Sun Life Financial Launches Internet Dental Claim Process – First of its kind in Canada

(TORONTO – May 4, 2001) – Sun Life Assurance Company of Canada,
a member of the Sun Life Financial group of companies, announced today the launch of a
completely Internet-based dental claims submission and payment process for plan members
– the first of its kind – in Canada.

Plan members will be able to submit their dental claims online – directly to Sun Life
Financial – with easy-to-use screens to guide them through the process. Using the
Internet, plan members connect directly into Sun Life Financial’s claims payment
system, providing real-time adjudication and calculation of their reimbursement, with no
intermediary system involved. Payment is deposited directly to the plan member’s bank
account, usually that night, with an e-mail confirmation of the deposit and access to the
Explanation of Benefit sent electronically.

“Sun Life Financial is committed to
offering leading-edge Internet services for plan members,” says Greta Cusworth,
Vice-President, Group Benefits. “By allowing members to submit claims online, we are making the
dental claims payment process fast and easy – streamlining the process while leveraging our existing claims
adjudication and risk management experience and expertise. No other company offers such a
completely integrated process. This complements our long list of Internet services available to plan
members and plan sponsors.”

For plan sponsors, the new dental benefit
process increases the amount of self-service by its plan members, resulting in fewer
claims inquiries, while providing strict audit capabilities. The system also provides
personalized Co-ordination of Benefits (COB) steps for plan members with multi-plan
coverage, meaning fewer COB enquiries for plan sponsors. And the faster turnaround time
for claims adjudication and payment will result in a higher level of plan member satisfaction.

The new dental claims process is currently in the pilot stage with a few clients and
is expected to gradually roll it out to additional clients over the coming months.

Group benefit plans are administered by Sun
Life Assurance Company of Canada, a member of the Sun Life Financial group of companies
and a wholly owned subsidiary of Sun Life Financial Services of Canada Inc.

Sun Life Financial is a leading international
financial services organization providing a diverse range of wealth accumulation and
protection products and services to individuals and corporate customers. Tracing its roots
back to 1871, Sun Life Financial and its partners today have operations in key markets
worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the
Philippines, Japan, Indonesia, India, and Bermuda. As of March 31, 2001 the Sun Life
Financial group of companies has total assets under management of CDN$316 billion.

Sun Life Financial Services of Canada Inc.
trades on the Toronto (TSE), New York (NYSE) and Philippine (PSE) stock exchanges under
ticker symbol “SLC”, and on the London Stock Exchange under Ticker symbol “SFC”.

Media contacts:

John Vincic Francine Cl�roux
(416) 979-6070 (514) 866-2561