Re Shares Issued & Oustanding

Sun Life Fin.Services of Canada Inc
10 December 2001


LETTER TO SUN LIFE FINANCIAL SERVICES OF CANADA INC.

LETTER DATED 3 December 2001

Re:  Sun Life Financial Services of Canada Inc. 

As Transfer Agent and Registrar for the common shares of Sun Life Financial 
Services of Canada Inc., we confirm the following:

Common shares issued and outstanding as at October 31, 2001     431,708,452

Rectification share issuance                                           -171

Common shares issued and outstanding as at November 30, 2001    431,708,281
     
FROM CIBC MELLON



FORM 1 Company Name:Sun Life Financial Services of Canada Inc. Stock Symbol: SLC

CHANGE IN OUTSTANDING AND RESERVED SECURITIES

          ISSUED AND OUTSTANDING SHARE SUMMARY        No. of Shares     Balance
          Issued and Outstanding - Opening Balance*                 431,708,452
ADD:      Stock Options Exercised          
          Share Purchase Plan          
          Dividend Reinvestment Plan          
          Exercise Warrants          
          Private Placement          
          Conversion          
          Other Issuance (Rectification Shares)          
SUBTRACT: Issuer Bid Purchase          
          Redemption          
          Other Cancellation (Rectification Shares)         171     431,708,281
          Closing Issued and Outstanding Share Balance*             431,708,281

NOTE: If any of the Company's securities of a listed class are held by the 
Company itself or by any subsidiary of the Company (which securities are herein 
referred to as 'internally-held securities'), such internally-held securities 
must not be counted as 'issued and outstanding.'

Internally-held securities may result from the Company not cancelling shares 
acquired pursuant to an issuer bid or as a consequence of a subsidiary of the 
Company retaining or obtaining shares of the Company through a merger, 
amalgamation, arrangement or reorganization involving the Company,

RESERVED FOR SHARE COMPENSATION ARRANGEMENTS

C. Stock Option Plan and / or Agreement

   NAME OF PROGRAM EXECUTIVES' STOCK OPTION PLAN
   Stock Options Outstanding - Opening Balance                        4,319,000

Options Granted: (ADD)
Date of Grant  Name of Optionee  Expiry Date  Exercise Price  No. of Options    
                                                                     Granted
01-Nov-01      See list below     01-Nov-11    CAD 20.79                249,000
                                                                
                                                  SUBTOTAL              249,000

Options Exercised: (SUBTRACT) Shares issued on exercise must also be subtracted 
in the table entitled 'Shares Reserved' below

Date of Grant  Name of Optionee  Expiry Date  Exercise Price  No. of Options    
                                                                Granted         
                                                                
                                                       SUBTOTAL     NIL

Share Appreciation Rights or Market Growth Feature ('SAR') in tandem with Stock 
Options.

Date of Exercise   Name of Optionee  Date of Grant   No. Options    No. Shares 
/ Canc.                                                   Canc.       Issued*   
                                                               (based on SAR    
                                                                       Value)
                                                        SUBTOTAL    NIL

*Shares may, or may not be issued however 'Shares Reserved' (for Stock Option 
Plan) may require a deduction in accordance with TSE acceptance of the Plan. 
Please ensure all applicable changes are noted.

Options Cancelled/Terminated: (SUBTRACT) If an option is cancelled prior to its 
natural expiry date, for reasons other than termination of employment or natural
expiry, the entry should be noted with a * and an explanation provided below.

Date of Canc.  Name of Optionee  Date of Grant  Expiry Date  Exercise    Number
 / Term                                                       Price    
30-OCT-01      EXECUTIVES'       30-MAR-01      30-MAR-11    CAD 29.49     2800
17-NOV-01      EXECUTIVES'       30-MAR-01      30-MAR-11    USD 18.76     2500
30-NOV-01      EXECUTIVES'       30-MAR-01      30-MAR-01    CAD 23.49     9500
                                                            SUBTOTAL     14,800
     
Stock Option Outstanding - Closing Balance                            4,553,200

RESERVED FOR SHARE COMPENSATION ARRANGEMENTS

D. Shares Reserved (for Stock Option Plan)
   NAME OF PROGRAM: EXECUTIVES' STOCK OPTION PLAN      No. of Shares     Balance
   Opening Share Reserve Balance at beginning of period               29,525,000
   Additional shares Listed Pursuant to the Plan (ADD)          
   Stock Options Exercised (SUBTRACT)          
   Stock Appreciation Rights (SUBTRACT)          
   Closing Share Reserve Balance at end of period                     29,525,000

RESERVED FOR SHARE COMPENSATION ARRANGEMENTS

C. Stock Option Plan and / or Agreement

NAME OF PROGRAM SPECIAL 2001 AWARD STOCK OPTION PLAN

Stock Options Outstanding - Opening Balance     830,000

Options Granted: (ADD)
Date of Grant   Name of Optionee    Expiry Date   Exercise Price  No. of Options
                                                                    Granted
30-MAR-01       Reinstatement of      30-MAR-11     CAD 29.49          100
                Special 2001 Award 
                Stock Option Plan 
                which was cancelled 
                on Oct. 17, 2001     
01-NOV-01       See list below.       01-NOV-11     CAD 20.79       54,500
                                                    SUBTOTAL        54,600

Options Exercised: (SUBTRACT) Shares issued on exercise entitled 'Shares 
Reserved' below     

Date of Grant   Name of Optionee    Expiry Date   Exercise Price  No. of Options
                                                                         Granted
                                                    SUBTOTAL               NIL

                    
Share Appreciation Rights or Market Growth Feature ('SAR') in tandem with Stock 
Options.

