Newest Empire Life fund focuses on global dividend growth

May 7, 2007 (Kingston, ON) — The Empire Life Insurance Company (Empire Life) today announced the launch of the Empire Global Dividend Growth Fund, a low risk, low volatility segregated fund suited for investors of all risk tolerances.

“Global investing opens up the universe of stocks and allows investors to gain exposure to a variety of stock-specific and macroeconomic factors that are not present in Canada,” says Deborah Frame, Vice-President and Chief Investment Officer at Empire Life.

The Global Dividend Growth Fund invests primarily in attractively valued, high quality, mid to large cap equity investments with dividend paying opportunities. Scott Morrison, lead portfolio manager of the new fund, believes it will appeal both to investors who do not currently have global exposure in their portfolios and those who hold traditional global funds.

“The fund provides conservative investors with exposure to global investment opportunities while meeting their needs for lower risk and capital preservation,” he says, “And it provides those who are already investing in foreign equities with the diversification advantages of a global dividend fund.”

Morrison is managing the fund along with portfolio managers Ray Halley and Amber Sinha. The in-house investment management team has proven performance1 in both global and dividend fund investing. The Empire Dividend Growth Fund boasts a 5-star rating from Morningstar2 and an average annual return of 12.3% over the past five years. The Empire Global Smaller Companies Fund, introduced in October 2005, returned 12.7% in its first calendar year and is in the first quartile for 2007. 3

About Empire Life

A subsidiary of E-L Financial Corporation Limited, and in business since 1923, The Empire Life Insurance Company (Empire Life) provides financial security and wealth management solutions for the changing needs of Canadians. The Company’s success comes from a commitment to being approachable and responsive to the needs of its clients and business partners, consistently solid investment performance and faith in its employees as future leaders. For more information, please visit Global Dividend Growth Fund.

1. Past performance is no guarantee of future performance.
2. Morningstar — February 28, 2007
3. Globe Hy-Sales — Global Smaller Companies Fund, as at March 31, 2007