buyer was outside the United States, or (B) the transaction
  was executed in, on or through the facilities of The Toronto Stock Exchange
  or any other designated offshore securities market as defined in Regulation
  S under the U.S. Securities Act and neither the seller nor any person acting
  on its behalf knows that the transaction has been prearranged with a buyer in
  the United States, (3) neither the seller nor any affiliate of the seller nor
  any person acting on any of their behalf has engaged or will engage in any directed
  selling efforts in the United States in connection with the offer and sale of
  such securities, (4) the sale is bona fide and not for the purpose of &#147;washing
  off&#146; the resale restrictions imposed because the securities are &#147;restricted
  securities&#148; (as such term is defined in Rule 144(a)(3) under the U.S. Securities
  Act), (5) the seller does not intend to replace the securities sold in reliance
  on Rule 904 of the U.S. Securities Act with fungible unrestricted securities
  and (6) the contemplated sale is not a transaction, or part of a series of transactions
  which, although in technical compliance with Regulation S, is part of a plan
  or scheme to evade the registration provisions of the U.S. Securities Act. Terms
  used herein have the meanings given to them by Regulation S.</FONT> </p>
<div align="justify">
  <p><br>
  </p>
  <table width="99%" border="1" bordercolor="#333333">
    <tr>
      <td width="47%">&nbsp;</td>
      <td width="6%">&nbsp;</td>
      <td colspan="2">&nbsp;</td>
    </tr>
    <tr>
      <td width="47%"> <div align="center"><font size="2" face="Arial, Helvetica, sans-serif">(Date)
          </font></div></td>
      <td width="6%">&nbsp;</td>
      <td colspan="2"> <div align="center"><font size="2" face="Arial, Helvetica, sans-serif">(Name
          of Seller)</font></div></td>
    </tr>
    <tr>
      <td width="47%">&nbsp;</td>
      <td width="6%">&nbsp;</td>
      <td colspan="2">&nbsp;</td>
    </tr>
    <tr>
      <td width="47%">&nbsp;</td>
      <td width="6%">&nbsp;</td>
      <td width="7%"><font size="2" face="Arial, Helvetica, sans-serif">By: </font></td>
      <td width="40%">&nbsp;</td>
    </tr>
    <tr>
      <td width="47%">&nbsp;</td>
      <td width="6%">&nbsp;</td>
      <td width="7%">&nbsp;</td>
      <td width="40%"><font size="2" face="Arial, Helvetica, sans-serif">Name:<br>
        Title: </font></td>
    </tr>
  </table>
  <p>&nbsp; </p>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
</div>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT"></P>
<P ALIGN="LEFT"></P>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3
<SEQUENCE>4
<FILENAME>exhibit3.htm
<DESCRIPTION>EXHIBIT 3
<TEXT>
<HTML>
<HEAD>
<TITLE>AutoCoded Document</TITLE>
</HEAD>
<BODY>
<P ALIGN="LEFT">&nbsp;</P>
<p>&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="right"><font size="5" face="Arial, Helvetica, sans-serif"><strong>EXHIBIT
  3</strong></font></p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="center"><font size="6"><strong><font face="Arial, Helvetica, sans-serif">
  LETTER</font></strong></font></p>
<p align="center"><strong><font size="6"><strong><font face="Arial, Helvetica, sans-serif">AGREEMENT</font></strong></font></strong></p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<HR color=gray noShade SIZE=3>
<P ALIGN="LEFT">&nbsp;</P>
<p align="center"><font size="3" face="Arial, Helvetica, sans-serif">C</font><font size="2" face="Arial, Helvetica, sans-serif">ONTRACTUAL
  <font size="3">S</font>TANDSTILL </font></p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="6%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">To:</font></td>
    <td width="2%">&nbsp;</td>
    <td width="92%"><font size="2" face="Arial, Helvetica, sans-serif">National
      Bank Financial Inc.<br>
      Credit Suisse First Boston Canada Inc. </font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(the <strong>"Underwriters"</strong>)
      </font></td>
  </tr>
</table>
<p align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Reference
  is made to the underwriting agreement entered into between CGI Group Inc. (the
  <strong>"Company"</strong>) and the Underwriters as of March 10, 2004 relating
  to an offering of Class A Subordinate Shares (the <strong>"Class A Shares"</strong>)
  of the Company (the <strong>"Underwriting Agreement"</strong>). The present
  is to confirm the respective agreement of each of (a) BCE Inc., for itself and
  on behalf of 3588513 Canada Inc. (a wholly-owned subsidiary of BCE Inc.) and
  any other affiliate of BCE Inc. holding an equity interest in the Company (collectively
  <strong>"BCE"</strong>) and (b) Messrs. Serge Godin, Andre Imbeau and Jean Brassard,
  9058-0705 Quebec Inc., 9061-9354 Quebec Inc., 9065-4476 Quebec Inc., 3727912
  Canada Inc., 9012-7003 Quebec Inc. and any other entity controlled by any of
  them (collectively, the <strong>"Majority Shareholders"</strong>) with respect
  to the Class A Shares and Class B Shares (Multiple Voting) (the <strong>"Class
  B Shares"</strong>) owned by BCE and the Majority Shareholders.</font></p>
<P ALIGN="justify"><FONT size="2" FACE="Arial, Helvetica, sans-serif">BCE agrees
  for itself (and not on behalf of the Majority Shareholders) that it will not,
  and the Majority Shareholders agree for themselves (and not on behalf of BCE)
  that they will not, from the date hereof until 120 days after the Closing Date
  (as defined in the Underwriting Agreement), directly or indirectly, sell, agree
  or offer to sell, grant any option for the sale of, pledge, or otherwise dispose
  of, or request that the Company file any registration statement or prospectus
  relating to the sale of, any Class A Shares, Subscription Receipts (as defined
  in the Underwriting Agreement), Class B Shares or other securities convertible
  or exchangeable into Class A Shares they own, or publicly disclose any such
  intention to do any of the foregoing without the prior written consent of the
  Underwriters which consent shall not be unreasonably withheld or delayed. The
  foregoing prohibition shall not apply to transfers of (A) Class A Shares acquired
  upon exercise of options granted pursuant to the Company&#146;s share option
  plan or (B) Class A Shares and Class B Shares or such other rights or securities
  (y) among BCE Inc. and any of its direct or indirect wholly-owned subsidiaries,
  or among any of such wholly-owned subsidiaries and (z) among the Majority Shareholders
  or affiliates thereof.</FONT> </P>
<div align="justify">
  <p><font size="2" face="Arial, Helvetica, sans-serif">Signed and Dated in Montreal,
    Quebec, this 10<SUP>th</SUP> day of March, 2004. </font></p>
  <p>&nbsp;</p>
  <table width="50%" border="0">
    <tr>
      <td width="49%"><strong><font size="2" face="Arial, Helvetica, sans-serif">BCE
        Inc.</font></strong></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Bill Anderson</font></td>
    </tr>
    <tr>
      <td valign="bottom">
<hr noshade color="Black" size="1">
      </td>
    </tr>
    <tr>
      <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">By:
        Bill Anderson</font></td>
    </tr>
  </table>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
  <hr noshade color="Black" size="2">
  <p>&nbsp;</p>
  <p align="center"><font size="2" face="Arial, Helvetica, sans-serif"> - 2 -
    </font> </p>
</div>
<P ALIGN="justify"><FONT SIZE="2" face="Arial, Helvetica, sans-serif"></FONT></P>
<table width="99%" border="0">
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Serge Godin</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Andr&eacute;
      Imbeau</font></td>
  </tr>
  <tr valign="bottom">
    <td valign="bottom"> <hr size="1" noshade color="Black"> </td>
    <td width="7%">&nbsp;</td>
    <td> <hr size="1" noshade color="Black"></td>
  </tr>
  <tr valign="top">
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>Serge
      Godin </b></font></font></font></td>
    <td width="7%">&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>Andr&eacute;
      Imbeau</b></font></font></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td width="7%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td width="7%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>9061-9354
      Qu&eacute;bec Inc.</b></font></font></font></td>
    <td width="7%">&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>9058-0705
      Qu&eacute;bec Inc.</b></font></font></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Andr&eacute;
      Imbeau</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Serge Godin</font></td>
  </tr>
  <tr valign="bottom">
    <td height="22"> <hr noshade color="Black" size="1"></td>
    <td>&nbsp;</td>
    <td> <hr noshade color="Black" size="1"></td>
  </tr>
  <tr valign="top">
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:
      Andr&eacute; Imbeau</font></font></font></td>
    <td>&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:
      Serge Godin</font></font></font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>9065-4476
      Qu&eacute;bec Inc.</b></font></font></font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Jean Brassard</font></td>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Jean Brassard</font></td>
  </tr>
  <tr valign="top">
    <td><hr noshade color="Black" size="1"></td>
    <td>&nbsp;</td>
    <td><hr noshade color="Black" size="1"></td>
  </tr>
  <tr valign="top">
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">Jean
      Brassard </font></font></font></td>
    <td>&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By
      : Jean Brassard</font></font></font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">
      <div align="justify"><b>3727912 Canada Inc.</b></div>
      </font></font></font></td>
    <td>&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>9102-7003
      Qu&eacute;bec Inc.</b></font></font></font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Serge Godin</font></td>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Andr&eacute;
      Imbeau</font></td>
  </tr>
  <tr valign="bottom">
    <td> <hr noshade color="Black" size="1"> <font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>
      </b></font></font></font></td>
    <td>&nbsp;</td>
    <td> <hr noshade color="Black" size="1"></td>
  </tr>
  <tr valign="top">
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:
      Serge Godin</font></font></font></td>
    <td>&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:
      Andr&eacute; Imbeau</font></font></font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<font face="Arial, Helvetica, sans-serif">
<P align="justify"><font size="1"><font size="2"></font></font></P>
<font size="1"><font size="2"></font></font></font>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4
<SEQUENCE>5
<FILENAME>exhibit4.htm
<DESCRIPTION>EXHIBIT 4
<TEXT>
<HTML>
<HEAD>
<TITLE>AutoCoded Document</TITLE>
</HEAD>
<BODY>
<p>&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="right"><font size="5" face="Arial, Helvetica, sans-serif"><strong>EXHIBIT
  4 </strong></font></p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="center"><font size="6"><strong><font face="Arial, Helvetica, sans-serif">AGREEMENT
  BETWEEN</font></strong></font></p>
<p align="center"><strong><font size="6" face="Arial, Helvetica, sans-serif">BCE
  INC.,</font></strong></p>
<p align="center"><strong><font size="6" face="Arial, Helvetica, sans-serif">3588513
  CANADA INC.</font></strong></p>
<p align="center"><strong><font size="6" face="Arial, Helvetica, sans-serif">AND</font></strong></p>
<p align="center"><strong><font size="6" face="Arial, Helvetica, sans-serif">CGI
  GROUP INC.</font></strong></p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<HR color=gray noShade SIZE=3>
<p>&nbsp;</p>
<p align="justify"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B><font face="Arial, Helvetica, sans-serif">AGREEMENT
  </font></B><font face="Arial, Helvetica, sans-serif">made on July 24, 2003 in
  the City of Montreal, Province of Quebec. </font></FONT></FONT></p>
<table width="99%" border="0">
  <tr>
    <td width="28%" valign="top"><font face="Times New Roman, Times, Serif"><font size="2"><font face="Arial, Helvetica, sans-serif"><b>BETWEEN:</b></font></font></font></td>
    <td width="72%" valign="top"><div align="justify"><font face="Times New Roman, Times, Serif"><font size="2"><font face="Arial, Helvetica, sans-serif"><b>BCE
        INC.</b>, a corporation duly constituted under the laws of Canada (&#147;<b>BCE</b>&#148;);
        <b> </b></font></font></font></div></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top"><div align="justify"></div></td>
  </tr>
  <tr>
    <td valign="top"><font face="Times New Roman, Times, Serif"><font size="2"><font face="Arial, Helvetica, sans-serif"><b>AND:</b></font></font></font></td>
    <td valign="top"><div align="justify"><font face="Times New Roman, Times, Serif"><font size="2"><font face="Arial, Helvetica, sans-serif"><b>3588513
        CANADA INC.</b>, a corporation duly constituted under the laws of Canada
        (&#147;<b>Subco</b>&#148;); </font></font></font></div></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td valign="top"><font face="Times New Roman, Times, Serif"><font size="2"><font face="Arial, Helvetica, sans-serif"><b>AND:</b></font></font></font></td>
    <td valign="top"><div align="justify"><font face="Times New Roman, Times, Serif"><font size="2"><font face="Arial, Helvetica, sans-serif"><b>CGI
        GROUP INC.</b>, a company duly constituted under the laws of Quebec (&#147;<b>CGI</b>&#148;).</font></font></font>
        <font face="Arial, Helvetica, sans-serif"> </font></div></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
</table>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>WHEREAS
  </B>BCE, CGI and certain other parties are parties to the Options Agreement
  and Shareholders&#146; Agreement, the Registration Rights Agreement and the
  Deposit Agreement and Related Agreements; </FONT></FONT></p>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>WHEREAS
  </B>the parties to the Options Agreement and Shareholders&#146; Agreement and
  the parties to the Deposit Agreement and Related Agreements will, upon execution
  of this Agreement, terminate such agreements; </FONT></FONT></p>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>WHEREAS
  </B>BCE and CGI wish to replace the Options Agreement and Shareholders&#146;
  Agreement with this Agreement and to continue in effect the Registration Rights
  Agreement; </FONT></FONT></p>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>WHEREAS</B>,
  immediately prior to the execution of this agreement, BCE and Subco own in the
  aggregate 7,027,606 Class B Shares and 113,000,794 Class A Shares; </FONT></FONT></p>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>WHEREAS
  </B>BCE, Subco and CGI wish to establish certain rights and obligations in respect
  of the shares held by BCE and Subco in the share capital of CGI and in respect
  of certain other matters as hereinafter set forth; and </FONT></FONT></p>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>WHEREAS
  </B>all capitalized terms herein shall have the meaning ascribed thereto in
  Section 8 hereof; </FONT></FONT></p>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>NOW
  THEREFORE</B>, the parties hereto hereby agree as follows:</FONT></FONT></p>
<table width="99%" border="0">
  <tr>
    <td width="7%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>1.</b></font></font></td>
    <td colspan="5"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>SALE
      AND TRANSFER OF EQUITY SHARES</b></font></font></td>
  </tr>
  <tr>
    <td colspan="6" valign="top"><div align="left"></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">1.1</font></font></div></td>
    <td colspan="5" valign="top"> <div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">During
        the term of this Agreement, BCE (for its own account and on behalf of
        any of its Wholly-Owned Subsidiaries, including Subco, holding Equity
        Shares) undertakes not to (i) sell or transfer, directly or indirectly,
        any Equity Shares or any rights or securities convertible into or exercisable
        or exchangeable for Equity Shares, or (ii) enter into a Monetization,
        or (iii) announce its intention to do any of the transactions contemplated
        in the foregoing clauses (i) and (ii):</font></font></div></td>
  </tr>
  <tr>
    <td colspan="6" valign="top"><div align="left"></div></td>
  </tr>
  <tr>
    <td width="5%" valign="top">
<div align="left"></div></td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">1.1.1</font></font></td>
    <td width="84%" colspan="3"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">during
        the period starting 30 days prior to and ending 90 days after the effective
        date of CGI&#146;s most recent registration statement or prospectus</font></font></div></td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> -
  2 -</FONT></FONT></p>
<p align="center">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td width="84%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">covering
        securities of the same class and series as the Equity Shares covered by
        the restriction in Section 1.1 above;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">1.1.2</font></font></div></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">if
        CGI Board, in its good faith judgement determines, and BCE, acting reasonably,
        agrees that such transaction would have a material adverse effect on any
        material financing, acquisition, corporate reorganization or merger involving
        CGI that has already been approved by CGI Board; or </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">1.1.3</font></font></div></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">if
        any such transaction would not be concluded in an orderly manner. </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">1.2</font></font></div></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        provisions of Section </font><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="2">1.1
        shall not apply to (i) the tender of Equity Shares under a Take-over Bid
        for such class of Equity Shares or (ii) the sale or transfer of Equity
        Shares by BCE to any of its Wholly-Owned Subsidiaries, or by any Wholly-Owned
        Subsidiary of BCE to BCE or to another Wholly-Owned Subsidiary of BCE,
        so long as BCE causes such Wholly-Owned Subsidiary to whom Equity Shares
        are transferred to expressly agree in writing to be bound by the terms
        of this Agreement.</font></font></font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td colspan="2" valign="top"><div align="left"></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="2">1.3</font></font></font></div></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="2">To
        the extent that and for so long as Equity Shares are held by any Wholly-Owned
        Subsidiaries of BCE, BCE shall ensure that they remain its Wholly-Owned
        Subsidiaries.</font></font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td colspan="2" valign="top"><div align="left"></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="2">1.4</font></font></font></div></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="2">BCE,
        Bell and CGI are parties to the Registration Rights Agreement and the
        parties agree that the Registration Rights Agreement shall remain in effect
        without modification except to the extent, if any, th</font></font><font size="2">at
        an exercise of rights thereunder by BCE or any of its Wholly-Owned Subsidiaries
        holding Equity Shares would, at such time of exercise, be inconsistent
        with the provisions of Section 1.1.1. </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td colspan="2" valign="top"><div align="left"></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">1.5</font></font></div></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        BCE undertakes that (i) on January 5, 2004, BCE, Bell and any of their
        Wholly- Owned Subsidiaries will hold in the aggregate less than thirty
        percent (30%) of the then outstanding Equity Shares, and that (ii) from
        the date hereof until January 6, 2004, none of BCE, Bell or any of their
        respective Wholly-Owned Subsidiaries will acquire any additional Equity
        Shares if as a result of any such acquisitions BCE, Bell and any of their
        respective Wholly-Owned Subsidiaries would hold in the aggregate thirty
        percent (30%) or more of the then outstanding Equity Shares; <u>provided
        that</u> for the avoidance of doubt, nothing in this Section 1.5 is intended
        to restrict or limit BCE and any of its Wholly-Owned Subsidiaries from
        exercising in full their Pre-emptive Right contained in Article 4 hereof
        if CGI Issues any Equity Shares or Convertible Securities after the date
        hereof and prior to January 6, 2004.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td colspan="2" valign="top"><div align="left"></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">1.6</font></font></div></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">CGI
