Standard Life launches new Web site for Individual Clients

MONTREAL, June 19, 2002 – Standard Life announced today the
initial deployment phase of its new Web site giving clients on-line access to information
on their Individual Life and Savings, and Retirement contracts. Standard Life’s, VIP Room,
a protected Web site, has been expanded to provide individual clients access to their
contract values, account balances, banking information, pre-authorized chequing and
systematic withdrawal plan information as well as a transaction history.

“The development of this Web site is consistent with
our Corporate values of Total Customer Satisfaction, that is, our commitment to better
serve our clients, and to make doing business with us as easy as possible,” says Jean
Guay, Senior Vice-President, Customer Services. “Since consumers are using the
Internet more and more to access personal financial information, it is essential to offer
our clients an information-based Web site providing access to their contracts.”

The Company is delighted to round out its existing
protected Web site by extending it to individual clients as well. Standard Life’s Group
Life and Health and Pension clients already have secure on-line access to a wide range of
information and transactional capabilities for some time. In addition, Standard Life
offers brokers the ClientINFO Web site, which gives them up-to- date information on their
clients’ individual portfolios.

About Standard Life:

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 Montr´┐Żal, 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, approximately $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. (