Empire Life announces two new funds available in Class Plus� to help Canadians reach their retirement goals

July 14, 2010 – Kingston, Ontario – The Empire Life Insurance Company (Empire Life) today announced two new segregated funds available in Class Plus, its guaranteed minimum withdrawal benefit feature within its Empire Class Segregated Funds product.

The new balanced funds combine an Empire Life flagship equity fund with core fixed income exposure for diversification. The Empire Life Dividend Balanced Fund is comprised of 80% Empire Life Dividend Growth Fund and 20% Empire Life Bond Fund. The Empire Life Elite Balanced Fund is comprised of 80% Empire Life Elite Equity Fund and 20% Empire Life Bond Fund.

Both new balanced funds will be managed by the Empire Life investment team, led by Chief Investment Officer, Gaelen Morphet, using a value-oriented, disciplined investment approach.

�Making our most popular funds available to our Class Plus customers is another way we can help Canadians meet their retirement goals,� said Julie Yoshikuni, Vice-President, Retail Wealth Marketing. �I am pleased we responded to the demand for these funds and this marks our second enhancement to Class Plus this year.

Empire Life launched Class Plus in October 2008 in response to the growing demand for a solution that provides growth potential and guaranteed retirement income for life. In addition to the newly added features above, Class Plus offers a 100% death benefit guarantee (final reset at age 80), triennial resets on the Income Base to lock in gains, no pro-rating of the Income Base Bonus, and an accessible minimum purchase amount with highly competitive fees.

About Empire Life

A subsidiary of E-L Financial Corporation Limited and in business since 1923, Empire Life helps Canadians build wealth and protect their financial security with competitive individual and group life and health insurance, investment and retirement products. The Company�s vision is to be the leading independently-owned Canadian financial services company committed to simplicity, being easy to do business with and having a personal touch. www.empire.ca.