Shares Issued and Outstanding

Sun Life Fin.Services of Canada Inc
7 March 2002



Letter to Sun Life Financial Services of Canada Inc, dated March 1, 2002

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 
January 31, 2002                                         431,708,287

Rectification share issuance                                   2,873

Common Shares issued and outstanding as at 
February 28, 2002                                        431,711,160

Letter 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*                 431,708,287  
ADD:       Stock Options Exercised                                                   
           Share Purchase Plan                                                            
           Dividend Reinvestment Plan                                                     
           Exercise Warrants                                                              
           Private Placement                                                              
           Conversion                                                                     
           Other Issuance (Rectification Shares)            +3,168                           
SUBTRACT:  Issuer Bid Purchase                                                  
           Redemption                                                                     
           Other Cancellation (Rectification Shares)          -295                             
           Closing Issued and Outstanding Share Balance*             431,711,160  

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                         4,658,600 

           Options Granted: (ADD) 

                                                                                                        
           Date of Grant    Name of Optionee    Expiry Date    Exercise    No of Options Granted  
                                                                  Price                               
             18-FEB-2002    See List Below      18-FEB-12      USD $20.84             2,637,500                         
             18-FEB-2002    See List Below      18-FEB-12      CAD $33.16             1,799,600    
                                                                                                        
                                                               SUBTOTAL               4,437,100                    
 

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    No of Options Granted  
                                                                  Price                               
                                                                                                        
                                                                                                        
                                                               SUBTOTAL             NIL        
                                                                                                                      
           Share Appreciation Rights or Market Growth Feature (SAR')               
           in tandem with Stock Options.                                                                

           Date of Exercise / Canc.       Name of Optionee     Date of     No Options Canc.   No Shares Issued*      
                                                                 Grant                    (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. / Term     Name of Optionee    Date of Grant    Expiry Date    Exercise Price    Number  
           25-JAN-02                EXECUTIVES'         30-MAR-01        30-MAR-11      USD 18.76         3,900   
           07-FEB-02                EXECUTIVES'         30-MAR-01        30-MAR-11      USD 18.76         2,700         
                                                                  
                                                                                        SUBTOTAL          6,600   
                                                                                                                      
           Stock Option Outstanding - Closing Balance                                                 9,089,100  

               
           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                              850,700 

           Options Granted; (ADD) 

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

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

           Date of      Name of Optionee          Expiry       Exercise    No of Options Granted  
           Grant                                  Date         Price                              
 
                                                               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 Canc,  No Shares 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. / Term    Name of Optionee      Date of Grant    Expiry Date    Exercise Price      Number  
                                                                                                                 
           15-DEC-01               Special 2001 Award    01-NOV-01        01-NOV-11      USD 20.79           300
           22-DEC-01               Special 2001 Award    01-NOV-01        01-NOV-11      USD 20.79           100
           01-JAN-02               Special 2001 Award    01-NOV-01        01-NOV-11      USD 20.79           100        
           04-JAN-02               Special 2001 Award    01-NOV-01        01-NOV-11      USD 20.79           100        
           18-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      CAD 29.49           600
           19-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      USD 18.76          1200
           19-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      CAD 29.49           100
           22-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      USD 18.76           100
           22-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      CAD 29.49           200
           23-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      USD 18.76           100     
           23-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      CAD 29.49           200     
           25-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      USD 18.76           300     
           25-JAN-02               Special 2001 Award    01-NOV-01        01-NOV-11      USD 20.79           100     
           26-JAN-02               Special 2001 Award    01-NOV-01        01-NOV-11      USD 20.79           100     
           26-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      USD 18.76           200 
           28-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      CAD 29.49           300     
           29-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      CAD 29.49           600     
           30-JAN-02               Special 2001 Award    01-NOV-01        01-NOV-11      USD 20.79           100     
           30-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      CAD 29.49           100     
           31-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      USD 18.76           200     
           31-JAN-02               Special 2001 Award    30-MAR-01        30-MAR-11      CAD 29.49          1500    
           01-FEB-02               Special 2001 Award    30-MAR-01        30-MAR-11      CAD 29.49           400     
           01-FEB-02               Special 2001 Award    30-MAR-01        30-MAR-11      USD 18.76           100  
           01-FEB-02               Special 2001 Award     1-NOV-01        01-NOV-11      USD 20.79           100     
           02-FEB-02               Special 2001 Award    30-MAR-01        30-MAR-11      USD 18.76           100     
           04-FEB-02               Special 2001 Award     1-NOV-01        01-NOV-11      USD 20.79           100     
           04-FEB-02               Special 2001 Award    30-MAR-01        30-MAR-11      USD 18.76           100     
           05-FEB-02               Special 2001 Award    3O-MAR-01        30-MAR-11      USD 18.76           100     
           06-FEB-02               Special 2001 Award    3O-MAR-01        30-MAR-11      CAD 29.49           200     
           08-FEB-02               Special 2001 Award    3O-MAR-01        30-MAR-11      CAD 29.49           800     
           09-FEB-02               Special 2001 Award    01-NOV-01        01-NOV-11      USD 20.79           100     
           09-FEB-02               Special 2001 Award    3O-MAR-01        30-MAR-11      USD 18.76           600     
           13-FEB-02               Special 2001 Award    01-NOV-01        01-NOV-11      USD 20.79           100     
           18-FEB-02               Special 2001 Award    3O-MAR-01        30-MAR-11      USD 18.76           500     
           21-FEB-02               Special 2001 Award    3O-MAR-01        30-MAR-11      CAD 29.49           100  
   
                                                                                             SUBTOTAL     10,000  
                                                                                                                      
  Stock Option Outstanding - Closing                                                                     840,700   



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


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

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



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

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

                                            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./Term  Name of Optionee  Date of    Expiry    Exercise          Number  
                                   Grant      Date      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 February, 2002. 


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

NAME          Terri Hammond 

PHONE/EMAIL  [phone] / [e-mail] 

DATE          March 7, 2002 

                                                                        
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