Final Results

Sun Life Fin.Services of Canada Inc
4 February 2002


Sun Life Financial reports record net income of $253 million, 
or 59 cents per share, for the fourth quarter, an increase of 18 per cent


HIGHLIGHTS:

• Record full year net income of $882 million up 11 per cent 
• Record earnings per share of $2.08 per share up 9 per cent 
• Fourth quarter earnings of 59 cents per share include 3 cents 
  from Keyport/IFMG and net 2 cents from one-time items 
• Closed acquisition of Keyport/IFMG, and sold Sun Bank and SLC Asset Management 
• Issued $330 million of equity and $950 million of SLEECS 

(TORONTO - February 4, 2002) Sun Life Financial Services of Canada Inc.
(NYSE/TSE: 'SLC') today reported shareholder net income of $253 million for the
quarter ending December 31, 2001, an increase of 20 per cent over the $211
million earned in the fourth quarter in 2000. Earnings per share of 59 cents
were up 18 per cent from the 50 cents per share earned in the fourth quarter a
year ago. Earnings for the current quarter included gains on the sales of two
businesses in the U.K. which, net of charges, added $10 million, or 2 cents per
share. Excluding these gains, net income increased $32 million, or 15 per cent,
from the fourth quarter of 2000, and earnings per share increased 7 cents, or 14
per cent. 

Financial Summary

Unaudited 
                                   Quarterly Results            Full Year 
                            4Q'01     3Q'01      4Q'00        2001      2000 
  
Shareholder Net
Income ($mm)                  253       215        211         882       792 
Earnings Per Share ($)       0.59      0.51       0.50        2.08      1.90 
Revenues ($mm)              4,885     3,526      4,036      16,689    16,206 
Return on Equity(1) (%)      13.4      12.5       13.2        12.8      13.1 
Average Shares 
Outstanding (mm)            431.3     420.7      421.7       423.6     416.2 

(1)Certain ROE numbers have been restated to reflect the impact on equity of
adoption of the new standards, issued by the Canadian Institute of Actuaries,
for the valuation of policy liabilities of life insurers. 

'I am very pleased with our 2001 results, particularly in light of the difficult
economic times. The tangible results of our actions to reshape our business
profile are becoming increasingly visible,' said Donald A. Stewart, Chairman and
Chief Executive Officer. 'Keyport made an important contribution to the success
of the quarter adding a net $12 million to the quarter's earnings. In addition,
we saw solid results from our North American protection businesses. These two
factors offset the continuing revenue pressures in our wealth management
businesses caused by lower capital market valuations. While these pressures were
especially severe as we entered the fourth quarter, we ended the year on a
strong note with assets under management regaining lost ground to reach a record
$352 billion.' 

C. James Prieur, President and Chief Operating Officer observed, 'We are very
pleased with the performance of our recent Keyport/IFMG acquisition. Our ability
to get a jump on numerous integration issues through the extended approval
period put us in a position to hit the ground running at closing. The
integration program is well ahead of schedule relative to every significant
planning milestone. As a result, we are getting an earnings boost that is well
ahead of our original plans. Contributing to this achievement, IFMG's sales
through the bank channel for 2001 were up 33 per cent over 2000.' 

'Consistent and robust growth in net income and earnings per share remain our
primary financial objectives,' said Paul W. Derksen, Executive Vice-President
and Chief Financial Officer. 'Our core North American franchise turned in a
solid performance which offset investments to build our Asian businesses. In
addition, our decisive actions in the U.K. earlier in the year have meaningfully
enhanced the U.K.'s contribution to the Company's overall financial picture.' 

FINANCIAL REVIEW
--------------------------------------------------------------------------------
 
Assets Under Management 

At December 31, 2001, assets under management were $351.7 billion, an increase
of $52.5 billion or 18 per cent relative to the $299.2 billion at September 30,
2001, and an increase of $23.2 billion or 7.1 per cent relative to the $328.5
billion at December 31, 2000. Keyport added $29.7 billion to assets under
management. This increase was partially offset by the sales of Sun Bank and SLC
Asset Management, which had assets under management of $7.2 billion at December
31, 2000. The increase in assets under management has been the result of the
rebound in equity markets at year-end and continuing strong net fund sales,
which were $3.3 billion in the fourth quarter and $28.6 billion for the year. 

