Standard Life adds to its critical illness insurance coverage options

MONTREAL, April 8, 2002 – The Standard Life Assurance Company is pleased to announce the addition
of several new coverage options to its “Protecta” critical illness insurance.

Adults can now select from plans providing coverage for 4, 18 or 22 critical illnesses.
And, plans covering 13 critical illnesses are now available for children under 18 years of age.

“For many people, critical illness insurance can
provide peace of mind,” says Alain Brunet, Senior Vice-President Marketing, Standard
Life. “We are pleased that we can offer varying degrees of coverage to suit varying
individual and family needs.”

Included in all “Protecta” critical illness
Insurance options is access to Best Doctors(R), a service that guides the insured through
the crucial process of finding and accessing the best and most up-to-date medical care
possible – whether in Canada, in the United States or overseas.

“Protecta” critical illness insurance is
available with sums insured from $25,000 to $2,000,000 (for adults) and features Standard
Life’s exclusive Six- month Total Customer Satisfaction Guarantee. It can be purchased as
a policy in itself or as a rider attached to another “Protecta” policy or
Standard Life’s “Perspecta” Universal Life or “Preferred Term 10/20” products.

In Canada, Standard Life has over $28 billion in assets
under management and offers a wide range of financial products and services to more than 1
million clients. Its 2,200 employees are committed to providing superior customer service
from its headquarters in Montreal, its Calgary and Toronto regional offices, as well as
from its 20 sales offices across the country. Standard Life’s products and services
include group savings and retirement, group life and health, individual life insurance,
savings and retirement. Through affiliated companies, it also offers mutual funds and
portfolio management services. Total premium income and deposits reached $3.7 billion in
2001. (

Standard Life is part of the Standard Life Group founded in
Edinburgh (Scotland) in 1825. The Group has over 12,000 employees, more than $189 billion
in assets under management and over 5 million customers in, among others, the United
Kingdom, Canada, Ireland, Germany, Austria, Spain, India and Hong Kong. The Group has also
established two representative offices in China. Total premium income reached close to $19
billion in 2001. (