        undertakes that, from the date hereof until January 6, 2004, it will not
        take any action that would reasonably be expected to cause or result in
        BCE, Bell and any of their respective Wholly-Owned Subsidiaries holding
        on January 5, 2004 in the aggregate thirty percent (30%) or more of the
        outstanding Equity Shares on January 5, 2004. </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td colspan="2" valign="top"><div align="left"></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">1.7</font></font></div></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">BCE
        shall, on January 2, 2004, no later than noon (Montreal time), give to
        CGI a notice indicating the aggregate number of Equity Shares then held
        by BCE, Bell</font></font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<hr noshade color="Black" size="2">
<p>&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> -
  3 -</FONT></FONT></p>
<p align="center">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td colspan="2" valign="top"> <div align="left"><font face="Arial, Helvetica, sans-serif"></font></div>
      <div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">and
        any of their Wholly-Owned Subsidiaries. Should such number be thirty percent
        (30%) or more of the then outstanding Equity Shares, BCE undertakes to
        dispose or cause any of its Wholly-Owned Subsidiaries holding Equity Shares
        to immediately dispose of such number of Equity Shares such that BCE complies
        with its undertaking contained in Section 1.5. The restrictions contained
        in Section 1.1 shall not apply to any disposition contemplated in this
        Section 1.5. </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td colspan="2" valign="top"> <div align="left"></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">1.8</font></font></div></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">
        BCE shall, and shall cause Subco to, promptly following the execution
        of this Agreement by all parties hereto, give to CGI (or its transfer
        agent) a request to convert all of the Class B Shares held by them at
        the date hereof into Class A Shares on a one-for-one basis as permitted
        by 3.4.16 of Annex I to the Articles of Amendment of CGI attached to the
        Certificate of Amendment dated November 25, 1986 issued to CGI.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="84%">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>2.</b></font></font></div></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>ELECTION
      ON CGI BOARD AND ON COMMITTEES THEREOF</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">
      <div align="left"></div></td>
    <td width="5%" valign="top"> <div align="left"></div></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">2.1</font></font></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">BCE
      shall be entitled to the following representation on CGI Board:</font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">2.1.1</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">one
        nominee designated by BCE (a &#147;<b>BCE Nominee</b>&#148;) so long as
        the IS/IT Agreement is In Effect; or </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">2.1.2</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">two
        BCE Nominees so long as (i) the IS/IT Agreement is In Effect and (ii)
        the BCE Equity Position is of at least ten percent (10%); or </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">2.1.3</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">that
        number of BCE Nominees as shall represent twenty-five percent (25%) (rounded
        up in the case of a fraction which is greater than one half) of the total
        number of directors on CGI Board so long as the BCE Equity Position is
        of at least twenty percent (20%); BCE agrees that one of such BCE Nominees
        shall be the Chief Executive Officer of BCE (<u>provided</u> that this
        Section 2.1.3 shall not restrict or limit in any way BCE&#146;s right
        or ability to elect or cause the election of any greater number of members
        of CGI Board based on the voting power of Equity Shares held by BCE and
        any of its Wholly-Owned Subsidiaries from time to time).</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">2.2</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">BCE&#146;s
        Nominees shall be entitled to the following representation on committees
        of CGI Board: </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">2.2.1</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">one
        BCE Nominee to the Human Resources Committee (or any other committee of
        CGI Board responsible for advising CGI Board on the appointment and remuneration
        of the Senior Executives (as defined in the <i>Securities Act </i>(Quebec))
        of CGI), so long as the BCE Equity Position is of at least ten percent
        (10%); or </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">2.2.2</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">one
        BCE Nominee to the Human Resources Committee (or any other committee of
        CGI Board responsible for advising CGI Board on the appointment and remuneration
        of the Senior Executives (as defined in the <i>Securities Act </i>(Quebec))
        of CGI), and one BCE Nominee to the </font></font></div></td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 4
  -</FONT></FONT></p>
<p align="center">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="84%" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Corporate
        Governance Committee (who shall be the same as the one appointed to the
        Human Resources Committee), so long as the BCE Equity Position is of at
        least twenty percent (20%).</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">2.3</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">CGI
        shall, promptly following the execution of this Agreement by all parties
        hereto, cause the Human Resources Committee of CGI Board to review the
        matter of non-compete covenants in favour of CGI by Senior Executives
        (as defined in the <i>Securities Act </i>(Quebec)) of CGI.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">2.4</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">CGI
        shall ensure that the Audit Committee of CGI Board reviews all &#147;related
        party transactions&#148; (as defined in Policy Statement No. Q-27 of the
        <i>Commission des valeurs mobili&egrave;res du Qu&eacute;bec</i>). </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">2.5</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">BCE
        undertakes to, and will ensure that any of its Wholly-Owned Subsidiaries
        holding Equity Shares shall, exercise the voting rights attached to such
        Equity Shares at each CGI shareholders meeting at which directors are
        presented for election in favour of the election of each of Mr. Serge
        Godin, Mr. Andr&eacute; Imbeau and Mr. Jean Brassard as a director of
        CGI, to the extent that each of them is (i) proposed as a candidate for
        election as a director by CGI Board, (ii) still, at the time of the vote,
        a Senior Executive (as defined in the <i>Securities Act </i>(Quebec))
        or officer of CGI, and (iii) able, under applicable law, to act as a director.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>3.</b></font></font></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>CONDUCT
      OF BUSINESS </b></font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">3.1</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">From
        the date hereof until the date on which the BCE Equity Position is less
        than twenty percent (20%), CGI shall not take any proposed actions pertaining
        to the conduct of its business as set forth in Schedule 3.1 (each, a &#147;<b>Proposed
        Action</b>&#148;) without the prior written consent of BCE (the &#147;<b>BCE
        Consent Right</b>&#148;).</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">3.2</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Notwithstanding
        the right of BCE to ultimately withhold its consent to any Proposed Actions
        pursuant to the BCE Consent Right, BCE recognizes that CGI is subject
        to corporate governance principles and processes established by internal
        policy and/or by law and regulation, and that in considering any Proposed
        Actions, CGI Board, and any committee thereof, as applicable, is in no
        way restricted or limited in performing its functions in accordance with
        the customary practices and processes of CGI Board, and any committee
        thereof, as applicable, or in the discharge of its or their fiduciary
        obligations to act in the best interests of CGI and all of its shareholders.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">3.3</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">CGI
        agrees to provide to BCE a copy of all information, materials, analyses
        and related documentation in connection with any Proposed Action that
        is provided to CGI Board or any committee thereof, as applicable (the
        &#147;<b>Board Materials</b>&#148;), and shall deliver such Board Materials
        to BCE not later than the date on which such Board Materials are delivered
        to CGI Board or any committee thereof, as applicable. In addition, CGI
        shall use its reasonable efforts to provide to BCE any additional information,
        materials, analyses and other documentation as BCE may reasonably request
        and which CGI may reasonably be capable of obtaining or</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> -
  5 -</FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">creating,
        in order to assist BCE in its determination of whether to consent to the
        subject Proposed Action, or to withhold its consent with respect to the
        subject Proposed Action, pursuant to the BCE Consent Right. Any Board
        Materials to be provided to BCE pursuant to this Section 3.3 shall be
        delivered to the attention of the Chief Legal Officer of BCE and shall
        be treated by BCE as confidential information and shall be communicated
        by the Chief Legal Officer of BCE to the Chief Executive Officer of BCE
        and only to such other persons who, in the opinion of the Chief Legal
        Officer of BCE, have a need to know such information for purposes of assisting
        BCE in its decision making process in connection with the BCE Consent
        Right.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>4.</b></font></font></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>PRE-EMPTIVE
      RIGHTS</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.1</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">So
        long as (i) the BCE Equity Position is of at least twenty percent (20%)
        and (ii) the IS/IT Agreement is In Effect, CGI shall not, without the
        prior written consent of BCE, issue any Equity Shares or any other securities
        convertible into Equity Shares or entitling the holder thereof to acquire
        Equity Shares (the &#147;<b>Convertible Securities</b>&#148;) (the &#147;<b>Issue</b>&#148;),
        without also concurrently offering to BCE (and any of its Wholly-Owned
        Subsidiary holding Equity Shares) the right to subscribe to additional
        securities (the &#147;<b>Pre-emptive Right</b>&#148;) as follows:</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.1.1</font></font></td>
    <td width="89%" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">in
        the case of an Issue of Class A Shares, such number of Class A Shares,
        such that the ratio, after the Issue, assuming the full exercise of the
        Pre-emptive Right, of (i) the aggregate number of Equity Shares held by
        BCE and any of its Wholly-Owned Subsidiaries and of Equity Shares into
        which Convertible Securities held by BCE and any of its Wholly-Owned Subsidiaries
        are convertible, to (ii) the aggregate number of outstanding Equity Shares
        and Equity Shares into which Convertible Securities are convertible, shall
        be the same as the corresponding ratio before the Issue. The cash consideration
        to be paid for each such Class A Share subscribed to under the Pre-Emptive
        Right shall be equal to the issue price (without taking into account any
        underwriters discount, if any) for each Class A Share pursuant to the
        Issue;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.1.2</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">in
        the case of an Issue of Convertible Securities which are convertible into
        Class A Shares, such number of securities (the &#147;<b>Offered Class
        A Convertible Securities</b>&#148;) convertible into Class A Shares such
        that the ratio, after the Issue, assuming the full exercise of the Pre-emptive
        Right, of (i) the aggregate number of Equity Shares held by BCE and any
        of its Wholly-Owned Subsidiaries and of Equity Shares underlying Convertible
        Securities held by BCE and any of its Wholly-Owned Subsidiaries, to (ii)
        the aggregate number of outstanding Equity Shares and of Equity Shares
        underlying Convertible Securities, shall be the same as the corresponding
        ratio before the Issue. The cash consideration to be paid for the Offered
        Class A Convertible Securities subscribed to under the Pre-emptive Right
        shall be such that the issue price for a</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>
  </B> </FONT></FONT></p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 6
  - </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="90%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">Class
      A Share underlying an Offered Class A Convertible Security shall be equal
      to the issue price (without taking into account any underwriters discount,
      if any) for each Class A Share underlying the Convertible Security; </font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.1.3</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">in
        the case of an Issue of Equity Shares of a class other than Class A Shares
        (but excluding Class B Shares issued pursuant to the pre-emptive rights
        of holders of Class B Shares under the Articles of CGI) (&#147;<b>Other
        Equity Shares</b>&#148;), such number of Other Equity Shares (or, in the
        case of an Issue of Class B Shares, such number of Class A Shares), such
        that the ratio, after the Issue, assuming the full exercise of the Pre-emptive
        Right, of (i) the aggregate number of Equity Shares held by BCE and any
        of its Wholly-Owned Subsidiaries and of Equity Shares into which Convertible
        Securities held by BCE and any of its Wholly-Owned Subsidiaries are convertible,
        to (ii) the aggregate number of outstanding Equity Shares and Equity Shares
        into which Convertible Securities are convertible, shall be the same as
        the corresponding ratio before the Issue. The cash consideration to be
        paid for each such Other Equity Share or Class A Share, as the case may
        be, subscribed to under the Pre-emptive Right shall be equal to the issue
        price (without taking into account any underwriters discount, if any)
        for each Other Equity Share or Class A Share, as the case may be, pursuant
        to the Issue;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.1.4</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">in
        the case of an Issue of Class B Shares pursuant to the pre-emptive rights
        of holders of Class B Shares under the Articles of CGI that would reduce
        the BCE Equity Position to below twenty percent (20%), such number of
        Class A Shares, such that the ratio, after the Issue, assuming the full
        exercise of the Pre-emptive Right, of (i) the aggregate number of Equity
        Shares held by BCE and any of its Wholly-Owned Subsidiaries and of Equity
        Shares into which Convertible Securities held by BCE and any of its Wholly-Owned
        Subsidiaries are convertible, to (ii) the aggregate number of outstanding
        Equity Shares and Equity Shares into which Convertible Securities are
        convertible, shall be the same as the corresponding ratio before the issue.
        The cash consideration to be paid for each such Class A Share subscribed
        to under the Pre-emptive Right shall be equal to the issue price (without
        taking into account any underwriters discount, if any) for each Class
        B Share pursuant to the Issue;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.1.5</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">in
        the case of an Issue of Convertible Securities which are convertible into
        Other Equity Shares, such number of securities (the &#147;<b>Offered Other
        Equity Convertible Securities</b>&#148;) convertible into Other Equity
        Shares such that the ratio, after the Issue, assuming the full exercise
        of the Pre-emptive Right, of (i) the aggregate number of Equity Shares
        held by BCE and any of its Wholly-Owned Subsidiaries and of Equity Shares
        underlying Convertible Securities held by BCE and any of its Wholly-Owned
        Subsidiaries, to (ii) the aggregate number of outstanding</font></font></div></td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 7
  - </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Equity
        Shares and of Equity Shares underlying Convertible Securities, shall be
        the same as the corresponding ratio before the Issue. The cash consideration
        to be paid for the Offered Other Equity Convertible Securities subscribed
        to under the Pre-emptive Right shall be such that the issue price for
        an Other Equity Share underlying an Offered Other Equity Convertible Security
        shall be equal to the issue price (without taking into account any underwriters
        discount, if any) for each Other Equity Share underlying the Convertible
        Security.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.2</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        rights to subscribe for Equity Shares or Convertible Securities pursuant
        to Section 4.1 shall not apply in the event of the issuance of Equity
        Shares: </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.2.1</font></font></td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">in
      payment of stock dividends; </font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.2.2</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">subject
        to the provisions of Section 4.5, to directors, officers or employees
        of CGI or its Affiliates upon exercise of rights granted pursuant to the
        CGI stock option plan;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.2.3</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">further
        to the conversion of Class B Shares into Class A Shares pursuant to 3.4.16
        of Annex I to the Articles of Amendment of CGI attached to the Certificate
        of Amendment dated November 25, 1986 issued to CGI or further to the conversion
        of Class A Shares into Class B Shares pursuant to 3.4.2 of such Annex,
        or further to the conversion of Class B Shares into Class A Shares pursuant
        to the equivalent corresponding provisions of any subsequent Articles
        of Amendment of CGI, if any; or </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.2.4</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">further
        to the exercise of rights of conversion, exchange or acquisition of shares
        attached to Convertible Securities.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.3</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">To
        allow for the exercise of the Pre-emptive Right, the Secretary of CGI
        shall give to BCE written notice not less than ten (10) Business Days
        before the proposed Issue, indicating the number and class of Equity Shares
        or Convertible Securities to which BCE (and any of its Wholly-Owned Subsidiaries
        holding Equity Shares) is entitled to subscribe and the price, terms and
        conditions of such subscription.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.4</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Subject
        to the provisions of Section 4.7, the Pre-emptive Right shall be exercised
        by BCE (and any of its Wholly-Owned Subsidiaries holding Equity Shares)
        at the time of closing of the Issue, failing which it shall be deemed
        to have waived its Pre-emptive Right with respect to such Issue. BCE (and
        any of its Wholly-Owned Subsidiaries holding Equity Shares) may subscribe
        for fewer than the total number of Equity Shares or Convertible Securities
        to which they are entitled according to the provisions of Section 4.1.