Revenue 

Total revenue in the fourth quarter was $4,885 million, an increase of $1,359
million, or 39 per cent, compared to the $3,526 million recorded in the quarter
ending September 30, 2001. Revenues from Keyport added $981 million; the revenue
loss from divested units was minimal. The three components of revenues -- fee
income, investment income and premiums -- each recorded increases for the
quarter. Fee revenues increased by $41 million, of which $36 million was derived
from Keyport/Independent Financial Marketing Group (IFMG). Investment income
increased by $472 million, including $247 million from Keyport/IFMG, the gain
from the sales of Sun Bank and SLC Asset Management, and increases in the market
value of the Company's equity portfolio. Premium revenues included an increase
of $678 million in annuity premiums and an increase of $168 million in life and
health insurance premiums. Annuity premiums in the fourth quarter increased by
$293 million compared to annuity premiums recorded in the fourth quarter of
2000, of which Keyport contributed $716 million. Keyport's contribution was
offset by lower annuity premiums in other areas of U.S. Operations. 

Earnings 

Earnings attributable to shareholders for the fourth quarter were $253 million,
up $42 million, or 20 per cent from the $211 million in the fourth quarter of
2000. Total net income, which includes earnings attributable to policyholders,
was $255 million, an increase of $45 million, or 21 per cent, as compared to the
$210 million earned in the fourth quarter of 2000. During the quarter the
Company completed the sales of Sun Bank and SLC Asset Management, details of
which are included in the Corporate Capital section. 

Shareholders' net income for 2001 was $882 million, an increase of $90 million,
or 11.4 per cent from the $792 million earned in 2000. Improved earnings in the
Canadian Operations, U.K. Operations, and Corporate Capital, were partially
offset by lower earnings in U.S. Operations, MFS Investment Management and Asian
Operations. The earnings decline in U.S. Operations was primarily due to lower
capital markets, which reduced earnings from variable annuities operations,
venture capital gains, and MFS. 

Cash Flows 

Net cash outflows in the fourth quarter of 2001 were $478 million compared to
inflows of $562 million in the fourth quarter of 2000. At December 31, 2001
cash, cash equivalents and short-term investments were $4.8 billion compared to
$4.0 billion a year earlier and $4.5 billion at September 30, 2001. 

Shareholders' Equity 

Shareholders' equity was $7,645 million at December 31, 2001, an increase of
$544 million from September 30, 2001. The increase in Shareholders' equity arose
from fourth quarter earnings of $253 million, the issue of shares for $307
million, net of issue costs of $23 million, and $36 million of currency
adjustments primarily due to the weaker Canadian dollar relative to the U.S.
dollar. Shareholders' equity was reduced by dividend payments of $52 million for
the quarter. Return on equity ('ROE') for the fourth quarter of 2001 was 13.4
per cent, up from the 12.5 per cent in the third quarter of 2001. ROE increased
due to improved earnings and the overall favourable impact of the Keyport/IFMG
acquisition. Shareholders' equity and ROE for previous quarters have been
restated due to an adjustment of $206 million to equity related to the adoption
of new Canadian actuarial standards. 

PERFORMANCE BY OPERATING UNIT
--------------------------------------------------------------------------------
 
Canadian Operations
--------------------------------------------------------------------------------
 
                                Quarterly Results                     Full Year 
                        4Q'01     3Q'01     2Q'01  1Q'01   4Q'00   2001     2000 
  
Revenues ($mm)            997       896       932  1,030     927  3,855    3,946 
Net Income ($mm)           57        51        55     49      62    212      184 
ROE (%)                  18.6      16.5      17.6   13.6    15.8   16.5     12.2 


In the fourth quarter of 2001, Canadian Operations earned $57 million to achieve
an 18.6 per cent ROE. Comparisons to the fourth quarter of 2000 are affected by
$17 million of net favourable special items related to a reinsurance treaty,
reserve strengthening and income tax changes recorded in that quarter. Excluding
these items, net income from Canadian Operations increased by $12 million, or 27
per cent. 

Earnings for the full year of 2001 were $212 million, an increase of $28
million, or 15 per cent from the $184 million earned in 2000. Contributing to
this growth were significant improvements in the Group Life & Health results and
in the Spectrum & Other line of business. 

