Disposal

Sun Life Fin.Services of Canada Inc
15 October 2001



         SUN LIFE FINANCIAL ANNOUNCES SALE OF UK ASSET MANAGER
                    TO CREDIT SUISSE ASSET MANAGEMENT

(TORONTO October 15, 2001) - Sun Life Financial Services of Canada Inc. (NYSE, 
TSE: 'SLC') announced today that it has signed a definitive agreement for the 
sale of its UK subsidiary Sun Life of Canada Asset Management ('SLCAM') to 
Credit Suisse Asset Management ('CSAM'), a division of Credit Suisse Group.  The
sale is subject to certain conditions, including approval from regulators in the
UK, and is expected to close in the fourth quarter.  Proceeds from the sale of 
the SLCAM are intended to be used for general corporate purposes.

'The sale of our UK asset management division is part of our strategic review of
all business units in the UK,' said Donald A. Stewart, Chairman and Chief 
Executive Officer of Sun Life Financial.  'One of our goals was to find a buyer 
willing to retain a team of seasoned portfolio managers to ensure minimum 
disruption to our clients.  We are very pleased to have found that buyer in 
Credit Suisse Asset Management.'

Based in London, SLCAM employs approximately 150 people, and is primarily 
responsible for managing assets linked to Sun Life Financial's insurance 
operations in the UK.  SLCAM has approximately £11 billion of assets under 
administration, which includes about £8.3 billion of which are related to the 
Company's UK insurance operations.

Mr. Stewart also said the Company plans to grow its UK group insurance business,
which holds a leading market position, and to continue serving the needs of its 
existing individual life insurance customers.

Credit Suisse Asset Management is the institutional asset management and mutual 
fund business unit of the Credit Suisse Group.

Cambridge International Partners Inc. of the U.S. and Norman Riddell & 
Associates Ltd. of the UK acted as financial advisors on behalf of Sun Life 
Financial for this transaction.

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.

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.'


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