The Industrial Alliance Group to Distribute its Group Insurance Products and Services Under a Single Brand Name

TORONTO, Oct. 8, 2003 – The Industrial Alliance Group is pleased to announce the launch of a new marketing strategy under which the group insurance products and services of its three life companies will now be distributed using a single brand name: Industrial Alliance Insurance and Financial Services. This marketing strategy will strengthen the Company’s brand recognition and position in the Canadian marketplace, as well as provide group sponsors, administrators and members with competitive benefit solutions, administrative tools and services on a nationwide basis. The Industrial Alliance Group had previously marketed its group insurance products and services under three separate brand names: Industrial Alliance in Quebec and the Atlantic provinces; National Life in Ontario; and Industrial Alliance Pacific in Western Canada.

“The move to a single brand for all our group insurance products and services is yet another step within a larger strategy that is aimed at establishing the Industrial Alliance Group as a leader in the Canadian group insurance market,” commented David Kent, Vice-President, Group Insurance. “It also reflects the close relationship that exists between companies of the Industrial Alliance Group, which has continued to evolve over the past few years.”

According to Jacques Parent, Vice-President, Sales and Underwriting: “This new marketing strategy confirms our commitment to provide superior group insurance products nationwide. In addition, it will enhance the Company’s ability to offer group clients high quality administrative tools and services. Just as importantly, our group clients will continue to benefit from the personalized, one-on-one services that are currently being offered locally, while groups with members nationwide will also be able to enjoy the same level of service through our two regional centres and the six sales and service offices that are already in place across Canada.”

The Special Markets Group (SMG) division that specializes in certain niche markets and the Group Creditor Insurance division that markets creditor insurance to automobile dealers, both of which are managed by Industrial Alliance Pacific, will not be affected by this new marketing strategy.

About the Industrial Alliance Group

The Industrial Alliance Group is among the most solid financial institutions in the country, where it is an industry leader in the fields of insurance and financial services. The Group has operations across Canada, through Industrial Alliance (Quebec City), National Life (Toronto) and Industrial Alliance Pacific (Vancouver). The sixth largest life and health insurance organization in Canada, the Industrial Alliance Group insures over 1.5 million Canadians, employs more than 2,100 people and administers $17.9 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange, under the ticker symbol IAG. Industrial Alliance is among the 100 largest public companies in Canada.