The ROE for Canadian Operations rose to 16.5 per cent for 2001, a significant
increase over the 12.2 per cent earned in fiscal 2000. 

                                      Net Income                    Full Year 

($mm)                        4Q'01   3Q'01   2Q'01   1Q'01  4Q'00  2001    2000 
  
Individual Life                 14       7       8      10     42    39      48 
Group Life & Health             23      23      23      12     27    81      68 
Group Retirement Services        6       9      12      11     15    38      45 
Spectrum & Other                20       9       6      10     (8)   45      24 
Investment Portfolio & Other    (6)      3       6       6    (14)    9      (1) 

Total                           57      51      55      49     62   212     184 


• Individual Life reported earnings of $14 million for the current quarter. This
was a decrease of $28 million compared to the fourth quarter of 2000, which
included $29 million of net favourable special items for reinsurance and reserve
strengthening. Excluding these special items, full year 2001 results grew by $20
million to $39 million, driven by cost efficiency and mortality improvements.


• Group Life & Health earnings of $81 million in 2001 were $13 million higher
than in 2000, largely driven by improvements in long-term disability morbidity
experience. In the fourth quarter, Group Life & Health earned $23 million, a
decrease of $4 million compared to the fourth quarter of 2000 due to increased
claims.


• Group Retirement Services earned $6 million in the fourth quarter of 2001, a
decrease of $9 million compared to the fourth quarter of 2000, primarily due to
mortality-related reserve strengthening. This decline contributed to the $7
million decline in full year 2001 earnings relative to the $45 million earned in
fiscal 2000.


• Spectrum & Other had earnings of $20 million in the fourth quarter of 2001,
compared to losses of $8 million the fourth quarter of 2000. The earnings for
the full year 2001 grew by $21 million over those for 2000. The benefit of lower
expenses in 2001 in Spectrum Investments and a reserve strengthening in
Individual Annuity in 2000 accounted for a significant portion of the annual and
fourth quarter earnings increases.


United States Annuity and Insurance Operations
--------------------------------------------------------------------------------
 

                                Quarterly Results                  Full Year 
                      4Q'01    3Q'01    2Q'01    1Q'01   4Q'00    2001   2000 
  
Revenues ($mm)        2,507    1,528    1,755    2,021   1,858   7,811  7,159 
Net Income ($mm)         90       55       27       50      43     222    229 
ROE (%)                10.6     15.1      7.7     15.8    13.7    11.8   20.1 

In the fourth quarter of 2001, U.S. Annuity and Insurance Operations earned $90
million, compared to $43 million in the fourth quarter of 2000, an increase of
$47 million, or 109 per cent. All business units contributed to the improvement
in earnings. Keyport contributed $27 million to the Retirement Products &
Services line, which offset reduced earnings from lower average U.S. equity
markets. Costs of $15 million related to the financing of the Keyport/IFMG
acquisition are reflected in the Corporate Capital reporting unit for a net
contribution of $12 million from the Keyport acquisition to the Company's
earnings. 

Earnings of $222 million for the year declined by $7 million from the $229
million earned in 2000. Keyport's contribution to the Retirement Products &
Services business line partially offset a decline in earnings for variable
annuities, which were adversely impacted by U.S. equity markets. Individual
Life's profitability improved as a result of a larger block of in-force
business, while Group Life & Health's profitability benefited from pricing
improvements. The decrease in earnings in the Investment Portfolio & Other line
was the net result of venture capital gains in 2000, which were not repeated in
2001, and were offset by lower asset provisions in 2001. All results benefited
from expense control initiatives. 

The ROE level for the U.S. Operations was affected by the impact of lower equity
market valuations on variable annuity earnings, as well as an increase in equity
allocated to this operation to support the acquisition of Keyport/IFMG. In the
aggregate, the Keyport acquisition is expected to add significantly to the total
Company's ROE within two years of closing. 

                                Net Income                          Full Year 

($mm)                  4Q'01   3Q'01    2Q'01   1Q'01   4Q'00   2001     2000 
  
Retirement Products 
& Services                35      15        1      13      15     64       73 
Individual Life           25      33       25      23      21    106       75 
Group Life & Health       14      11       10       6      12     41       25 
Investment Portfolio 
& Other                   16      (4)      (9)      8      (5)    11       56 

Total                     90      55       27      50      43    222      229 


•  Retirement Products & Services (including Keyport) reported earnings of $35
million, an increase of $20 million or 133 per cent compared to the $15 million
earned in the fourth quarter of 2000. Keyport contributed $27 million to the
improved earnings, while other earnings decreased due to declines in the equity
markets.


