Sun Life Financial Introduces Web-Based Voluntary Benefits Products

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(TORONTO – June 12, 2001) – Sun Life
Assurance Company of Canada, a member of the Sun Life Financial group of companies, has
launched its SunAffinity package of Internet-based voluntary benefits products aimed at
approximately three million Canadian professionals who do not have access to a group benefits package.

“SunAffinity brings competitive and
flexible voluntary benefits to individuals who do not have access to this important form
of coverage because they are typically contract workers, self-employed or ineligible for
group benefits at their place of work,” said Donna Gayle, Director of Marketing,
Association and Affinity Business. “Individuals can apply for coverage easily and
conveniently through our Web site, while allowing plan sponsors to meet the needs of an
often overlooked segment of the market.”

Offering a choice of Term Life, Critical
Illness, Accidental Death & Dismemberment, and Medical and Dental Insurance, the
SunAffinity plan will be marketed through the Company’s group benefit clients as well
as brokers, consultants and plan sponsors and made available exclusively through the Internet at

With SunAffinity, the entire application and
quote process is online. At the Web site, individuals can research the various products,
choose their coverage, calculate their monthly premiums and complete and submit their
enrollment applications electronically. The privacy and safety of personal and financial
information is provided through advanced security protocols, 128-bit encryption,
firewalls, and security protection at the server site.

Presently serving more than 7,500 organizations, Sun Life Assurance Company of Canada’s
Group Division is one of the top group benefits suppliers in Canada, offering a full range of group life,
health and disability benefits.

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”.

Sun Life Financial media contacts:

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