        </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.5</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Notwithstanding
        the provisions of Section 4.2.2, if the issuance of Equity Shares to directors,
        officers or employees of CGI or its Affiliates upon exercise of rights
        granted pursuant to the CGI stock option plan, would reduce (or has reduced)
        the BCE Equity Position to below twenty percent (20%), CGI shall immediately
        provide to BCE written notice of such event. BCE may, within thirty (30)
        days</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> -
  8 - </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">after
        its receipt of such notice from CGI, elect (by written notice to CGI)
        to subscribe (directly, or through any of its Wholly-Owned Subsidiaries)
        to such number of Class A Shares as are necessary to allow BCE to maintain,
        immediately after such subscription, the same BCE Equity Position as the
        BCE Equity Position immediately prior to such issuance. CGI shall, upon
        receipt of written notice from BCE electing to subscribe to additional
        Class A Shares under this Section 4.5, promptly issue such additional
        Class A Shares to BCE (or any Wholly-Owned Subsidiary of BCE specified
        by BCE). For purposes of clarity, the parties expressly agree that if
        BCE has provided timely notice to CGI that it elects to subscribe (directly
        or indirectly) to additional Class A Shares pursuant to this Section 4.5,
        then at all times from the date (if any) the BCE Equity Position has been
        reduced to less than twenty percent (20%) as a result of exercises of
        rights granted pursuant to the CGI stock option plan and until the date
        of issuance by CGI of such additional Class A Shares as provided in this
        Section 4.5 pursuant to such notice of election by BCE, BCE shall retain
        without interruption all rights of BCE hereunder which are predicated
        on the BCE Equity Position being of at least twenty percent (20%). The
        consideration to be paid for each such Class A Share pursuant to this
        Section 4.5 shall be the Average Market Price for the twenty (20) trading
        days immediately preceding the issuance of such Class A Shares under this
        Section 4.5.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.6</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">All
        Equity Shares or Convertible Securities subscribed for by BCE (or any
        of its Wholly-Owned Subsidiary) in accordance with the foregoing provisions
        of this Article 4 shall be fully paid and non assessable upon their issue
        by CGI and, upon receipt of a cheque made to the order of CGI covering
        the total subscription price, CGI shall remit to BCE a certificate representing
        the subject Equity Shares or Convertible Securities (as the case may be)
        thus subscribed, which shall then be registered in its name in CGI&#146;s
        registers. </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.7
      </font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Should
        BCE (and any of its Wholly-Owned Subsidiary holding Equity Shares at the
        time of an Issue) not exercise its Pre-emptive Right to acquire Convertible
        Securities at the time of closing of the Issue, BCE (and any of its Wholly-Owned
        Subsidiaries holding Equity Shares at the time of an Issue) shall, at
        the time and to the extent of the exercise of the conversion or acquisition
        rights attached to the Convertible Securities issued at the closing of
        the Issue, be entitled to subscribe to such number of Class A Shares or,
        as the case may be, Other Equity Shares as are necessary to allow BCE
        to maintain, immediately after such subscription, the same BCE Equity
        Position as the BCE Equity Position immediately prior to the exercise
        of the above-mentioned conversion or acquisition rights. CGI shall immediately
        provide to BCE written notice of such exercise of the above-mentioned
        conversion or acquisition rights. BCE may, within thirty (30) days after
        its receipt of such notice from CGI, elect (by written notice to CGI)
        to subscribe (directly, or through any of its Wholly-Owned Subsidiaries)
        to such number of Class A Shares or, as the case may be, Other Equity
        Shares, as aforesaid. CGI shall, upon receipt of written notice from BCE
        electing to subscribe to additional Class A Shares or, as the case may
        be, Other Equity Shares under this Section 4.7, promptly issue such additional
        Class A Shares or, as the case may be, Other Equity Shares to BCE (or</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> -
  9 -</FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">any
        Wholly-Owned Subsidiary of BCE specified by BCE). For purposes of clarity,
        the parties expressly agree that if BCE has provided timely notice to
        CGI that it elects to subscribe (directly or indirectly) to additional
        Class A Shares or, as the case may be, Other Equity Shares pursuant to
        this Section 4.7, then at all times from the date (if any) the BCE Equity
        Position has been reduced to less than twenty percent (20%) as a result
        of exercises of the above-mentioned conversion or acquisition rights and
        until the date of issuance by CGI of such additional Class A Shares or,
        as the case may be, Other Equity Shares, as provided in this Section 4.7
        pursuant to such notice of election by BCE, BCE shall retain without interruption
        all rights of BCE hereunder which are predicated on the BCE Equity Position
        being of at least twenty percent (20%). The consideration to be paid for
        each Class A Share or, as the case may be, each Other Equity Share pursuant
        to this Section 4.7 shall be the Average Market Price for the twenty (20)
        trading days immediately preceding the issuance of such Class A Shares
        or, as the case may be, each Other Equity Shares under this Section 4.7,
        <u>provided that</u>, in the case of an issuance of Other Equity Shares
        under this Section 4.7, the consideration to be paid for such Other Equity
        Shares may be subject to adjustment as may be (a) required by applicable
        exchanges in connection with the conversion terms (including price) of
        the Convertible Securities under which such Convertible Securities were
        converted and subject to agreement by BCE, acting reasonably, or (b) mutually
        agreed by CGI and BCE, each acting reasonably, in the event such Other
        Equity Shares are not then listed on an exchange.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.8</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        provisions of Sections 4.1, 4.5 and 4.7 and the exercise of the Pre-emptive
        Right shall be subject to (i) all applicable securities laws and applicable
        rules of the exchanges to which CGI is subject, and (ii) any exemptions
        and consents obtained from such exchanges.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>5.</b></font></font></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>REPRESENTATIONS
      AND WARRANTIES</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">5.1</font></font></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">CGI
      represents and warrants to BCE as of the date hereof that:</font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">5.1.1</font></font></td>
    <td width="85%" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">CGI
        has full power and authority to execute and deliver this Agreement and
        to consummate the transactions contemplated herein and has been duly authorized
        to do so; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">5.1.2</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">this
        Agreement is a legal, valid and binding agreement enforceable in accordance
        with its terms against CGI, subject however, to limitations with respect
        to enforcement imposed by law in connection with bankruptcy or similar
        proceedings affecting creditors&#146; rights generally and to the extent
        that equitable remedies such as specific performance and injunction are
        in the discretion of the court from which they are sought;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">5.1.3</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">there
        are no legal proceedings pending or threatened or, to the best of the
        knowledge of CGI, any circumstances which may reasonably be expected to
        give rise to such proceedings and there are no agreements,</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> -
  10 -</FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="89%" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="2">written
        or oral, to which CGI is a party which in any way might interfere with
        the consummation of any of the transactions contemplated in this Agreement;
        and</font></font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">5.1.4</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">neither
        the entering into of this Agreement nor the consummation of any of the
        transactions contemplated hereby will result in the violation of any of
        the terms or provisions of the constating documents or by-laws of CGI.
        </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">5.2</font></font></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">BCE
      represents and warrants to CGI as of the date hereof that:</font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">5.2.1</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">BCE
        has full power and authority to execute and deliver this Agreement and
        to consummate the transactions contemplated herein and has been duly authorized
        to do so; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">5.2.2</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">this
        Agreement is a legal, valid and binding agreement enforceable in accordance
        with its terms against BCE, subject however, to limitations with respect
        to enforcement imposed by law in connection with bankruptcy or similar
        proceedings affecting creditors&#146; rights generally and to the extent
        that equitable remedies such as specific performance and injunction are
        in the discretion of the court from which they are sought; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">5.2.3</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">there
        are no legal proceedings pending or threatened or, to the best of the
        knowledge of BCE, any circumstances which may reasonably be expected to
        give rise to such proceedings and there are no agreements, written or
        oral, to which BCE is a party which in any way might interfere with the
        consummation of any of the transactions contemplated in this Agreement;
        and </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">5.2.4</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">neither
        the entering into of this Agreement nor the consummation of any of the
        transactions contemplated hereby will result in the violation of any of
        the terms or provisions of the constating documents or by-laws of BCE.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="8%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>6.</b></font></font></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>TERMINATION
      OF THIS AGREEMENT</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">6.1</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">This
        Agreement shall terminate on the later of the following dates:</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="8%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">6.1.1</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">the
        date on which the IS/IT Agreement is no longer In Effect; and</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">6.1.2</font></font></td>
    <td valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">the
        date on which the BCE Equity Position is less than ten percent (10%).</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">6.2</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Notwithstanding
        the provisions of Section 6.1, the provisions of Sections 1.5, 1.6 and
        1.7 will survive the termination of this Agreement, if such termination
        occurs on or prior to January 6, 2004. </font></font></div></td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> <B>
  </B> </FONT></FONT></p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 11
  - </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>7.</b></font></font>
    </td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>IS/IT
        SERVICES</b></font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">7.1</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">If
        Bell and/or BCE acquire Control of other businesses involved in the provision
        of local or long distance telephone service in Canada (&#147;<b>Telcos</b>&#148;),
        Bell and BCE will use their reasonable commercial efforts to encourage
        such Telcos to enter into arm&#146;s length arrangements with CGI for
        the provision by CGI on an exclusive basis of IS/IT Services to such Telcos.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>8.</b></font></font></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>DEFINITIONS</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">8.1</font></font></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">In
      this Agreement, the following words and expressions shall have the following
      meanings:</font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Affiliate</b>&#148;
        shall have the meaning ascribed thereto in the <i>Canada Business Corporations
        Act</i></font><font face="Arial, Helvetica, sans-serif"><font size="2">;</font></font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Agreement</b>&#148;
        (and expressions such as &#147;<b>herein</b>&#148;, &#147;<b>hereof</b>&#148;,
        &#147;<b>hereby</b>&#148;, &#147;<b>hereunder</b>&#148; and &#147;<b>hereto</b>&#148;)
        means this Agreement among BCE, Subco and CGI, including the Schedule
        hereto;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>&#147;Articles&#148;
        </b>means the Articles of CGI as the same have been amended from time
        to time pursuant to Articles of Amendment issued to CGI prior to the date
        of this Agreement; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Average
        Market Price</b>&#148; means the average of the closing prices for the
        Class A Shares on the Toronto Stock Exchange (or, as the case may be,
        the Other Equity Shares if listed on the Toronto Stock Exchange) for the
        number of days and time period specified, or, if the market only gives
        the highest and the lowest prices for such period, the average of the
        daily averages between the highest and lowest prices over the same period,
        with necessary adjustments to conform to the applicable provisions of
        the <i>Securities Act </i>(Quebec) and Regulations thereunder with respect
        to the determination of &#147;market price&#148;;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>BCE</b>&#148;
        means BCE Inc., a corporation incorporated under the laws of Canada, or
        any successor entity thereof;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>BCE
        Equity Position</b>&#148; on any given date means the proportion, expressed
        as a percentage, obtained by dividing (a) the aggregate number of Equity
        Shares held on such date by BCE and any of its Wholly-Owned Subsidiaries,
        by (b) the aggregate number of Equity Shares issued and outstanding on
        such date; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>BCE
        Consent Right</b>&#148; shall have the meaning ascribed thereto in Section
        3.1; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Bell</b>&#148;
        means Bell Canada, a corporation incorporated under the laws of Canada,
        or any successor entity thereof;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Beneficially
        Owned</b>&#148; shall have the meaning ascribed thereto in the <i>Canada
        Business Corporations Act</i>;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
</table>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> <B>
  </B> </FONT></FONT></p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 12
  - </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="90%" colspan="2" valign="top"><p><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Board
        Materials</b>&#148; shall have the meaning ascribed thereto in Section
        3.3;</font></font></p></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Business
        Day</b>&#148; means a day other than a Saturday, Sunday or legal holiday
        in the Province of Quebec;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>CGI</b>&#148;
        means CGI Group Inc., a company constituted under the laws of Quebec,
        or any successor entity thereof; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>CGI
        Board</b>&#148; means the Board of Directors of CGI;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Class
        A Shares</b>&#148; means Class A Subordinate Voting Shares of the share
        capital of CGI; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Class
        B Shares</b>&#148; means Class B (Multiple Voting) Shares of the share
        capital of CGI; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Control</b>&#148;
        (or <b>&#147;Controls&#148; </b>or &#147;<b>Controlled</b>&#148;) for
        the purposes of this Agreement, a body corporate is Controlled by a Person
        or by two or more bodies corporate if (a) securities of the body corporate
        to which are attached more than fifty percent (50%) of the votes that
        may be cast to elect directors of the body corporate are held, directly
        or indirectly through one or more Subsidiaries, other than by way of security
        only, by or for the benefit of that Person or by or for the benefit of
        those bodies corporate; and (b) the votes attached to those securities
        are sufficient, if exercised, to elect a majority of the directors of
        the body corporate;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Convertible
        Securities</b>&#148; shall have the meaning ascribed thereto in Section
        4.1;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Equity
        Shares</b>&#148; means any shares of the share capital of CGI carrying
        voting rights, or carrying a residual right to participate in the earnings
        of CGI or, on the liquidation or winding-up of CGI, in the assets of CGI;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Deposit
        Agreement and Related Agreements</b>&#148; means (i) the Amended and Restated
        Deposit Agreement entered into on August 14, 2001, as the same may have
        been amended thereafter, among BCE, CGI, National Bank Trust Inc. (formerly
        known as Trust G&eacute;n&eacute;ral du Canada) as Depositary, and Serge
        Godin, Andre Imbeau, Jean Brassard and certain other parties thereto,
        (ii) the agreement by BCE and 9107-4302 Qu&eacute;bec Inc. dated September
        28, 2001, as the same may have been amended thereafter, (iii) the agreement
        by BCE and A. Imbeau Trust dated March 1, 2000, as the same may have been
