Common Shrs Offering-Prices

Sun Life Fin.Services of Canada Inc
27 September 2001


                    SUN LIFE FINANCIAL PRICES $300 MILLION 
                         COMMON SHARE OFFERING


(Toronto, September 27, 2001) Sun Life Financial Services of Canada Inc. (NYSE, 
TSE; 'SLC') today announced an offering of 10,000,000 common shares at a price 
of Cdn$30.00 per share, together with an over-allotment option of up to one 
million common shares. This transaction, raising approximately Cdn$300 million, 
is to be used as a portion of the financing for the acquisition of Keyport Life 
Insurance Company ('Keyport') and Independent Financial Marketing Group, Inc. 
('IFMG'). The sale of these common shares is expected to close on Oct. 4, 2001.

'This common equity financing is another step in completing the Keyport and IFMG
acquisition, which we expect to close at the end of October,' said Donald A. 
Stewart, Chairman and Chief Executive Officer. 'The size of this offering was 
reduced from $500 to $300 million reflecting the volatile equity markets which 
have characterised the period since the tragic events of September 11. We wanted
to proceed with the implementation of our long-term strategy, and completion of 
the Keyport and IFMG acquisition represents another step toward that goal.'

Keyport is a Boston-based speciality insurance company providing a diversified 
line of fixed, indexed and variable annuity products in the U.S. As at June 30, 
2001, Keyport had US$19 billion (Cdn$27 billion) in assets under management. 
IFMG is a leading third-party marketer of insurance and investment products to 
retail customers through banks in the U.S. These acquisitions will complement 
both Sun Life Financial's product array and distribution capabilities.

The offering is being sold through a syndicate of underwriters jointly led by 
Morgan Stanley & Co. Incorporated and RBC Dominion Securities Inc.

Sun Life Financial is a leading international financial services organization 
providing a diverse range of wealth accumulation and protection products and 
services to individuals and corporate customers. Tracing its roots back to 1871,
Sun Life Financial and its partners today have operations in key markets 
worldwide, including Canada, the United States, the United Kingdom, Hong Kong, 
the Philippines, Japan, Indonesia, India, and Bermuda. As of June 30, 2001, The 
Sun Life Financial group of companies has total assets under management of 
Cdn$326 billion.

Sun Life Financial Services of Canada Inc. trades on the Toronto (TSE), New York
(NYSE) and Philippine (PSE) stock exchanges under ticker symbol 'SLC,' and on 
the London Stock Exchange under Ticker symbol 'SFC.'

Media Contacts:

John Vincic                                            Francine Cleroux 
[phone]                                          [phone]

Investor Contact:              

Thomas Rice 
[phone]