•  Individual Life earned $25 million, $4 million or 19 per cent more than the
$21 million earned in the fourth quarter of 2000. Reduced operating expenses
contributed to the improvement in earnings. The results for the fourth quarter
were lower than third quarter earnings, which benefited from good mortality.


•  Group Life & Health earned $14 million in the fourth quarter. This was $2
million or 17 per cent more than the $12 million earned in the fourth quarter of
2000 and resulted from price increases in the Company's stop-loss business. This
contribution was partially offset by increased disability claims.

•  Investment Portfolio & Other earnings of $16 million were a $21 million
improvement over the fourth quarter 2000 loss of $5 million.

MFS Investment Management
--------------------------------------------------------------------------------
 
                                   Quarterly Results                  Full Year 
                         4Q'01    3Q'01    2Q'01    1Q'01   4Q'00  2001    2000 
  
Revenues ($mm)             542      541      587      603     614 2,273    2,382 
Net Income ($mm)            50       58       65       58      60   231      256 
ROE (%)                   47.0     60.4     75.8     76.6    75.1  63.0     87.0 


MFS Investment Management earned $50 million in the fourth quarter of 2001, a
decline of $10 million, or 17 per cent, compared to the $60 million earned in
the fourth quarter of 2000. Lower year-over-year earnings resulted from revenue
declines, reflecting the capital market declines during the period.
Representative of this decrease, the quarterly average S&P 500 Index fell by
18.4 per cent from the fourth quarter of 2000, when the index averaged 1,366, to
the fourth quarter of 2001 when the index averaged 1,115. The average S&P 500
Index for the fourth quarter fell 3.3 per cent from the third quarter of 2001. 

Earnings for 2001 of $231 million were $25 million, or 10 per cent, less than
the $256 million earned in 2000. Lower revenues due to declining equity
valuations were only partially offset by lower expenses achieved through a focus
on cost reduction and operational efficiencies. 

                                  Quarterly Results                   Full Year 
                          4Q'01     3Q'01  2Q'01    1Q'01    4Q'00  2001   2000 
  
Assets Under 
Management (C$B)            220       194    222      210      223   220    223 
Net New Sales (C$B)         2.3       3.9    7.8     12.4      8.0  26.4   31.5 
Market/Currency 
Movement (C$B)             23.8     (31.7)   3.6    (24.8)   (24.9)(29.1)  (9.4) 


• Net new sales, across all business lines, for the fourth quarter of 2001 were
$2.3 billion (US$1.5 billion).


• No.3 ranking for net new retail mutual fund flows in the non-proprietary 
channel with inflows of US$6.3 billion (full year December 2001).


• No.8 ranking by size among U.S. mutual fund companies with US$83 billion in 
long term mutual fund assets under management (December 31, 2001).


• Total 2001 net new sales across all product lines of over US$17 billion
reflects substantial growth in the MFS' institutional and managed account
business.


• Based on Lipper data, the three-year performance of 79 per cent of MFS' equity
and fixed income funds were in the top two quartiles.

United Kingdom Operations
--------------------------------------------------------------------------------
 
                                     Quarterly Results             Full Year 
                   4Q'01    3Q'01    2Q'01      1Q'01    4Q'00   2001      2000 
  
Net Income ($mm)      54       37       50         39       37    180       119 
ROE (%)             19.9     12.2     17.5       13.9     13.7   15.8      11.1 

Earnings rebounded in 2001 as the result of aggressive management action taken
during the year. On February 15, 2001 the Company announced its decision to exit
the direct sales force distribution business in the U.K. The sales force was
terminated on March 30, 2001. During the fourth quarter 2001 the Company
completed the sales of Sun Bank and SLC Asset Management. The net gains
generated from these sales have been included in Corporate Capital results. U.K.
results included net income for the two subsidiaries of $2 million in the fourth
quarter of 2001 compared to $8 million in the third quarter of 2001 and $7
million in the fourth quarter of 2000. 