        amended thereafter, and (iv) the agreement between BCE and 9088-0840 Qu&eacute;bec
        Inc. dated September 29, 2000 as the same may have been amended thereafter;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>In
        Effect</b>&#148; with respect to the IS/IT Agreement shall mean that (a)
        the IS/IT Agreement has not terminated in accordance with its original
        term or renewal term, as the case may be, and (b) if the IS/IT Agreement
        has been terminated by a party other than CGI or any Affiliate of CGI
        pursuant to the exercise of a right contained in the IS/IT Agreement to
        elect early termination for, or as a result of or pursuant to: (i) a breach
        or default by CGI (or the applicable CGI Affiliate), or</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 13
  - </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="90%" colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">(ii)
        the cessation of business of CGI (or the applicable CGI Affiliate), or
        (iii) a bankruptcy or insolvency or similar event with respect to CGI
        (or the applicable CGI Affiliate), or (iv) a change of control of CGI
        (or the applicable CGI Affiliate), or (v) any other specified causes set
        out in the IS/IT Agreement, then for purposes of this Agreement, the IS/IT
        Agreement shall be deemed not to have terminated and shall be deemed to
        be &#147;In Effect&#148; until the date of termination of the IS/IT Agreement
        in accordance with its original term or renewal term, as the case may
        be; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>IS/IT
        Agreement</b>&#148; means the Outsourcing Services Agreement entered into
        on May 26, 1998, by Bell, CGI and 3439470 Canada Inc. (now known as CGI
        Information Systems and Management Consultants Inc.), as amended to the
        date hereof and as may be further amended thereafter from time to time
        upon mutual agreement of the parties thereto;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>IS/IT
        Services</b>&#148; has the meaning ascribed thereto in the Alliance Agreement
        entered into on July 24, 2003 between Bell and CGI;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Issue</b>&#148;
        shall have the meaning ascribed thereto in Section 4.1;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Monetization</b>&#148;
        means the entering into of any swap or other arrangement that transfers,
        in whole or in part, any of the economic consequences of ownership of
        any Equity Shares or any rights or securities convertible into or exercisable
        or exchangeable for Equity Shares;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Offered
        Class A Convertible Securities</b>&#148; shall have the meaning ascribed
        thereto in Section 4.1.2; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Offered
        Other Equity Convertible Securities</b>&#148; shall have the meaning ascribed
        thereto in Section 4.1.5; <b></b></font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>&#147;Options
        Agreement and Shareholders&#146; Agreement&#148; </b>means the Second
        Amended &amp; Restated Options Agreement and Shareholders Agreement entered
        into on November 18, 1998, as amended from time to time prior to the date
        hereof, among BCE, Bell, CGI, Serge Godin, Andr&eacute; Imbeau, Jean Brassard,
        and the other parties signatory thereto;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Other
        Equity Shares</b>&#148; shall have the meaning ascribed thereto in Section
        4.1.3;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Person</b>&#148;
        means an individual, partnership, joint venture, association, corporation,
        trust, or a government or any department or agency thereof;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Pre-emptive
        Right</b>&#148; shall have the meaning ascribed thereto in Section</font>
        <font face="Arial, Helvetica, sans-serif"><font size="2">4.1;</font></font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Proposed
        Action</b>&#148; shall have the meaning ascribed thereto in Section 3.1;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Registration
        Rights Agreement</b>&#148; means the agreement so entitled entered into
        among BCE, Bell and CGI on July 1, 1998;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> -14
  - </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Subco</b>&#148;
        means 3588513 Canada Inc., a corporation incorporated under the laws of
        Canada; </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Subsidiary</b>&#148;
        of any Person means any corporation more than fifty percent (50%) of whose
        shares of stock having general voting power under ordinary circumstances
        to elect a majority of the board of directors, managers, or trustees of
        such corporation, irrespective of whether or not at the time stock of
        any other class or classes shall have or might have voting power by reason
        of the happening of any contingency, is owned or Controlled directly or
        indirectly by such Person or by any other Subsidiary of such Person;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Take-over
        Bid</b>&#148; means an offer to acquire Equity Shares where the securities
        subject to the offer to acquire, together with the securities already
        held or Beneficially Owned by the Person making such offer and its Affiliates
        and Persons acting jointly or in concert with such Person, would constitute
        in the aggregate twenty percent (20%) or more of the outstanding securities
        of that class of securities of CGI at the date of the offer to acquire;
        </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">&#147;<b>Telcos</b>&#148;
        shall have the meaning ascribed thereto in Section 7.1;</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>&#147;Wholly-Owned
        Subsidiaries&#148; </b>means any Person in which another Person owns,
        directly or indirectly, all of the outstanding shares or other equity
        interests having voting rights in respect of the election of directors
        of the subject Person. <b></b></font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>9.</b></font></font></td>
    <td colspan="3" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>MISCELLANEOUS</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.1</font></font></td>
    <td colspan="3" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>Notices</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.1.1</font></font></td>
    <td colspan="2" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Any
        notice or other communication required or permitted to be given hereunder
        shall be in writing and shall be delivered in Person, transmitted by telecopy
        or similar means of recorded electronic communication or sent by registered
        mail, charges prepaid, addressed as follows: </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(a)</font></font></td>
    <td width="75%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">if
      to BCE, Subco and any Wholly-Owned Subsidiaries of BCE:</font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>BCE
      INC.<br>
      </b></font><font face="Arial, Helvetica, sans-serif"><font size="2">1000
      de La Gaucheti&egrave;re West <br>
      Suite 3700 <br>
      Montreal, Quebec <br>
      H3B 4Y7</font></font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top"><p><font face="Arial, Helvetica, sans-serif"><font size="2">Attention:
        Chief Financial Officer <br>
        Fax No.: (514) 870-8289 </font></font></p>
      <p><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="2">With
        a copy to:</font></font></font></p></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>BCE
      INC. </b><br>
      1000 de La Gaucheti&egrave;re West</font></font></td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> -
  15 -</FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">Suite
      3700 <br>
      Montreal, Quebec <br>
      H3B 4Y7</font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="14%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">Attention:
      <br>
      Fax No.: </font></font></td>
    <td width="68%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">Chief
      Legal Officer </font><br>
      <font face="Arial, Helvetica, sans-serif"><font size="2">(514) 870-4877</font></font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(b)</font></font></td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">if
      to CGI:</font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>CGI
      Group Inc. </b><br>
      1130 Sherbrooke Street West <br>
      Suite 500 <br>
      Montr&eacute;al, Qu&eacute;bec <br>
      H3A 2M8 </font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">Attention:
      <br>
      <br>
      Fax No.: </font></font></td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">Executive
      Vice-President and Chief Financial <br>
      Officer </font><br>
      <font face="Arial, Helvetica, sans-serif"><font size="2">(514) 841-3294</font></font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">With
      a copy to:</font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>McCarthy
      T&eacute;trault </b><br>
      &#147;Le Windsor&#148; <br>
      1170 Peel Street <br>
      5th Floor <br>
      Montreal, Quebec <br>
      H3B 4S8 </font></font></td>
  </tr>
  <tr>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">Attention:
      <br>
      Fax No.: </font></font></td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">Jean-Ren&eacute;
      Gauthier</font><br>
      <font face="Arial, Helvetica, sans-serif"><font size="2">(514) 875-6246</font></font></font></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.1.2</font></font></td>
    <td colspan="3" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Any
        such notice or other communication shall be deemed to have been given
        and received on the day on which it was delivered or transmitted (or,
        if such day is not a Business Day, on the next following Business Day)
        or, if mailed, on the third Business Day following the date of mailing;
        provided, however, that if at the time of mailing or within three Business
        Days thereafter there is or occurs a labour dispute or other event that
        might reasonably be expected to disrupt the delivery of documents by mail,
        any notice or other communication hereunder shall be delivered or transmitted
        by means of recorded electronic communication as aforesaid.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td width="7%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.1.3
      </font></font></td>
    <td colspan="3" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Any
        party hereto may at any time change its address for service from time
        to time by giving notice to the other parties in accordance with Section
        9.1.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td width="7%" valign="top">&nbsp;</td>
    <td colspan="3" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.2</font></font></td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>Assignment
        </b></font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><font face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">This
        Agreement shall enure to the benefit of and be binding upon the parties
        hereto and their respective successors and permitted assigns. Unless the
        prior </font></font></div></td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 16
  -</FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">written
        consent of BCE is obtained, CGI may not assign any of its rights or obligations
        under this Agreement to any other Person. Unless the prior written consent
        of CGI is obtained, neither BCE nor any of its Wholly-Owned Subsidiaries
        may assign any of its rights or obligations under this Agreement to any
        other Person other than one of BCE&#146;s Wholly-Owned Subsidiaries, or
        from a Wholly-Owned Subsidiary of BCE to BCE, or from one Wholly-Owned
        Subsidiary of BCE to another Wholly-Owned Subsidiary of BCE.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.3</font></font></td>
    <td colspan="4" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>Bell
      Canada </b></font></font></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Notwithstanding
        any other provisions hereof, Bell shall be deemed a Wholly-Owned Subsidiary
        of BCE for the purpose of this Agreement.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.4</font></font></td>
    <td colspan="4" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>Applicable
      laws</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">This
        Agreement shall be governed by and construed in accordance with the laws
        in force in the Province of Quebec and the laws of Canada applicable therein.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.5</font></font></td>
    <td colspan="4" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>Time</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Time
        is of the essence in the performance of the parties&#146; respective obligations.
        </font><font face="Arial, Helvetica, sans-serif"><font size="2">The mere
        lapse of time for performing an obligation shall constitute the debtor
        of said obligation in default.</font></font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.6</font></font></td>
    <td colspan="4" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>Entire
      Agreement; Termination of Certain Agreements</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">This
        Agreement, including the Schedule hereto, constitutes the entire agreement
        of the parties pertaining to the subject matter of this Agreement and
        supersedes all prior agreements (including the Options Agreement and Shareholders&#146;
        Agreement which is hereby terminated and replaced by this Agreement),
        understandings, negotiations and discussions, whether oral or written
        of the parties, and there are no warranties, representations or other
        agreements between the parties in connection with the subject matter of
        this Agreement. No supplement, modification or waiver or termination of
        this Agreement or of the Schedule hereto shall be binding unless executed
        in writing by the party to be bound thereby. No waiver of any of the provisions
        of this Agreement or of the Schedule hereto shall be deemed or shall constitute
        a waiver of any other provision (whether or not similar) nor shall such
        waiver constitute a continuing waiver unless otherwise expressly provided.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Following
        the execution of this Agreement by all of the parties hereto, each of
        CGI and BCE (to the extent they are parties thereto) shall execute all
        documents necessary to give effect to the termination of each of the following
        agreements: (i) the Options Agreement and Shareholders&#146; Agreement
        and (ii) the Deposit Agreement and Related Agreements.</font></font></div></td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 17
  - </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="7%" height="21" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.7</font></font>
    </td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>Counterparts</b></font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">This
        Agreement may be executed in counterparts, each of which shall constitute
        an original and all of which taken together shall constitute one and the
        same instrument.</font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.8</font></font></td>
    <td colspan="4" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>Severability</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">If
        any provision of this Agreement is held illegal, invalid or unenforceable
        by any competent authority in any jurisdiction, such illegality, invalidity
        or unenforceability shall not affect or render illegal, invalid or unenforceable
        such provision in any other jurisdiction or any other provision of this
        Agreement in any jurisdiction, except if such provision is an essential
        element of this Agreement. </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.9</font></font></td>
    <td colspan="4" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>Press
      Release; Material Change Report</b></font></font></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        parties acting reasonably shall agree on a joint press release or on a
        press release to be issued by each of BCE and CGI, respectively, in respect
        of their entering into of this Agreement and the termination of the Options
        Agreement and Shareholders Agreement. Should the parties decide not to
        issue a joint press release, each party shall provide the other party
        the opportunity (and reasonable time) to review and submit comments on
        its own press release and each party shall give due consideration, acting
        reasonably and in good faith, to the other party&#146;s comments thereon.
        </font></font></div></td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="7%" height="21" valign="top">&nbsp;</td>
    <td colspan="4" valign="top"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">If
        CGI determines to file a material change report with any securities commission,
        CGI shall provide BCE the opportunity (and reasonable time) to review
        and submit comments thereon to CGI prior to CGI&#146;s filing of same,
        and CGI shall give due consideration, acting reasonably and in good faith,
        to BCE&#146;s comments thereon. </font></font></div></td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<p align="justify">&nbsp;</p>
<p align="justify">&nbsp;</p>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 18
  -</FONT></FONT></p>
<p align="justify">&nbsp;</p>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>IN
  WITNESS WHEREOF</B>, this Agreement has been executed by the parties on the
  date first hereinabove written.</FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="1"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>BCE
      INC.</b></font></font><font size="2"></font></font></font></td>
    <td width="10">&nbsp;</td>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="1"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>3588513
      CANADA INC.</b></font></font><font size="2"></font></font></font></td>
  </tr>
  <tr>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:
      </font></font></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) William D. Anderson</font></td>
    <td width="10">&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:</font></font></font>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Martine Turcotte</font></td>
  </tr>
  <tr valign="bottom">
    <td height="22" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">
      </font></font></font> </td>
    <td height="22"><hr noshade color="Black" size="1"></td>
    <td width="10">&nbsp;</td>
    <td valign="top">&nbsp; </td>
    <td><hr noshade color="Black" size="1"></td>
  </tr>
  <tr valign="top">
    <td width="6%"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">
      </font></font></font></td>
    <td width="37%"><font face="Arial, Helvetica, sans-serif"><font size="2">William.