Date of Exercise  Name of Optionee  Date of Grant No. Options No. Shares Issued*
/Canc                                                    Canc        (based on 
                                                                     SAR Value) 
                                       
                                                    SUBTOTAL           NIL

*Shares may, or may not be issued however 'shares Reserved' (for Stock Option 
Plan) may require a deduction in accordance with TSE acceptance of the Plan. 
Please ensure all applicable changes are noted.
 
Options Cancelled/Terminated: (SUBTRACT) If an option is cancelled prior to its 
natural expiry date, for reasons other than termination of employment or natural
expiry, the entry should be noted with a * and an explanation provided below.

Date of       Name of Optionee    Date of Grant   Expiry     Exercise   Number
Canc./Term                                          Date     Price      
16-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
19-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     200
20-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     800
21-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
22-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     200
25-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     100
26-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
26-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     200
27-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     200
30-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     200
31-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
31-OCT-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     600
01-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
01-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     200
02-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
02-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     300
03-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76    1500
05-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
05-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     200
06-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     300
08-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49    1000
09-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     200
10-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     500
12-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
12-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     200
13-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
14-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
14-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     100
15-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     200
16-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     200
16-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     100
17-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     400
17-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     100
19-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     200
19-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
20-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
20-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     100
21-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     300
22-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     100
22-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     200
23-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   USD 18.76     700
23-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     300
28-NOV-01     Special 2001 Award     30-MAR-01   30-MAR-11   CAD 29.49     600
                                                           SUBTOTAL     11,700
     
Stock Option Outstanding - Closing Balance                             872,900

RESERVED FOR SHARE COMPENSATION ARRANGEMENTS

D.  Shares Reserved (for Stock Option Plan)

NAME OF PROGRAM SPECIAL 2001 AWARD STOCK OPTION PLAN   No. of Shares     Balance
Opening Share Reserve Balance at beginning of period                   1,150,000
Additional shares Listed Pursuant to the Plan (ADD)          
Stock Options Exercised (SUBTRACT)          
Stock Appreciation Rights (SUBTRACT)          
Closing Share Reserve Balance at end of period                         1,150,000


RESERVED FOR SHARE COMPENSATION ARRANGEMENTS
   
C.  Stock Option Plan and / or Agreement
NAME OF PROGRAM: DIRECTORS' STOCK OPTION PLAN
Stock Options Outstanding - Opening Balance                             28,000

Options Granted: (ADD)

Date of Grant   Name of Optionee  Expiry Date  Exercise Price     No. of Options
                                                                    Granted
                                        
                                                         SUBTOTAL     NIL


Options Exercised: (SUBTRACT) Shares issued on exercise must also be subtracted 
in the table entitled 'Shares Reserved' below

Date of Grant  Name of Optionee   Expiry Date  Exercise Price     No of Options 
                                                                   Granted
                                                         SUBTOTAL     NIL

Share Appreciation Rights or Market Growth Feature ('SAR') in tandem with Stock 
Options.

Date of
Exercise/Canc   Name of Optionee  Date of Grant No. Options   No. Shares Issued*
                                                  Canc.     (based on SAR Value)
                                                    SUBTOTAL     NIL

*Shares may, or may not be issued however 'shares Reserved' (for Stock Option 
Plan) may require a deduction in accordance, with TSE acceptance of the Plan, 
Please ensure all applicable changes are noted.

Options Cancelled/Terminated: (SUBTRACT) If an option is cancelled prior to its 
natural expiry date, for reasons other than termination of employment or natural
expiry, the entry should be noted with a * and an explanation provided below.

Date of     Name of Optionee  Date of Grant  Expiry Date  Exercise   Number
Canc./Term                                                 Price    
                         
                                                         SUBTOTAL     NIL
     
Stock Option Outstanding - Closing Balance                           28,000

RESERVED FOR SHARE COMPENSATION ARRANGEMENTS

D.     Shares Reserved (for Stock Option Plan)

NAME OF PROGRAM DIRECTORS' STOCK OPTION PLAN    No. of Shares       Balance
Opening Share Reserve Balance at beginning of period               150,000
Additional shares Listed Pursuant to the Plan (ADD)          
Stock Options Exercised (SUBTRACT)          
Stock Appreciation Rights (SUBTRACT)          
Closing Share Reserve Balance at end of period                     150,000

All information reported in this Form is for the month of November, 2001.

Filed on behalf of the Company by:
(please enter name and direct phone or email)

NAME        Terri Hammond
PHONE/EMAIL [phone] / [e-mail] 
DATE        December 7, 2001