Agnico-Eagle Mines completes US$290 million underwritten private placement

Date Closed: 12/03/2008

Value: US$290 million

On December 3, 2008, Agnico-Eagle Mines Limited completed a $290 million underwritten private placement of 9.2 million units, each unit consisting of one common share of Agnico-Eagle and one-half of one common share purchase warrant. The lead underwriters for the private placement were Macquarie Capital Markets Canada Ltd., and the other members of the underwriting syndicate were Scotia Capital Inc., UBS Securities Canada Inc., TD Securities Inc., National Bank Financial Inc., RBC Dominion Securities Inc., BMO Capital Markets, Merrill Lynch Canada Inc., CIBC World Markets Inc., Canaccord Capital Corporation, Genuity Capital Markets, Blackmont Capital Inc. and Credit Suisse Securities (Canada) Inc.

As part of the private placement, an affiliate of the CPP Investment Board (the Lead Purchaser) purchased 3 million units and agreed to purchase any additional units not purchased by other buyers. As consideration for the Lead Purchaser's commitment, Agnico-Eagle issued to the Lead Purchaser warrants entitling it to purchase 4 million common shares.

BLG acted as Canadian counsel to the underwriters, with a team that included Philippe Tardif, Dyana McLellan and Vanessa McMinn.