      D. Anderson</font></font></td>
    <td width="10">&nbsp;</td>
    <td width="6%"><font face="Arial, Helvetica, sans-serif"><font size="1"></font></font></td>
    <td width="44%"><font face="Arial, Helvetica, sans-serif"><font size="2">Martine
      Turcotte</font></font></td>
  </tr>
  <tr valign="top">
    <td colspan="2">&nbsp;</td>
    <td width="10">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td colspan="2">&nbsp;</td>
    <td width="10">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>CGI
      GROUP INC.</b></font></font></td>
    <td width="10">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:
      </font></font></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Serge Godin</font></td>
    <td width="10">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td height="22" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">
      </font></font></font> </td>
    <td height="22"><hr noshade color="Black" size="1"></td>
    <td width="10">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">
      </font></font></font></td>
    <td><font face="Arial, Helvetica, sans-serif"><font size="2">Serge Godin</font></font></td>
    <td width="10">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<p align="justify">&nbsp;</p>
<p align="justify">&nbsp;</p>
<p align="justify">&nbsp;</p>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 19
  -</FONT></FONT></p>
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B><font size="3">I</font>NTERVENTIONS
  </B></FONT></FONT></p>
<p align="justify">&nbsp;</p>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">On
  July 24, 2003, each of the undersigned hereby intervenes to this Agreement,
  acknowledges having taken cognizance thereof and undertakes to (i) execute all
  documents necessary to give effect to the termination of the Options Agreement
  and Shareholders&#146; Agreement and (ii) exercise the voting rights attached
  to the Class A Shares and Class B Shares owned or Controlled by them, respectively,
  at each CGI shareholders meeting at which directors are presented for election
  on CGI Board in order to elect to CGI Board such number of BCE Nominees as specified
  in Section 2.1 of this Agreement. </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">(signed) Serge Godin</font></td>
    <td width="20%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">(signed) Andr&eacute; Imbeau</font></td>
  </tr>
  <tr valign="bottom">
    <td colspan="2" valign="bottom"> <hr size="1" noshade color="Black"> </td>
    <td width="20%">&nbsp;</td>
    <td colspan="2"> <hr size="1" noshade color="Black"></td>
  </tr>
  <tr valign="top">
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>SERGE
      GODIN </b></font></font></font></td>
    <td width="20%">&nbsp;</td>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>ANDR&Eacute;
      IMBEAU</b></font></font></font></td>
  </tr>
  <tr>
    <td colspan="2">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td colspan="2">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"></font></font></font></td>
    <td width="20%">&nbsp;</td>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>9058-0705</b></font><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      QU&Eacute;BEC INC.</b></font></font></font></font></td>
  </tr>
  <tr>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">(signed)
      Jean Brassard</font></td>
    <td width="20%">&nbsp;</td>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Serge Godin</font></td>
  </tr>
  <tr valign="bottom">
    <td height="22" colspan="2"><hr noshade color="Black" size="1"> </td>
    <td width="20%">&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:</font></font></font>
    </td>
    <td><hr noshade color="Black" size="1"></td>
  </tr>
  <tr valign="top">
    <td colspan="2"><div align="left"><font face="Arial, Helvetica, sans-serif"><font size="1"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>JEAN
        BRASSARD </b></font></font></font></font></font></div></td>
    <td width="20%"> <div align="left"></div></td>
    <td width="7%"><div align="left"><font face="Arial, Helvetica, sans-serif"><font size="1"></font></font></div></td>
    <td width="49%"><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">Serge
        Godin</font></div></td>
  </tr>
  <tr valign="top">
    <td colspan="2">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td colspan="2">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td colspan="2"><div align="left"><font size="2" face="Arial, Helvetica, sans-serif"><strong>3727912</strong>
        <strong>CANADA<font size="3"> I</font>NC.</strong></font></div></td>
    <td width="20%"> <div align="left"></div></td>
    <td colspan="2"><div align="left"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"><b>9061-9354
        </b></font><font face="Arial, Helvetica, sans-serif"><font size="2"><b>QU&Eacute;BEC
        INC.</b></font></font></font></font></div></td>
  </tr>
  <tr valign="top">
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By
      </font><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">:</font></font></font><font size="1"></font></font><font size="2">
      </font></font></font></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Serge Godin</font></td>
    <td width="20%">&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:</font></font></font></font></font>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Andr&eacute;
      Imbeau</font></td>
  </tr>
  <tr valign="bottom">
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">
      </font></font></font></font> </td>
    <td><hr noshade color="Black" size="1"></td>
    <td width="20%">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td><hr noshade color="Black" size="1"></td>
  </tr>
  <tr valign="top">
    <td width="7%"><div align="left"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td width="40%"><div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">Serge
        Godin</font></font></div></td>
    <td width="20%"> <div align="left"></div></td>
    <td width="7%"><div align="left"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="1"></font></font><font size="1"></font></font><font size="1"></font></font></div></td>
    <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">Andr&eacute;
        Imbeau</font></div></td>
  </tr>
  <tr valign="top">
    <td colspan="2">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td colspan="2">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td colspan="2"> <div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>9102-7003</b></font></font><font size="1" face="Arial, Helvetica, sans-serif">
        </font><font face="Arial, Helvetica, sans-serif"><font size="2"><b>QU&Eacute;BEC
        INC.</b></font></font><font size="1" face="Arial, Helvetica, sans-serif">
        </font></div></td>
    <td width="20%"> <div align="left"></div></td>
    <td colspan="2"><div align="left"><font face="Arial, Helvetica, sans-serif"><font size="1"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>9065-4476</b></font></font><font size="2"><b>
        </b></font><font face="Arial, Helvetica, sans-serif"><font size="2"><b>QU&Eacute;BEC
        INC.</b></font></font></font></font></div></td>
  </tr>
  <tr valign="top">
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font face="Arial, Helvetica, sans-serif"><font size="1"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By</font><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">:</font></font></font><font size="1"></font></font><font size="2"></font></font></font></font></font></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Andr&eacute;
      Imbeau</font></td>
    <td width="20%">&nbsp;</td>
    <td><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2">By:</font></font></font></font></font>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(signed) Jean Brassard</font></td>
  </tr>
  <tr valign="bottom">
    <td valign="top"> <font face="Arial, Helvetica, sans-serif"><font size="1"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="1"></font></font></font><font size="2"><b>
      </b></font></font></font></td>
    <td><hr noshade color="Black" size="1"></td>
    <td width="20%">&nbsp;</td>
    <td valign="top">&nbsp; </td>
    <td><hr noshade color="Black" size="1"></td>
  </tr>
  <tr valign="top">
    <td><div align="left"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">Andr&eacute;
        Imbeau</font></div></td>
    <td width="20%"> <div align="left"></div></td>
    <td><div align="left"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font size="1"></font></font><font size="1"></font></font><font size="1"></font></font></div></td>
    <td><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">Jean
        Brassard</font></div></td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 20
  - </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">On
  July 24, 2003, each of the undersigned hereby intervenes to this Agreement,
  acknowledges having taken cognizance thereof and, to the extent and for so long
  as he is a member of CGI Board, undertakes to exercise his vote as a member
  of CGI Board to: (A) cause the BCE Nominee(s) to be appointed to the committee(s)
  of CGI Board as specified in Section 2.2 of this Agreement; and (B) appoint
  BCE Nominee(s) to fill vacancies among previously elected or appointed BCE Nominees
  as specified in Sections 2.1 and 2.2 of this Agreement. </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr valign="bottom">
    <td valign="bottom"><font size="2" face="Arial, Helvetica, sans-serif">(signed) Serge
      Godin</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td width="40%" valign="bottom"> <hr size="1" noshade color="Black"> </td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp; </td>
  </tr>
  <tr valign="top">
    <td width="40%"><font face="Arial, Helvetica, sans-serif"><font size="1"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>SERGE
      GODIN</b></font></font></font></font></td>
    <td width="20%">&nbsp;</td>
    <td width="40%"><font face="Arial, Helvetica, sans-serif"><font size="1"><font size="2"></font></font></font></td>
  </tr>
  <tr>
    <td width="40%">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%"><font size="2" face="Arial, Helvetica, sans-serif">(signed) Jean Brassard</font></td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%"> <hr size="1" noshade color="Black"></td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>JEAN
      BRASSARD</b></font></font></td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%"><font size="2" face="Arial, Helvetica, sans-serif">(signed) Andr&eacute;
      Imbeau</font></td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%"> <hr size="1" noshade color="Black"></td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>ANDR&Eacute;
      IMBEAU</b></font></font></td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="40%">&nbsp;</td>
    <td width="20%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<p align="justify">&nbsp;</p>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>
  </B><B>SCHEDULE 3.1 </B></FONT></FONT></p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"><B>Matters
  requiring consent of BCE</B></FONT></FONT></p>
<table width="99%" border="0">
  <tr>
    <td width="10%" valign="top">
<div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">1.</font></font></div></td>
    <td width="91%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Any
        arrangement, amalgamation or merger of CGI with any other Person, except
        for amalgamations of CGI with wholly-owned Subsidiaries of CGI or with
        other public corporations the market capitalization of which is less than
        15% of the market capitalization of CGI. </font></font></div></td>
  </tr>
  <tr>
    <td width="10%" valign="top">
<div align="left"></div></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="10%" valign="top">
<div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">2.</font></font></div></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        making by CGI or any or its consolidated Subsidiaries of any acquisition
        or disposition of assets or securities in an amount in excess of 15% of
        the market capitalization of CGI.</font></font></div></td>
  </tr>
  <tr>
    <td width="10%" valign="top">
<div align="left"></div></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="10%" valign="top">
<div align="left"><font face="Arial, Helvetica, sans-serif"><font size="2">3.</font></font></div></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Any
        transaction or operations involving CGI or any of its consolidated Subsidiaries
        as a result of which the debt (within the meaning of the definition of
        &#147;Endettement&#148; provided in the CGI Credit Agreement (as defined
        below)) to EBITDA ratio of CGI would be more than 2.5 to 1.0; the debt
        to equity ratio of CGI would be more than 1.0 to 1.0; with such ratios
        calculated on the basis of the corresponding terms &#147;<b>Debt</b>&#148;
        (&#147;<b>Endettement</b>&#148;), &#147;<b>EBITDA</b>&#148; and &#147;<b>Equity</b>&#148;
        (&#147;<b>Avoir net minimum</b>&#148;), to the extent defined in the Credit
        Agreement of CGI with National Bank of Canada and Royal Bank of Canada
        entered into on May 1, 1997 (the &#147;<b>CGI Credit Agreement</b>&#148;<b><i>)</i></b>;
        with such ratios calculated as at the end of the most recent fiscal quarter
        (with respect to the first three quarters of a fiscal year) or year end
        of CGI or, as the case may be, for the four most recently completed fiscal
        quarters of CGI, adjusted in each case on a <i>pro forma </i>basis to
        take into account such transaction or operations; provided however that
        the debt to EBITDA ratio shall apply only to the extent that the information
        required to calculate same in respect of the proposed transaction is reasonably
        accessible.</font></font></div></td>
  </tr>
  <tr>
    <td width="10%" valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">4.</font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        appointment, from time to time, of a Chief Executive Officer other than
        Serge Godin.</font></font></div></td>
  </tr>
  <tr>
    <td width="10%" valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">5.</font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Amending
        or proposing to amend the Articles or By-laws of CGI, but only if such
        amendment affects a class of Equity Shares which are, at the time of such
        amendment or proposed amendment, held by BCE or any of its Wholly-Owned
        Subsidiaries.</font></font></div></td>
  </tr>
  <tr>
    <td width="10%" valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">6.
      </font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        acquisition of, or agreement to acquire (by amalgamation, merger, take-over
        bid, plan of arrangement, reorganization, recapitalization, liquidation
        or windingup of, reverse take-over bid or other business combination or
        similar transaction involving CGI or any of its consolidated Subsidiaries),
        any Person or business primarily engaged in an activity other than IS/IT
        Services. </font></font></div></td>
  </tr>
  <tr>
    <td width="10%" valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">7.
      </font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        launching of any lines of business or any other material change in CGI&#146;s
        corporate strategy not forming part of IS/IT Services.</font></font></div></td>
  </tr>
  <tr>
    <td width="10%" valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">8.</font></font></td>
    <td><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">The
        adoption of any annual business plan or budget or the making of any amendment
        thereto showing a pre-tax margin of less than six percent (6%).</font></font></div></td>
  </tr>
</table>
<p align="justify">&nbsp;</p>
<hr noshade color="Black" size="2">
<p align="justify">&nbsp;</p>
<p align="center"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2">- 2
  - </FONT></FONT></p>
<p align="justify">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">9.</font></font>
    </td>
    <td width="96%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">Any
        material alliance or joint venture that BCE concludes, acting reasonably,
        is or would likely be inconsistent in a significant respect with the commercial
        interests of the BCE group of companies.</font></font> </div></td>
  </tr>
</table>
<p align="justify"><FONT FACE="Arial, Helvetica, sans-serif"><FONT SIZE="2"> </FONT></FONT></p>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>6
<FILENAME>exhibit5.htm
<DESCRIPTION>EXHIBIT 5
<TEXT>
<HTML>
<HEAD>
<TITLE>AutoCoded Document</TITLE>
</HEAD>
<BODY>
<p>&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="right"><font size="5" face="Arial, Helvetica, sans-serif"><strong>EXHIBIT
  5</strong></font></p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="right">&nbsp;</p>
<p align="center"><font size="6"><strong><font face="Arial, Helvetica, sans-serif">REGISTRATION</font></strong></font></p>
<p align="center"><strong><font size="6" face="Arial, Helvetica, sans-serif">RIGHTS</font></strong></p>
<p align="center"><strong><font size="6" face="Arial, Helvetica, sans-serif">AGREEMENT</font></strong></p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<HR color=gray noShade SIZE=3>
<p><font face="Arial, Helvetica, sans-serif"> </font></p>
<font face="Arial, Helvetica, sans-serif"><P ALIGN="CENTER"><FONT SIZE="2"><B>REGISTRATION RIGHTS AGREEMENT</B></FONT></P>
</font>
<p><font face="Arial, Helvetica, sans-serif"><font size="2"> <strong>THIS AGREEMENT</strong>
  is made and entered into as of the 1st day of July 1998, </font></font></p>
<table width="99%" border="0">
  <tr>
    <td width="30%"><font face="Arial, Helvetica, sans-serif"><font size="2"><strong>BETWEEN:</strong></font></font></td>
    <td width="70%"><font face="Arial, Helvetica, sans-serif"><font size="2"><strong>BCE
      INC.</strong>, a corporation duly constituted under the laws of Canada;</font></font></td>
  </tr>
  <tr>
    <td width="30%">&nbsp;</td>
    <td width="70%">&nbsp;</td>
  </tr>
  <tr>
    <td width="30%"><font face="Arial, Helvetica, sans-serif"><font size="2"><strong>AND:</strong></font></font></td>
    <td width="70%"><font face="Arial, Helvetica, sans-serif"><font size="2"><strong>BELL
      CANADA</strong>, a corporation duly constituted under the laws of Canada;</font></font></td>
  </tr>
  <tr>
    <td width="30%">&nbsp;</td>
    <td width="70%">&nbsp;</td>
  </tr>
  <tr>
    <td width="30%">&nbsp;</td>
    <td width="70%"><font face="Arial, Helvetica, sans-serif"><font size="2">(hereinafter
      referred to as "<strong>Bell</strong>")</font></font></td>
  </tr>
  <tr>
    <td width="30%">&nbsp;</td>
    <td width="70%">&nbsp;</td>
  </tr>
  <tr>
    <td width="30%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><strong>AND:</strong></font></font></td>
    <td width="70%"><font face="Arial, Helvetica, sans-serif"><font size="2"><strong>THE
      CGI GROUP INC.</strong>, a company duly incorporated under the laws of the
      Province of Quebec;</font></font></td>
  </tr>
  <tr>
    <td width="30%">&nbsp;</td>
    <td width="70%">&nbsp;</td>
  </tr>
  <tr>
    <td width="30%">&nbsp;</td>
    <td width="70%"><font face="Arial, Helvetica, sans-serif"><font size="2">(hereinafter
      referred to as "<strong>CGI</strong>")</font></font></td>
  </tr>
</table>
<p>&nbsp;</p>
<P ALIGN="justify"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>WHEREAS
  </B>Bell, an affiliate of BCE, currently owns 27,156,432 Class A Subordinate
  Voting Shares and 17,200,000 First Preferred Shares, Series 6 in the share capital
  of CGI;</FONT> </P>
<P ALIGN="justify"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>WHEREAS
  </B>BCE owns 12,000,000 Class A Subordinate Voting Shares in the share capital
  of CGI; and</FONT> </P>
<div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><strong>WHEREAS</strong>
  Bell and BCE may acquire additional shares of CGI from time to time;</font>
</div>
<P ALIGN="justify"><FONT size="2" FACE="Arial, Helvetica, sans-serif"><B>NOW,
  THEREFORE</B>, for good and valuable consideration (the receipt and sufficiency
  of which are hereby acknowledged) and in consideration of the respective covenants
  and agreements hereinafter contained, the Parties hereby agree as follows:</FONT>
</P>
<font size="2" face="Arial, Helvetica, sans-serif"> </font><font face="Arial, Helvetica, sans-serif">
</font>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif"><B><u>ARTICLE
  1 </u></B></FONT></P>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif"><B><u>DEFINITIONS</u></B></FONT></P>
<table width="99%" border="0">
  <tr>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif"><b>1.1</b></font></td>
    <td width="85%"><font face="Arial, Helvetica, sans-serif"><font size="2"><strong>Definitions.</strong>
      The following terms, as used herein, have the following meanings:</font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><font face="Arial, Helvetica, sans-serif"><font size="2">"<strong>BCE</strong>"
      means BCE Inc. and its successors;</font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2">"<strong>Commissions</strong>"
        means the relevant securities commissions and regulatory authorities,
        and any Securities Exchanges; </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><font face="Arial, Helvetica, sans-serif"><font size="2">"<strong>Demand
      Registration</strong>" has the meaning set forth in Section 2.1;</font></font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<b>Jurisdiction</b>&#148;
        means any jurisdiction where Securities of the same class and series as
        the Registrable Securities included in the subject Demand Registration
        are registered or any jurisdiction where CGI is a reporting issuer from
        time to time;</font> </div></td>
  </tr>
</table>
<P ALIGN="left">&nbsp;</P>
<P ALIGN="left">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif">2</FONT></P>
<P ALIGN="center">&nbsp;</P>
<P ALIGN="center">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<b>Person</b>&#148;
        is to be interpreted broadly and includes, without limitation any individual
        or group, and any firm, corporation, company, limited liability company,
        association, partnership, joint venture, trust, unincorporated organisation,
        a state or political subdivision hereof, a government and every agency
        or instrumentality thereof or any other entity;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">"<strong>Registrable
        Securities</strong>" means any Securities owned from time to time by BCE
        or any of its wholly-owned Subsidiaries;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><font size="2" face="Arial, Helvetica, sans-serif">"<strong>Registration
      Expenses</strong>" has the meaning set forth in Section 6.1;</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<b>Registration
        Statement</b>&#148; means any registration statement or prospectus of
        CGI or any document prepared in lieu thereof under applicable Securities
        Laws which covers any Securities, including amendments and supplements
        to such registration statement, including post-effective amendments, and
        all exhibits and all materials incorporated by reference in such prospectus
        or registration statement as well as offering memoranda and any other
        offering documents;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><font size="2" face="Arial, Helvetica, sans-serif">"<strong>SEC</strong>"
      means the Securities and Exchange Commission of the United States of America;</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<b>Securities</b>&#148;
      means Class A Subordinate Voting Shares, Class B Shares (Multiple Voting)
      or any other securities (whether equity or debt) of CGI (whether now existing
      or hereafter created), including common shares of CGI resulting from the
      redesignation of Class A Shares of CGI in accordance with the Articles of
      CGI;</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> "<strong>Securities
      Act</strong>" means the United States Securities Act of 1933, as amended;</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<b>Securities
        Exchanges</b>&#148; means the securities exchanges on which Securities
        of the same class and series as the Registrable Securities included in
        the subject Demand Registration are listed or quoted;</font> </div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<b>Securities
        Laws</b>&#148; means provincial securities legislation in Canada and the
        securities legislation of such other relevant Jurisdiction;</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">&#147;<b>Subsidiary</b>&#148;
        of any Person means any corporation more than 50% of whose shares of stock
        having general voting power under ordinary circumstances to elect a majority
        of the board of directors, managers, or trustees of such corporation,
        irrespective of whether or not at the time stock of any other class or
        classes shall have or might have voting power by reason of the happening
        of any contingency, is owned or controlled directly or indirectly by such
        Person or by any other Subsidiary of such Person.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font size="2" face="Arial, Helvetica, sans-serif"><b>1.2</b></font> </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"> <strong>Interpretation</strong>.
