Re Agreement

Sun Life Fin.Services of Canada Inc
14 January 2002

             SUN LIFE FINANCIAL TO OUTSOURCE UK INSURANCE BACK 
                 OFFICE OPERATIONS TO MARLBOROUGH STIRLING


(TORONTO, January 14, 2002) - Sun Life Financial Services of Canada Inc. (NYSE, 
TSE: 'SLC') today announced an agreement with the Marlborough Stirling group to 
outsource the administration of Sun Life Financial's closed book of U.K. 
individual life and pension business consisting of over 800,000 policies. Sun 
Life Financial's fast-growing group insurance business, which ranks no. 3 in the
U.K., will be unaffected by this agreement.

'In early 2001, Sun Life Financial placed all of its U.K. operations under 
strategic review. This review led to a series of actions last year, including 
the exiting of the direct sales force business and the sales of Sun Bank and SLC
Asset Management,' said Donald A. Stewart, Chairman and Chief Executive Officer 
of Sun Life Financial. 'This agreement to outsource our U.K. back office 
operations in the individual business will save approximately $50 million in 
operating expenses over the next five years. In addition, it will reduce 
operating risk and enhance our strategic flexibility in the U.K.'

Sun Life Financial has been a client of Marlborough Stirling since 1999 when it 
decided to implement Lamda, Marlborough Stirling's life and pensions 
administration system. Under the terms of the new agreement, Marlborough 
Stirling will have overall responsibility to complete the planned implementation
of the Lamda system, which will be used as the platform on which the portfolio 
will be managed.

'The outsourcing agreement will take effect in March 2002 and savings will grow 
over time reflecting full migration onto the lower-cost Lamda platform and the 
anticipated run off of the closed book portfolio,' added Mr. Stewart.

Approximately 720 Sun Life Financial employees based in Basingstoke, U.K. will 
be joining Marlborough Stirling, where they will provide services to 
policyholders. Sun Life Financial will maintain a small U.K. governance team who
will be responsible for ensuring fiduciary, policyholder and regulatory 
obligations are met. In addition, Sun Life Financial will maintain approximately
100 employees in its continuing U.K. group insurance business.

'Marlborough Stirling quickly established itself as our preferred partner in 
helping us reposition our U.K. individual life and pensions operations following
our decision to cease distribution of new individual life and pension products 
via a direct sales force,' said Peter Hanby, Chief Executive Officer of Sun Life
Assurance Company of Canada (U.K.) Limited. 'This partnership represents a 
natural extension of the business benefits we were looking to achieve by 
implementing the Lamda system. It also enables us to reduce restructuring and 
per policy costs on the run off closed book portfolio and brings significant 
benefits to employees who will be moving into a vibrant, expanding business.'

About 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 September 30, 2001 
the Sun Life Financial group of companies has total assets under management of 
CDN $299 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'.

About Marlborough Stirling

Marlborough Stirling (www.marlborough-stirling.com) provides software and 
services to the mortgages, life and pensions and investment market sectors.

Its software and services enable financial service providers and intermediaries 
to meet consumers' demand for financial products that are flexible, capable of 
being distributed through a variety of channels and processed efficiently.

Marlborough Stirling employs approximately 1,300 people and is based in the U.K.
It has operations in a number of other locations including Canada where, through
offices in Toronto and Vancouver, it provides its software and services to the 
Canadian financial services industry.

The group listed on the London Stock Exchange in April 2001 (under ticker symbol
MAS.L) and gained entry to the FTSE250 index two months later.


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John Vincic                          Helene Soulard
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Investor Relations Contact:  
Thomas R.Rice
416-204-8163