Full year earnings in 2001 increased by $61 million to $180 million from $119
million for the full year 2000. This increase in earnings was primarily due to
the elimination of new business acquisition costs and the favourable impact of
commission related reductions arising from the Company's exit from the direct
sales force business in the first quarter of 2001. 

Earnings for U.K. Operations were $54 million in the fourth quarter of 2001, an
increase of $17 million, or 46 per cent, relative to earnings of $37 million in
the fourth quarter of 2000. The major components of the earnings increase were
improved investment income and ongoing expense reductions. Fourth quarter
earnings also include $3 million related to the adoption of new Canadian
actuarial standards. The favourable impact of these items was somewhat offset by
reduced earnings of $5 million due to the sale of Sun Bank and SLC Asset
Management during the quarter. 

Net income for the U.K. increased by $17 million, or 46 per cent in the fourth
quarter to $54 million as compared with earnings in the third quarter of 2001 of
$37 million. This earnings increase resulted primarily from improved investment
income reflecting a rebound in equity markets at year-end 2001 relative to the
end of the third quarter 2001. 

On January 14, 2002, the Company announced an agreement with the Marlborough
Stirling group to outsource the administration of its closed book of U.K.
individual life and pension business consisting of over 800,000 policies. This
agreement to outsource the Company's U.K. back office operations in the
individual business is expected to lower operating expenses over the next five
years, reduce operating risk and enhance strategic flexibility in the U.K. The
agreement is expected to take effect in March 2002. 

Asian Operations
--------------------------------------------------------------------------------
 

                             Quarterly Results                     Full Year 
                   4Q'01      3Q'01     2Q'01    1Q'01   4Q'00   2001    2000 
  
Revenues ($mm)       148        107       106      103     115    464     413 
Net Income ($mm)      (1)         3        10        8       6     20      27 
ROE (%)              n/a        2.5       8.6      7.5     6.0    4.2     6.7 


In the fourth quarter of 2001, Asian Operations recorded a loss of $1 million
compared to earnings of $6 million in the fourth quarter of 2000. The fourth
quarter loss reflects the continuing adverse effect on current earnings from the
investments in the Asian market in pursuit of growth. A significant increase in
revenues for the fourth quarter compared to the same period a year ago was due
primarily to solid Hong Kong sales and Philippines premiums. 

Earnings for Asian Operations for 2001 were $20 million, a decline of $7
million, or 26 per cent compared to the $27 million earned in 2000. This
decrease was primarily due to increased business development costs and the
devaluation of certain local currencies. 

Corporate Capital
--------------------------------------------------------------------------------
Corporate Capital refers to expenses, capital and other items not allocated to
the Company's other operations. 

                              Quarterly Results                      Full Year 
                      4Q'01      3Q'01    2Q'01   1Q'01   4Q'00   2001     2000 
  
Net Income ($mm)          3         11        5      (2)      3     17      (23) 
ROE (%)                 1.0        2.1      1.0     n/a     0.9    0.9      n/a 

During the quarter the Company completed the sales of Sun Bank and SLC Asset
Management. The net proceeds from these sales were $144 million and $242
million, respectively, and the Company realized total after tax gains of $125
million. The gains were largely offset by a net cost of $30 million associated
with the early redemption of certain subordinated debt and U.K. outsourcing and
restructuring related costs of $88 million for a net gain of $7 million. 

Earnings in Corporate Capital for the fourth quarter 2001 were reduced by $15
million for costs related to the financing of the Keyport/IFMG acquisition. 

For fiscal 2001, earnings were $17 million, an increase of $40 million compared
to the prior year losses of $23 million. The results for fiscal 2000 included
significant asset provisions, which did not recur in 2001. 

Company Highlights in Fourth Quarter
--------------------------------------------------------------------------------
 
•  Signing of definitive agreement to combine with Clarica was announced on
December 17, 2001. This combination will create an organization with leadership
positions in virtually every life industry market of strategic importance to the
Company in Canada. The transaction, which is subject to Clarica shareholder and
voting policyholder approval, is expected to close in the second quarter of
2002.

•  The acquisition of Keyport/IFMG closed on October 31, 2001, expanding the
Company's product set in annuities, providing additional distribution
capabilities especially in the bank channel, and providing the opportunity for
enhanced operating economies.

•  $330 million of equity (11 million shares) was issued on October 4, 2001 and
used as a portion of the financing for the acquisition of Keyport/IFMG.