      For the purposes hereof, Bell shall be deemed to be a wholly-owned Subsidiary
      of BCE.</font></td>
  </tr>
</table>
<P ALIGN="left">&nbsp;</P>
<P ALIGN="left">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="left">&nbsp;</P>
<P ALIGN="left"><font size="2" face="Arial, Helvetica, sans-serif"> </font><font face="Arial, Helvetica, sans-serif">
  </font></P>
<font face="Arial, Helvetica, sans-serif">
<P ALIGN="center"><FONT SIZE="2">3<B> </B></FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT SIZE="2"><B><u>ARTICLE 2</u></B></FONT></P>
</font>
<p align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"> <strong><u>DEMAND
  REGISTRATION RIGHTS</u></strong></font></font></p>
<table width="99%" border="0">
  <tr>
    <td width="15%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><strong>2.1</strong></font></font></td>
    <td colspan="3"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2"><strong>Demand</strong></font></font><strong><font size="2" face="Arial, Helvetica, sans-serif">
        Registrati</font></strong><font size="2" face="Arial, Helvetica, sans-serif"><b>on
        Rights</b>. Upon the written request of BCE made from time to time, for
        and on behalf of itself or of one or more of its wholly-owned Subsidiaries
        as holders of Registrable Securities (&#147;<b>Demand Registration</b>&#148;),
        CGI shall use its best efforts to file one or more Registration Statements
        under applicable Securities Laws (including the listing of the subject
        Registrable Securities on Securities Exchanges as requested by BCE) in
        order to permit the offer and sale or other disposition in Canada and/or
        in such other Jurisdictions of all or any portion of the Registrable Securities
        and CGI shall cooperate in a timely manner in connection with such disposition.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%"><font face="Arial, Helvetica, sans-serif"><font size="2"><strong>2.2</strong></font></font></td>
    <td colspan="3"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Restrictions</strong>.
      CGI shall not be obliged to effect</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><strong><font face="Arial, Helvetica, sans-serif"><font size="2">(a)</font></font></strong></td>
    <td colspan="2"><div align="justify"><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">a
        Demand Registration during the period starting 30 days prior to and ending
        120 days after the effective date of CGI&#146;s most recent Registration
        Statement filed under the Securities Act or under applicable provincial
        securities legislation in Canada covering Securities of the same class
        and series as the Registrable Securities included in the subject Demand
        Registration;</font><font size="2"> </font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="10%"><div align="justify"></div></td>
    <td width="65%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><strong><font face="Arial, Helvetica, sans-serif"><font size="2">(b)</font></font></strong></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">a
        Demand Registration covering Registrable Securities representing less
        than 5% of the total number of then outstanding Securities of the same
        class and series as the Registrable Securities included in the subject
        Demand Registration;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="10%"><div align="justify"></div></td>
    <td width="65%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><strong><font face="Arial, Helvetica, sans-serif"><font size="2">(c)</font></font></strong></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">more
        than one Demand Registration pursuant to the provisions of Section 2.1
        in any twelve-month period; and</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><strong><font face="Arial, Helvetica, sans-serif"><font size="2">(d)
      </font></font></strong></td>
    <td colspan="2" valign="top">
<div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">a Demand
        Registration where the Board of Directors of CGI, in its good faith judgement,
        determines, and BCE, acting reasonably, agrees that any registration of
        Registrable Securities should not be made or continued because (i) the
        market conditions then prevailing in the Jurisdiction are not favourable
        to or do not allow the completion of a registration within a price range
        acceptable to BCE or (ii) it would have a material adverse effect on any
        material financing, acquisition, corporate reorganization or merger or
        other similar transaction involving CGI or any of its Subsidiaries already
        approved by the Board of Directors of CGI at the time the Demand Registration
        is made (any such event mentioned in (i) and (ii), a &#147;<b>Valid Business
        Reason</b>&#148;). Upon the occurrence of any such Valid Business Reason,
        CGI may:</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(i)
      </font></font></td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">postpone
        filing a Registration Statement relating to a Demand Registration request
        until such Valid Business Reason no longer exists, but in no event for
        more than 180 days; and </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2">(ii)</font></font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">in
        case a Registration Statement has been filed relating to a Demand Registration
        request, CGI may cause such Registration Statement to be withdrawn and
        its effectiveness terminated or may postpone amending or </font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<P ALIGN="center"><font size="2" face="Arial, Helvetica, sans-serif">4</font></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">supplementing
        such Registration Statement until such Valid Business Reason no longer
        exists, but in no event for more than 180 days,</font><font size="2" face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">(such
        period of postponement or withdrawal under Sections 2.2(d)(i) and (ii),
        the &#147;<b>Postponement Period</b>&#148;); and CGI shall give to BCE
        written notice of its determination to postpone or withdraw a Registration
        Statement and of the fact that the Valid Business Reason for such postponement
        or withdrawal no longer exists, in each case, promptly after the occurrence
        thereof. If CGI shall give any notice of postponement or withdrawal of
        any Registration Statement, CGI shall not, during the period of postponement
        or withdrawal, register or qualify any Class A Share, other than pursuant
        to a Registration Statement on Form S-4 or S-8 (or an equivalent registration
        form then in effect) or similar form in a Jurisdiction. If CGI shall give
        any notice of withdrawal or postponement of a Registration Statement,
        CGI shall, at such time as the Valid Business Reason that caused such
        withdrawal or postponement no longer exists (but in no event later than
        180 days after the date of the notice of postponement or withdrawal given
        hereunder), use its best reasonable efforts to effect the registration
        in accordance with Section 2.1 (unless BCE shall have withdrawn such request,
        in which case CGI shall not be considered to have effected an effective
        registration for the purposes of this Agreement).</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Subject
        to the terms of this Section 2.2 and Section 6.2 hereof, BCE shall not
        otherwise be limited in the number of Demand Registrations it shall have
        the right to make.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>2.3
      </b></font></td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Notice
        of Demand Registration</b>. Any request by BCE pursuant to Section 2.1
        hereof shall <b>(a) </b>specify the number and class and series of Registrable
        Securities which BCE or one or more of its wholly-owned Subsidiaries intends
        to offer and sell, <b>(b) </b> express the intention of BCE or one or
        more of its wholly-owned Subsidiaries to offer or cause the offering of
        such Registrable Securities, <b>(c) </b>describe the nature or method
        of the proposed offer and sale thereof and state in which Jurisdiction
        such offer shall be made, <b>(d) </b>specify the Securities Exchanges
        on which BCE requests that such Registrable Securities be listed, from
        among the Securities Exchanges on which the Registrable Securities are
        already listed at the time of the Demand Registration, <b>(e) </b>contain
        the undertaking of BCE and of its relevant wholly-owned Subsidiary to
        provide all such information regarding their holdings and the proposed
        manner of distribution thereof as may be required in order to permit CGI
        to comply with all applicable Securities Laws and all requirements of
        the Commissions, and to obtain acceleration of the effective date of any
        Registration Statement covering such Registrable Securities, and <b>(f)
        </b>specify whether such offer and sale shall be made by an underwritten
        public offering.</font></div></td>
  </tr>
  <tr>
    <td width="15%" valign="top">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>2.4</b></font>
    </td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Choice
        of Underwriters and Counsel</b>. In the case of an underwritten public
        offering, BCE shall have the right to select the managing underwriter
        or underwriters of such Registrable Securities, provided, however, that
        such selection shall also be reasonably satisfactory to CGI. CGI shall
        have the right to retain counsel of its choice to assist it in fulfilling
        its obligations under this Agreement subject to the approval of BCE not
        to be unreasonably withheld.</font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp; </P>
<font size="2" face="Arial, Helvetica, sans-serif"> </font>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp; </P>
<p><font size="2" face="Arial, Helvetica, sans-serif"> </font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif">5</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><strong>2.5</strong></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Registrations
        of Additional Shares.</strong> CGI, subject to Section 2.6, may elect
        to include in </font> <font size="2" face="Arial, Helvetica, sans-serif">any
        Demand Registration and offering made pursuant to Section 2.1, (i) authorized
        but unissued Class A Shares or (ii) other securities of CGI; provided,
        however, that such inclusion shall be permitted only to the extent that
        it is pursuant to and subject to the terms of the underwriting agreement
        or arrangements, if any, entered into by BCE or its relevant wholly-owned
        Subsidiary.</font></div></td>
  </tr>
  <tr>
    <td width="15%" valign="top">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>2.6</b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>
        Priority on Demand Registrations</b>. CGI will not include in any Demand
        Registrations any securities which are not Registrable Securities without
        the prior written consent of BCE. If a Demand Registration is an underwritten
        offering and the managing underwriters advise CGI in writing that in their
        opinion the number of Registrable Securities and, other securities requested
        to be included in such offering exceeds the number of Registrable Securities
        and other securities, if any, which can be sold in an orderly manner in
        such offering within a price range acceptable to BCE, CGI shall include
        in such registration (i) first, the number of Registrable Securities requested
        to be included by BCE which in the opinion of such underwriters can be
        sold in an orderly manner within the price range of such offering (in
        such proportion among BCE and its respective wholly-owned Subsidiaries
        as determined in the sole discretion of BCE) (ii) second, the Registrable
        Securities to be included by CGI pursuant to Section 2.5 and (iii) third,
        any other securities which are not Registrable Securities and for which
        CGI requested their inclusion pursuant to Section 2.5 hereof.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>ARTICLE
        3</u> </b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b><u>IPO
        RIGHTS</u></b></font></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>
      3.1 </b></font></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>IPO
        Rights</b>. Subject to the terms of this Agreement, CGI, at the request
        (the &#147;<b>Request</b>&#148;) of BCE, for and on behalf of itself or
        one or more of its wholly-owned Subsidiaries as holders of Registerable
        Securities, if such request is made at least 180 days after the date hereof,
        shall use its reasonable best efforts to cause the consummation of an
        initial public offering (the &#147;<b>IPO</b>&#148;) of Class A Shares,
        or the common shares of CGI resulting from the redesignation of Class
        A Shares in accordance with the Articles of CGI, registered under the
        Securities Act and, in connection therewith shall use its reasonable best
        efforts to cause to be filed with the SEC within one year after such a
        Request, a Registration Statement under the Securities Act, and to cause
        such Registration Statement to become effective as soon as practicable
        after such filing (such right to an IPO under this Section 3.1 being hereinafter
        referred to as the <b>&#147;IPO Right</b>&#148;).</font></div></td>
  </tr>
  <tr>
    <td width="15%" valign="top">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>3.2</b></font></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Restriction
        on IPO Rights</b>. If the Board of Directors of CGI, in its good faith
        judgement, determines, and BCE, acting reasonably, agrees that any IPO
        and registration of Registerable Securities pursuant to Section 3.1 should
        not be made or continued because (i) the market conditions then prevailing
        in the United States are not favourable to or do not allow the completion
        of an IPO and registration within a price range acceptable to CGI or (ii)
        such IPO and registration would have a material adverse effect on any
        material financing, acquisition, corporate reorganization or merger or
        other similar transaction involving CGI or any of its Subsidiaries already
        approved by the</font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp; </p>
<font size="2" face="Arial, Helvetica, sans-serif"> </font>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif">6</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><font size="2" face="Arial, Helvetica, sans-serif">Board of
      Directors of CGI at the time the Request is made (any such event mentioned
      in (i) or (ii) hereof a &#147;<b>Valid Business Reason</b>&#148;), CGI may:</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(i)
      </font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">postpone
        filing a Registration Statement relating to a Request until such Valid
        Business Reason no longer exists, but in no event for more than 180 days,
        and</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(ii)</font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">in case
      a Registration Statement has been filed relating to a Request, CGI may cause
      such Registration Statement to be withdrawn and its effectiveness terminated
      or may postpone amending or supplementing such Registration Statement until
      such Valid Business Reason no longer exists, but in no event for more than
      180 days,</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">(such
        period of postponement or withdrawal under Sections 3.2(i) and (ii), the
        &#147;<b>Postponement Period</b>&#148;); and CGI shall give to BCE written
        notice of its determination to postpone or withdraw a Registration Statement
        and of the fact that the Valid Business Reason for such postponement or
        withdrawal no longer exists, in each case, promptly after the occurrence
        thereof. If CGI shall give any notice of postponement or withdrawal of
        any IPO or Registration Statement, CGI shall not, during the period of
        postponement or withdrawal, register any Class A Share, other than pursuant
        to a registration statement on Form S-4 or S-8 (or an equivalent registration
        form then in effect). If CGI shall give any notice of withdrawal or postponement
        of IPO or Registration Statement, CGI shall, at such time as the Valid
        Business Reason that caused such withdrawal or postponement no longer
        exists (but in no event later than 180 days after the date of the notice
        of postponement or withdrawal given hereunder), use its best efforts to
        effect the IPO and Registration Statement in accordance with Section 3.1
        (unless BCE shall have withdrawn such Request, in which case CGI shall
        not be considered to have effected IPO and Registration Statement for
        the purposes of this Agreement).</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>ARTICLE
        4</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b><u>INCIDENTAL
        REGISTRATION RIGHTS</u></b></font></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>4.1</b></font></font></td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Incidental
        Registration Rights</b>. Whenever CGI proposes to offer and sell or otherwise
        dispose of any Securities under any Securities Laws in a manner that would
        also permit the offer and sale of any Registrable Securities (a &#147;<b>Disposition</b>&#148;),
        it shall promptly give written notice (the &#147;<b>Offer Notice</b>&#148;)
        thereof to BCE. Upon the written request of BCE, for and on behalf of
        itself or of one or more of its wholly-owned Subsidiaries as holders of
        Registrable Securities, to be given within five (5) days after receipt
        of the subject Offer Notice, to offer and sell or otherwise dispose of
        any Registrable Securities (which request shall specify the number and
        class and series of Registrable Securities intended to be offered and
        sold or otherwise disposed of by BCE or one or more of its wholly-owned
        Subsidiaries and the intended method of disposition thereof), CGI shall
        use its best efforts, subject to the Securities Laws, to include such
        Registrable Securities in the Registration Statement covering the Securities
        which are the subject of such Disposition and to take such actions as
        may be necessary or appropriate under the relevant Securities Laws in
        order to permit the offer and sale or other disposition by BCE and one
        or more of its wholly-owned Subsidiaries of the Registrable Securities
        contemplated by such written</font> </div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<font face="Arial, Helvetica, sans-serif">
<P ALIGN="CENTER">&nbsp;</P>
</font>
<hr width="100%" size=4 color=GRAY noshade>
<div align="left">
  <p>&nbsp;</p>
  <p><font face="Arial, Helvetica, sans-serif"></font></p>
</div>
<font face="Arial, Helvetica, sans-serif">
<P ALIGN="CENTER"><FONT SIZE="2">7</FONT></P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
</font>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">request.
