Further re Agreement

Sun Life Fin.Services of Canada Inc
6 March 2002


SUN LIFE FINANCIAL CONFIRMS POSITIVE VOTE BY CLARICA SHAREHOLDERS AND VOTING
POLICYHOLDERS

(TORONTO, March 6, 2002) - Sun Life Financial Services of Canada Inc. (NYSE,
TSE: 'SLC') today announced that shareholders and voting policyholders of
Clarica Life Insurance Company (TSE: 'CLI') have voted in favour of the proposed
combination of Sun Life Financial and Clarica. The transaction is still subject
to approval by the Minister of Finance and regulators in both Canada and the
U.S. and is expected to close in the second quarter of 2002.

'We are delighted that Clarica's shareholders and voting policyholders have
given their support to the proposed transaction,' said Donald A. Stewart,
Chairman and Chief Executive Officer.  'The combination of Clarica and Sun Life
Financial provides an opportunity to bring two strong businesses together and
turn them into a single, stronger organization. The combined organization will
be defined by its world-class workforce, intense customer focus and dedication
to the creation of shareholder value.'

The combined organization will hold leading positions within the Canadian
insurance industry:

• No.1 based on combined revenues of $23 billion for the 12 months ended Dec. 
     31, 2001
• No.1 in assets under management of $398.8 billion including total general and 
     segregated fund assets of $171.3 billion as at Dec. 31, 2001
• No.1 in group life and health
• No.1 in group retirement services
• No.1 in retail insurance premiums in force
• No.1 in market capitalization for Canadian insurance companies
• No.1 customer base with approximately 7 million Canadian customers

With this transaction, Sun Life Financial also achieves a stronger platform for
North American growth.

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 Dec. 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 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.

 

Media contacts:
John Vincic                                    Francine Cleroux 
416-979-6070                                   514-866-2561

Investor Relations contact
Thomas Rice 
416-204-8163




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