•  $950 million of Tier 1 equity securities, Sun Life ExchangEable Capital
Securities (SLEECS) were issued on October 19, 2001 as the second portion of the
financing of the purchase price for Keyport/IFMG.

•  The sales of Sun Bank and SLC Asset Management, both based in the U.K.,
closed on November 30, 2001 and December 7, 2001 respectively. These
transactions were part of the on-going strategic review of the Company's U.K.
operations.

•  MFS was named to the list of '100 Best Companies to Work For' by Fortune
magazine in its annual list of top employers for the third consecutive year. 

SUN LIFE FINANCIAL 

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 December 31, 2001
the Sun Life Financial group of companies has total assets under management of
CDN $352 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'. 

This press release contains forward-looking statements with respect to the
Company, including its business operations and strategy and financial
performance and condition. Although management believes that the expectations
reflected in such forward looking statements are reasonable, such statements
involve risks and uncertainties. Actual results may differ materially from those
expressed or implied by such forward-looking statements. Factors that could
cause actual results to differ materially from expectations include, among other
things, general economic and market factors, including interest rates, business
competition, changes in government regulations or in tax laws and other factors
discussed in materials filed with applicable securities regulatory authorities
from time to time. 

NOTE TO EDITORS:    All figures shown in Canadian dollars unless otherwise
noted. Exchange rates used by the Company for balance sheet purposes, as at
December 31, 2001 were as follows: 

1 USD=$1.59
1 GBP=$2.31 

Media contacts: 

John Vincic
416-979-6070  

Francine Cleroux
514-866-2561  
  
 
Investor Relations contact: 

Thomas Rice
416-204-8163  

Web site:  www.sunlife.com

--------------------------------------------------------------------------------


SUN LIFE FINANCIAL SERVICES OF CANADA INC.

COMPARATIVE HIGHLIGHTS - 2001 vs. 2000 
(in millions of Canadian dollars) 

                                               For three months ended Dec. 31   For twelve months ended Dec. 31 
                                                  2001      2000       Change     2001           2000      Change 
                                                     $         $            %        $              $           %   
  
Shareholders Net Income (1)                        
Earnings 
Per Share(1)                                       253       211           20      882            792          11 
 - Basic                                           .59       .50           18     2.08           1.90           9 
 - Fully Diluted                                   .59       .50           18     2.07           1.90           9 
Weighted Average Number of Shares Outstanding 
 - Basic                                         431.3     421.7                 423.6          416.2  
 - Fully Diluted                                 432.1     421.7                 424.2          416.2  

Return on Shareholders' Equity(1)                 13.4%     13.2%                 12.8%          13.1% 
  
Gross Sales and Deposits 
Mutual Funds                                     8,711    10,562          (18)  39,466         45,614         (13) 
Managed Funds                                    6,782     7,481           (9)  31,953         25,869          24 
Segregated Funds                                 1,454     2,870          (49)   5,851          8,318         (30) 
  
Revenue 
Premium Income                                   2,719     2,289           19    9,354          9,113           3 
Net Investment Income                            1,363       892           53    4,210          3,776           9 
Fee Income                                         803       855           (6)   3,215          3,317          (3) 
Total Revenue                                    4,885     4,036           21   16,689         16,206           3 
  

--------------------------------------------------------------------------------
 
                                                          As At December 31   
                                                     2001      2000     Change         
                                                        $         $          %           
  
Assets Under Management 
General Funds                                      80,328    55,010         46         
Segregated Funds                                   48,544    49,533         (2)         
  
Other Assets Under Management  
 Mutual Funds                                     153,035   163,160         (6)         
 Managed Funds and Other                           69,840    60,830         15          
Total Assets Under Management                     351,747   328,533          7        
  
Total Equity 
Participating Policyholders' Account                   80        79          
Shareholders' Equity                                7,645     6,438          
Total Equity                                        7,725     6,517          
  
MCCSR (%)                                             190       295          


Notes:

(1)For comparison purposes, amounts for full year 2000 are on an adjusted basis
assuming the Company had become public on January 1, 2000. 

(2)Certain ROE numbers have been restated to reflect the impact on equity of
adoption of the new standards, issued by the Canadian Institute of Actuaries,
for the valuation of policy liabilities of life insurers. 


                      This information is provided by RNS
            The company news service from the London Stock Exchange