        If any Disposition pursuant to this Section 4.1 shall be, in whole or
        in part, an underwritten public offering, CGI may require that the Registrable
        Securities contemplated by BCE&#146;s request be so included in the offering
        on the same terms and conditions as its Securities offered and sold through
        underwriters.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>4.2</b></font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>
        Restrictions</b>. CGI may at any time prior to the effective date of any
        such Disposition, in its sole discretion and without the consent of, and
        liability, to BCE, abandon the proposed Disposition in which BCE had requested
        to participate.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">If
        CGI is advised in writing (with a copy to BCE within three (3) days after
        BCE delivers its request pursuant to Section 4.1) by the managing underwriter
        or underwriters that, in its or their opinion, the inclusion of the Registrable
        Securities proposed to be sold would materially adversely affect the offering,
        then CGI will include in such Disposition <u>first</u>, all of the Securities
        proposed to be sold by CGI pursuant to such Disposition, and <u>second</u>,
        the number of such Registrable Securities requested to be included in
        such Disposition that CGI is so advised by such managing underwriter or
        underwriters can be sold in or during the time of such Disposition without
        materially adversely affecting such Disposition.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><strong>4.3</strong></font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Choice
        of Underwriters and Counsel.</strong> In the case of an underwritten public
        offering, CGI shall have the exclusive right to select the managing underwriter
        or underwriters and counsel to be used in connection with such offering.</font>
      </div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><u>ARTICLE
        5</u></strong></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><div align="center"></div></td>
    <td width="75%"><div align="center"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="center"><font face="Arial, Helvetica, sans-serif"><font size="2"><b><u>REGISTRATION
        PROCEDURES</u></b></font></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>5.1</b></font></font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Registration
        Procedures</b>. Whenever CGI is under an obligation pursuant to the provisions
        of this Agreement to use its best efforts to effect the qualification
        for sale or other disposition of any of the Registrable Securities, CGI
        shall, as expeditiously as is practicable, do the following:</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>(a)</b></font></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">prepare and file with
      the relevant Commissions Registration Statements (provided that prior to
      any such filing, CGI will furnish a copy thereof to BCE), to use its best
      efforts to cause such Registration Statements to become effective at the
      earliest practicable date and to remain effective for the period needed
      to effect the requested disposition of Registrable Securities up to a maximum
      period of one (1) year;</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font face="Arial, Helvetica, sans-serif"><font size="2"><b>(b)</b></font></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">prepare and file with
      the relevant Commissions any necessary amendments and supplements to the
      aforesaid Registration Statements (provided that prior to any such filing,
      CGI will furnish a copy thereof to BCE) and otherwise to use its best efforts
      to keep such Registration Statements current for the period needed to effect
      the requested disposition of Registrable Securities, up to a maximum period
      of one (1) year;</font></td>
  </tr>
</table>
<font face="Arial, Helvetica, sans-serif">
<P ALIGN="left">&nbsp;</P>
</font><font face="Arial, Helvetica, sans-serif"><font size="2"> </font></font>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp; </P>
<P ALIGN="center"><FONT size="2" FACE="Arial, Helvetica, sans-serif">8</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>(c)
      </b></font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">furnish
        to BCE such number of copies of each of the aforesaid Registration Statements
        (including one originally executed copy) and such other documents as BCE
        may reasonably request in order to facilitate the offer and sale or other
        disposition of the Registrable Securities;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>(d)
      </b></font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">provided
        that the United States is a Jurisdiction, use its best efforts to register
        or qualify such Registrable Securities for offer and sale under such &#147;blue
        sky&#148; laws or similar laws of such states of the United States as
        BCE or any underwriter shall reasonably (in light of the intended plan
        of distribution) request, provided, however, that CGI will not be required
        to (i) qualify generally to do business in any jurisdiction where it would
        not otherwise be required to qualify but for this paragraph (d), (ii)
        subject itself to taxation in any such jurisdiction where it would not
        otherwise be required to subject itself to taxation but for this paragraph
        (d), (iii) consent to general service of process in any such jurisdiction
        where it would not otherwise be required to consent to general service
        of process but for this paragraph (d), or (iv) register or qualify the
        Registrable Securities under &#147;such &#147;blue sky&#148; laws or similar
        laws of more than fifteen (15) states of the United States (excluding
        states in which the Registrable Securities are exempt from registration
        in light of the intended plan of distribution);</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>(e)
      </b></font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">notify
        BCE promptly of the happening of any event as a result of which any of
        the aforesaid Registration Statements includes an untrue statement of
        a material fact or omits to state a material fact required to be stated
        therein or necessary to make the statements therein not misleading in
        light of the circumstances under which they were made, and to promptly
        prepare and file with the relevant Commissions a supplement to or amendment
        of such document which shall correct such untrue statement or eliminate
        such omission, and furnish to BCE as many copies of such supplement or
        amendment as BCE shall request;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>(f)
      </b></font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">furnish,
        at the request of BCE on the effective date of the aforesaid Registration
        Statements and, if the Registrable Securities are being sold through underwriters,
        on the date that the subject Registrable Securities are delivered to the
        underwriters for sale pursuant thereto, such opinions, letters and certificates
        as are customarily delivered to underwriters, or, if there are no underwriters,
        such opinions, letters and certificates as are then customary for offerings
        of the type covered by such Registration Statements;</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>(g)</b></font></td>
    <td width="75%" valign="top">
<div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">make available
        for inspection during its regularly scheduled business hours by BCE or
        any underwriter participating in any disposition pursuant to such Registration
        Statement by BCE (collectively, the &#147;Inspectors&#148;), all financial
        and other records, pertinent corporate documents and properties of CGI
        (collectively, the &#147;<b>Records</b>&#148;) as shall be reasonably
        necessary to enable them to exercise their due diligence responsibility,
        and cause CGI&#146;s officers, directors and employees to supply all information
        reasonably requested by any Inspector in connection with such Registration
        Statement. Records which CGI determines, in good faith, to be confidential
        and which it notifies the Inspectors are confidential shall not be disclosed
        by the Inspectors unless (i) following consultation with CGI and its</font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT"><FONT size="2" FACE="Arial, Helvetica, sans-serif"> </FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif">9</FONT></P>
<font size="2" face="Arial, Helvetica, sans-serif"> </font>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">counsel
        the disclosure of such Records is necessary to avoid or correct a material
        misstatement or omission in such Registration Statement or (ii) the release
        of such Records is ordered pursuant to a subpoena or other order from
        a court of competent jurisdiction. BCE agrees that information obtained
        by it as a result of such inspections shall be deemed confidential and
        shall not be used by it as the basis for any market transactions in the
        Securities of CGI or its affiliates unless and until such information
        is made generally available to the public. BCE further agrees that it
        will, upon learning that disclosure of such Records is sought in a court
        of competent jurisdiction, give notice to CGI and allow CGI, at its expense,
        to undertake appropriate action to prevent disclosure of the Records deemed
        confidential. BCE and the Underwriters, respectively, shall execute and
        deliver to CGI a confidentiality agreement in a form provided by CGI which
        agreement shall provide for adequate monetary and equitable remedies against
        BCE and the Underwriters, respectively, in the event of disclosure of
        confidential information in violation of such Agreement; </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>(h)</b></font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">take
        such other actions and execute and deliver such other documents as may
        be necessary to give full effect to the rights of BCE under this Agreement.</font>
      </div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>
      5.2 </b></font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Rights
        and Obligations of BCE</b>. BCE, for and on behalf of itself and its relevant
        wholly-owned Subsidiaries, will furnish to CGI such information and execute
        such documents regarding the Registrable Securities and the intended method
        of disposition thereof as CGI may reasonably request in order to effect
        the requested qualification for sale or other disposition. If an underwritten
        public offering is contemplated, BCE, for and on behalf of itself and
        its relevant wholly-owned Subsidiaries, shall have the right to withdraw
        therefrom at any time prior to two (2) days before the signing of the
        underwriting agreement, without incurring any obligation to CGI or any
        proposed underwriter, except as set forth in Section 6.2.</font> </div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>5.3</b></font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Temporary
        Suspension of Distribution</b>. CGI shall promptly notify BCE in writing
        <b>(a) </b>of the issuance by any Commission of any stop order suspending
        the effectiveness of the Registration Statement, or the initiation of
        any proceedings for that purpose, <b>(b) </b>of the receipt by CGI of
        any notification with respect to the suspension of the qualification of
        the Registrable Securities for sale in such offering in any Jurisdiction
        or the initiation or threatening of any proceeding for such purpose, and
        <b>(c) </b>of the occurrence of any event which makes a statement of a
        material fact made in such Registration Statement or amendment or supplement
        thereto or any document incorporated therein by reference untrue or which
        results in the omission of a statement of a material fact required to
        be stated therein or necessary to make the statements therein, in the
        light of the circumstances under which they were made, not misleading.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">BCE
        agrees that, upon receipt of any notice from CGI of the happening of any
        event of the kind described in (a), (b) or (c) above, BCE will, and will
        ensure that its relevant wholly-owned Subsidiaries will, forthwith discontinue
        disposition of the Registrable Securities pursuant to such Registration
        Statement until such time as CGI notifies BCE in writing that it may recommence
        disposition of Registrable Securities or BCE&#146;s receipt of the copies
        of the supplemented or amended Registration Statement contemplated by</font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp; </P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif">10</FONT></P>
<P ALIGN="center">&nbsp;</P>
<P ALIGN="center">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Section
        5.1(e) hereof, and, if so directed by CGI, BCE will deliver to CGI all
        copies, other than permanent file copies then in the possession of BCE
        and its relevant wholly-owned Subsidiaries, of the most recent Registration
        Statement covering such Registrable Securities at the time of receipt
        of such notice. In the event CGI shall give such notice, CGI shall, to
        the extent permitted by law, extend the period during which such Registration
        Statement shall be maintained effective by the number of days during the
        period from and including the date of the giving of notice pursuant to
        Section 5.3 hereof to the date when CGI shall make available to BCE a
        Registration Statement supplemented or amended to conform with the requirements
        of Section 5.1(e) hereof.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><u>ARTICLE
        6</u></strong></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><u>EXPENSES</u></strong></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">6.1</font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Expenses</b>.
        In connection with any Registration Statement which includes any Registrable
        Securities, CGI shall pay the following registration expenses incurred
        in connection therewith (the &#147;<b>Registration Expenses</b>&#148;)
        by CGI, BCE or the relevant wholly-owned Subsidiary of BCE: (i) all registration
        and filing fees (including all expenses incident to listing with the Securities
        Exchanges), (ii) fees and expenses of compliance with Securities Laws,
        and &#147;blue sky&#148; and similar laws (including reasonable fees and
        disbursements of counsel to CGI in connection with the qualifications
        of the Registrable Securities), (iii) printing expenses, (iv) internal
        expenses of CGI (including salaries and expenses of officers and employees),
        (v) fees and disbursements of independent certified public accountants
        and other experts retained by CGI, and (vi) any stamp duty or transfer
        tax; the whole to the extent permitted by applicable law. </font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">6.2</font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Restrictions</b>.
        CGI&#146;s obligation to pay the aforesaid expenses shall be limited,
        in the case of a Demand Registration effected pursuant to Article 2 hereof,
        to three (3) Demand Registrations. Furthermore, CGI shall not be required
        to pay any Registration Expenses if, as a result of the withdrawal of
        a request for registration by BCE, the Registration Statement does not
        become effective, in which case BCE shall bear such Registration Expenses
        pro rata on the basis of the number of Registrable Securities so included
        in the Registration Statement. All underwriting discounts, underwriters&#146;
        fees and selling commissions applicable to the Registrable Securities
        covered by any such qualification procedure and the fees and expenses
        of counsel to BCE and out-of-pocket expenses of BCE shall be borne by
        BCE.</font> </div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">6.3</font></td>
    <td><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">A
        registration will not count as a Demand Registration until it has become
        effective unless it was not consummated for reasons other than those related
        to market conditions and provided that all expenses incurred in relation
        to the Registration Statement which includes such Registrable Securities
        shall have been reimbursed to CGI.</font></div></td>
  </tr>
</table>
<P ALIGN="left">&nbsp; </P>
<P ALIGN="LEFT">&nbsp;</P>
<font size="2" face="Arial, Helvetica, sans-serif"> </font>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif">11</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>ARTICLE
        7</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>INDEMNIFICATION</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>
      7.1 </b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Indemnification
        by CGI</b>. CGI shall so far as it is permitted by law <b>(a) </b>indemnify
        and hold harmless BCE and its wholly-owned Subsidiaries which hold Registrable
        Securities covered by a Registration Statement filed pursuant to this
        Agreement, their officers and directors and each other person controlling
        any of them, from and against any losses, claims, damages and liabilities
        (&#147;Damages&#148;), joint or several, including reasonable attorneys&#146;
        fees and expenses and all other costs and expenses reasonably incurred
        by them in connection with investigating or defending any such Damages,
        to which they or any of them may become subject under the Securities Laws
        or other applicable laws or regulations, at law or otherwise, insofar
        as such Damages arise out of or are based upon any untrue statement or
        alleged untrue statement of a material fact contained in any Registration
        Statement, or any amendment thereof or supplement thereto, in relation
        to the offer and sale or other disposition of any of the Registrable Securities
        contemplated hereby, or any omission or alleged omission to state therein
        a material fact required to be stated therein or necessary to make the
        statements therein under the circumstances under which they were made
        not misleading, or any violation by CGI of any applicable Securities Laws
        relating to any action or inaction required of CGI in connection with
        such offer, sale or other disposition under such laws; and <b>(b) </b>reimburse
        each such indemnified Party, as and when incurred, for any legal or other
        costs and expenses reasonably incurred by them in connection with investigating
        or defending any such loss, claim, damage, or liability; <u>provided</u>,
        however that CGI shall not be liable in any such case to the extent that
        any such loss, claim, damage, or liability arises out of or is based upon
        (i) any such untrue statement or alleged untrue statement or omission
        or alleged omission made in said documents in reliance upon and in conformity
        with information relating to BCE or any of its subsidiaries or to the
        underwriters of the Registrable Securities which is furnished to CGI by
        or on behalf of BCE or by or on behalf of such underwriters specifically
        for use in the preparation thereof; or (ii) the failure of BCE or of the
        relevant wholly-owned Subsidiary of BCE to comply with a prospectus delivery
        requirement imposed on it under applicable Securities Laws, if any, including
        any failure to deliver, after delivery of a Registration Statement, an
        amended Registration Statement containing corrected, modified or amended
        disclosure with respect to any material fact.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>7.2</b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Indemnification
        by BCE</b>. BCE agrees to indemnify and hold harmless CGI, its officers
        and directors, and each person, if any, who controls CGI from and against
        any Damages, joint or several, including reasonable attorneys fees and
        expenses and all other costs and expenses reasonably incurred by them
        in connection with investigating or defending any such Damages, to the
        same extent as the foregoing indemnity from CGI to BCE, but only insofar
        as such Damages arise out of or are based upon information relating to
        BCE or the relevant wholly-owned Subsidiary of BCE furnished by or on
        behalf of BCE or the relevant wholly-owned Subsidiary of BCE expressly
        for use in any Registration Statement relating to Registrable Securities,
        or any amendment or supplement thereto. BCE also agrees to indemnify and
        hold harmless any underwriters of Registrable Securities, their officers
        and directors and each person who controls such underwriters on substantially
        the same basis as that of the indemnification of CGI provided in Section
        7.1, <b><u></u></b></font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT"><FONT SIZE="2" face="Arial, Helvetica, sans-serif"><B> </B></FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif">12</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">but
        only with reference to information relating to BCE or the relevant wholly-owned
        Subsidiary of BCE furnished by or on behalf of BCE or the relevant wholly-owned
        Subsidiary of BCE expressly for use in any Registration Statement relating
        to Registrable Securities or any amendment or supplement thereto.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>7.3</b></font></td>
    <td colspan="2"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Assumption
        of Defense</b>. If any action, suit or proceeding (including any governmental
        investigation) is instituted, or any claim or demand is made (any such
        action, suit, proceeding, claim or demand, an &#147;<b>Action</b>&#148;),
        against any person who may be entitled to indemnification pursuant to
        Article 7 hereof (an &#147;<b>Indemnified Party</b>&#148;), the Indemnified
        Party shall promptly notify in writing the other party (the &#147;<b>Indemnifying
        Party</b>&#148;) and the Indemnifying Party shall have the right to assume
        and control the defence for such Action, including the appointment of
        counsel reasonably satisfactory to the Indemnified Party and the payment
        of all expenses. The Indemnified Party shall have the right to select
        separate counsel and to participate in the defense of any such Action;
        provided, however, that the fees and expenses of such counsel shall be
        borne by the Indemnified Party, except that where:</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(i)</font></td>
    <td width="75%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">the
      Indemnifying Party shall have specifically authorised the retention of such
      legal advisers; </font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(ii)
      </font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">the
        Indemnifying Party shall have failed to assume the defence of such Action
        within a reasonable time of having been giving notice in writing of such
        Action; or</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">(iii)
      <b></b></font></td>
    <td width="75%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">the
        named Parties to such Action (including any Parties joined in the proceeding)
        include both the Indemnified Party and the Indemnifying Party and representation
        of both Parties by the same legal advisers would be inappropriate due
        to actual or potential differing interests between them,</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">then the
      Indemnifying Party shall pay all reasonable fees and expenses of such legal
      advisers.</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>ARTICLE
        8</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><div align="center"></div></td>
    <td width="75%"><div align="center"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="2"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>OTHER
        RIGHTS</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.1</b></font></td>
    <td colspan="2" valign="top">
<div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Third
        Party Registration Rights</b>. Except with the prior written consent of
        BCE, which shall not be unreasonably withheld, CGI shall grant no registration
        rights to holders, present or future, of any of the Securities which would
        rank prior to, or pari passu with, the registration rights granted hereby.</font></div></td>
  </tr>
  <tr>
    <td width="15%" valign="top">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="75%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.2</b></font></td>
    <td colspan="2" valign="top">
<div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Participation
        in Underwritten Registrations</b>. BCE or the relevant wholly-owned Subsidiary
        of BCE may not participate in any underwritten registration hereunder
        unless it <b>(a) </b>agrees to sell the Registrable Securities on the
        basis provided in any underwriting arrangements approved by CGI and <b>(b)
        </b>completes and executes all questionnaires, powers of attorney, indemnities,
        underwriting agreements and other documents reasonably required under
        the terms of such underwriting arrangements and this</font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT"><FONT SIZE="2" face="Arial, Helvetica, sans-serif"><B> </B> </FONT></P>
<font size="2" face="Arial, Helvetica, sans-serif"> </font>
<hr width="100%" size=4 color=GRAY noshade>
<P ALIGN="LEFT"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></P>
<p><font size="2" face="Arial, Helvetica, sans-serif"> </font><FONT SIZE="2" face="Arial, Helvetica, sans-serif"><B>
  </B></FONT><font size="2" face="Arial, Helvetica, sans-serif"> </font></p>
<p align="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif">13</FONT></p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Registration
        Rights Agreement. BCE or the relevant wholly-owned Subsidiary of BCE may
        not participate in any registration hereunder unless it furnishes CGI
        with all information required by applicable Securities Laws concerning
        the proposed methods of sale of such Registrable Securities and such other
        information as may reasonably be required by the Commissions to be included
        in such Registration Statement in accordance with applicable Securities
        Laws.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.3</b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>
        Rule 144</b>.CGI covenants that it will file all reports required to be
        filed by it under the Securities Act and applicable Securities Laws or
        provide such information as may be reasonably necessary to enable BCE
        or the relevant wholly-owned Subsidiary of BCE to sell Registrable Securities
        without registration under the Securities Act within the limitation of
        the exemptions provided by <b>(a) </b>Rule 144 under the Securities Act,
        as such Rule may be amended from time to time, or <b>(b) </b>any similar
        rule or regulation hereafter adopted by the SEC. Upon BCE&#146;s request,
        CGI will deliver to it a written statement as to whether it has complied
        with such requirements.</font></div></td>
  </tr>
  <tr>
    <td width="15%" valign="top">&nbsp;</td>
    <td width="85%"><div align="justify"></div></td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.4</b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Restrictions
        on Public Sale by BCE</b>. To the extent not inconsistent with applicable
        Securities Law, if any Registrable Securities are included in a Demand
        Registration (in accordance with Section 2.1), in an IPO (in accordance
        with Section 3.1) or in an Incidental Registration (in accordance with
        Section 4.1), BCE will agree not to, and will ensure that its wholly-owned
        Subsidiaries which hold Registrable Securities will agree not to, effect
        any public sale or public distribution of the Registrable Securities being
        registered or a similar Security of CGI, or any Securities convertible
        into or exchangeable or exercisable for such Registrable Securities, including
        a sale pursuant to Rule 144 under the Securities Act, during the 30 days
        prior to, and during the 120-day period beginning on, the effective date
        of the subject Registration Statement (except pursuant to such Registration
        Statement), if and to the extent reasonably requested by the managing
        underwriter or underwriters in the case of an underwritten public offering.
        BCE agrees to indemnify and hold harmless CGI and the underwriters for
        any damages, costs or expenses including reasonable attorney fees, as
        incurred, caused to CGI or such underwriters by a breach of the foregoing
        which results in a violation of Rule 10b-6 of the Securities Act.</font></div></td>
  </tr>
  <tr>
    <td width="15%" valign="top">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>8.5</b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Restrictions
        on Public Sale by CGI</b>. CGI agrees, if and to the extent reasonably
        requested by the managing underwriter or underwriters in the case of an
        underwritten public offering, not to effect any public sale or public
        distribution of any Securities of the same class and series of the Registrable
        Securities being registered in accordance with the Demand Registration
        or the IPO requested by BCE or one or more of its wholly-owned Subsidiaries
        provided for in Section 2.1, or similar Security of CGI, or any Securities
        convertible into or exchangeable or exercisable for such Securities, during
        the 30 days prior to, and during the 120-day period beginning on, the
        effective date of the subject Registration Statement or the commencement
        of a public distribution of Registrable Securities, provided that the
        provisions of this Section 8.5 shall not prevent the conversion, exercise
        or exchange of any Securities pursuant to their terms into or for other
        Securities.</font></div></td>
  </tr>
</table>
<p align="left">&nbsp;</p>
<p align="left">&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p align="left">&nbsp; </p>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif">14</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>ARTICLE
        9</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>DURATION;
        ASSIGNMENT</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>9.1
      </b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Duration</b>.
        Except as otherwise specifically<u> </u>provided herein, the rights of
        BCE under this Agreement shall continue so long as BCE, or any of its
        wholly-owned Subsidiaries to which it has transferred Registrable Securities
        and to which BCE has assigned in writing all or any part of its rights
        and obligations under this Agreement in connection therewith (a &#147;<b>Permitted
        Assignee</b>&#148;) holds any Securities.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>ARTICLE
        10</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>CHANGE
        IN CAPITALISATION</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>10.1</b></font></td>
    <td width="85%" valign="top"> <div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Change
        in Capitalisation</b>. In the event of any stock split, stock dividend,
        recapitalisation or other change in CGI&#146;s capital structure affecting
        the Registrable Securities, <b>(a) </b>the term &#147;<b>Registrable Securities</b>&#148;
        as used herein shall be deemed to include any Securities which the holders
        thereof receive or are entitled to receive as a result of such event,
        and <b>(b) </b>there shall be an appropriate adjustment in the number
        of shares of capital stock specified in any provision of this Agreement
        under which the effectiveness or enforceability of a right granted to
        any such holder or an agreement, covenant or obligation of CGI is stated
        to depend upon ownership by any such holder of a specified number of shares
        of capital stock.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>ARTICLE
        11</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>NOTICES</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>11.1</b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Notices</b>.
        Any notice, request, demand, or other communication to or upon the Parties
        required hereunder shall be in writing and shall be delivered by hand
        or by courier service or telecopier, addressed as follows or to such other
        address as the notified Party shall have communicated to the other Party:</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">If
      to BCE:</font></td>
    <td colspan="2"><strong><font size="2" face="Arial, Helvetica, sans-serif">BCE
      Inc.<br>
      </font></strong><font size="2" face="Arial, Helvetica, sans-serif">1000
      de la Gauchetiere West<br>
      Suite 3700<br>
      Montreal, Quebec<br>
      H3B 4Y7 </font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="55%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif">Attention:</font></td>
    <td width="55%"><font size="2" face="Arial, Helvetica, sans-serif">Corporate
      Secretary</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif">Fax No.:</font></td>
    <td width="55%"><font size="2" face="Arial, Helvetica, sans-serif">(514) 397-7057</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="55%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">with
      a copy to:</font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Bell
      Canada</strong><br>
      1800 McGill College Avenue<br>
      Suite 1830<br>
      Montreal, Quebec<br>
      H3A 3J6 </font></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT"><FONT SIZE="2" face="Arial, Helvetica, sans-serif"> <B><U> </U></B><B><U>
  </U></B><B><U> </U></B></FONT></P>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif">15</FONT></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif">Attention:</font></td>
    <td width="55%"><font size="2" face="Arial, Helvetica, sans-serif">Vice-President
      and General Counsel</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="15%"><font size="2" face="Arial, Helvetica, sans-serif">Fax No.:
      </font></td>
    <td width="55%"><font size="2" face="Arial, Helvetica, sans-serif">(514) 288-1260</font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="55%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">If
      to CGl:</font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><strong>The
      CGI Group Inc.</strong><br>
      1130 Sherbrooke Street West<br>
      Suite 500<br>
      Montreal, Quebec<br>
      H3A 2M8 </font></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="55%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="15%">&nbsp;</td>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif">Attention:</font></td>
    <td width="55%"><font size="2" face="Arial, Helvetica, sans-serif">Executive
      Vice President and<br>
      Chief Financial Officer </font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Fax No.:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(514) 841-3294</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif">With a
      copy to:</font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><strong>McCarthy
      Tetrault</strong><br>
      "Le Windsor"<br>
      1170 Peel Street<br>
      5th Floor <br>
      Montreal, Quebec<br>
      H3B 4S8 </font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Attention:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Christiane Jodoin</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Fax No.:</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">(514) 397-4235</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif">Any
        such notice shall be deemed to have been given when delivered or, if delivery
        is not accepted by reason of the fault of the addressee, when tendered.</font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><u>ARTICLE
        12</u></strong></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%"><div align="center"></div></td>
    <td width="10%"><div align="center"></div></td>
    <td width="65%"><div align="center"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td colspan="3"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">
        <u><strong>GOVERNING LAW</strong></u></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><strong>12.1</strong></font></td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Governing
        Law</strong>. This Agreement shall be governed by and construed in accordance
        with the laws of the Province of Qu&eacute;bec and the laws of Canada
        applicable therein. This Agreement has been drafted in English at the
        express wish of the Parties. Ce contrat a &eacute;t&eacute; r&eacute;dig&eacute;
        en anglais &aacute; la demande expresse des parties.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="10%">&nbsp;</td>
    <td width="65%">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="3"><div align="center"><strong><font size="2" face="Arial, Helvetica, sans-serif"><u>ARTICLE
        13</u></font></strong></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><div align="center"></div></td>
    <td><div align="center"></div></td>
    <td><div align="center"></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="3"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>SUCCESSORS
        AND ASSIGNS</u></b></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>13.1</b></font></td>
    <td colspan="3"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Successors
        and Assigns</strong>. This Agreement shall be binding upon and inure to
        the benefit of CGI and its successors and BCE Inc., its successors and
        permitted assigns.</font></div></td>
  </tr>
</table>
<p><font size="2" face="Arial, Helvetica, sans-serif"> </font> </p>
<p>&nbsp;</p>
<hr width="100%" size=4 color=GRAY noshade>
<p><font size="2" face="Arial, Helvetica, sans-serif"> </font></p>
<font size="2" face="Arial, Helvetica, sans-serif"><BR>
</font>
<P ALIGN="center"><FONT SIZE="2" face="Arial, Helvetica, sans-serif">16</FONT></P>
<P ALIGN="LEFT">&nbsp;</P>
<P ALIGN="LEFT">&nbsp;</P>
<table width="99%" border="0">
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><p align="center"><u><strong><font size="2" face="Arial, Helvetica, sans-serif">ARTICLE
        14</font></strong></u></p></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><u></u></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><u><strong><font size="2" face="Arial, Helvetica, sans-serif">SEVERABILITY</font></strong></u></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><strong>14.1</strong></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Severability</strong>.
        The invalidity or unenforceability of any provision, in whole or in part,
        of this Agreement shall not in any way affect the validity or enforceability
        of any other parts or provisions thereof; provided, however, that the
        Parties shall use their best efforts to achieve the purpose of the invalid
        or unenforceable provision or part thereof by a new valid and enforceable
        stipulation.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><u>ARTICLE
        15</u></strong></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>ENTIRE
        AGREEMENT; ORAL EXPLANATION; AMENDMENTS;<br>
        HEADINGS</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>15.1</b></font></td>
    <td width="85%"><font size="2" face="Arial, Helvetica, sans-serif"><b>Entire
      Agreement; Oral Explanation; Amendments</b>. This Agreement constitutes
      the entire agreement of the Parties with respect to the subject matter covered
      herein. No oral explanation or oral information by either of the Parties
      shall alter the meaning or interpretation of this Agreement. No amendment
      or change hereof or addition hereto shall be effective or binding on either
      of the Parties unless reduced to writing and executed by the respective
      duly authorised representatives of both Parties.</font> </td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>15.2</b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Headings</b>.
        Headings in this Agreement are for convenience only and shall not affect
        the meaning or interpretation of this Agreement.</font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>ARTICLE
        16</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>REMEDIES
        AND WAIVERS</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>16.1</b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Remedies
        and Waivers</b>. No delay or omission on the part of any Party to this
        Agreement in exercising any right, power or remedy provided by law or
        under this Agreement shall impair such right, power or remedy or operate
        as a waiver thereof. The single or partial exercise of any right, power
        or remedy provided by law or under this Agreement shall not preclude any
        other or further exercise thereof or the exercise of any other right,
        power or remedy. The rights, powers and remedies provided in this Agreement
        are cumulative and not exclusive of any rights, powers and remedies provided
        by law.</font> </div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>ARTICLE
        17 </u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><b><u>IMPLEMENTATION
        OF THIS AGREEMENT</u></b></font></div></td>
  </tr>
  <tr>
    <td width="15%">&nbsp;</td>
    <td width="85%">&nbsp;</td>
  </tr>
  <tr>
    <td width="15%" valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><b>17.1</b></font></td>
    <td width="85%"><div align="justify"><font size="2" face="Arial, Helvetica, sans-serif"><b>Implementation
        of this Agreement</b>. The Parties agree to do or cause to be done any
        and all acts and things necessary or desirable for implementation of the
        understandings of the Parties set forth herein, including, but not limited
        to, the execution of all agreements and other documents as may be necessary
        to implement such understandings.</font></div></td>
  </tr>
</table>
<P ALIGN="LEFT">&nbsp; </P>
<P ALIGN="LEFT"><FONT SIZE="2" face="Arial, Helvetica, sans-serif"><B><U> </U></B></FONT></P>
<font size="2" face="Arial, Helvetica, sans-serif"> </font>
<hr width="100%" size=4 color=GRAY noshade>
<p>&nbsp;</p>
<p>&nbsp;</p>
<P ALIGN="LEFT"><FONT SIZE="2" face="Arial, Helvetica, sans-serif">IN WITNESS
  WHEREOF, the Parties have caused this Agreement to be executed by their duly
  authorised representatives as of the day and year first set forth above.</FONT>
</P>
<table width="99%" border="0">
  <tr>
    <td colspan="3"><font size="2" face="Arial, Helvetica, sans-serif"><strong>BCE
      INC.</strong></font></td>
    <td width="2%">&nbsp;</td>
    <td colspan="3"><font size="2" face="Arial, Helvetica, sans-serif"><strong>THE
      CGI GROUP INC.</strong></font></td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="38%">&nbsp;</td>
    <td width="2%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="38%">&nbsp;</td>
    <td width="2%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="38%"><font face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td width="2%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%"><font size="2" face="Arial, Helvetica, sans-serif">By</font><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">:</font></font></td>
    <td colspan="2"><font face="Arial, Helvetica, sans-serif"><font size="2" face="Arial, Helvetica, sans-serif">(signed)
      Bill Anderson</font></font></td>
    <td width="2%">&nbsp;</td>
    <td width="5%"><font size="2" face="Arial, Helvetica, sans-serif">By:<font face="Arial, Helvetica, sans-serif"></font></font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif">(signed)
      Andr&eacute; Imbeau</font></font></td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td colspan="2"><hr noshade size=1></td>
    <td width="2%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td colspan="2"><hr noshade size=1></td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">Bill Anderson</font></td>
    <td width="2%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">Andr&eacute;&nbsp;Imbeau</font></td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="38%">&nbsp;</td>
    <td width="2%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="38%">&nbsp;</td>
    <td width="2%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td colspan="3"><font size="2" face="Arial, Helvetica, sans-serif"><b>BELL
      CANADA</b></font></td>
    <td width="2%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="38%">&nbsp;</td>
    <td width="2%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="38%">&nbsp;</td>
    <td width="2%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td width="40%">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><font size="2" face="Arial, Helvetica, sans-serif">By:</font></td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">(signed)
      David W. Drinkwater</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><hr noshade size=1></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><font size="2" face="Arial, Helvetica, sans-serif">David W. Drinkwater</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
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