Sun Life Financial Inc.

Sun Life Financial Inc.

January 06, 2005 10:00 ET

Sun Life Financial continues share repurchase program


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SUN LIFE FINANCIAL INC.

TSX, NYSE SYMBOL: SLF

JANUARY 6, 2005 - 10:00 ET

Sun Life Financial continues share repurchase program

TORONTO, ONTARIO--(CCNMatthews - Jan. 6, 2005) - Sun Life Financial Inc.
(TSX:SLF)(NYSE:SLF) announced today that its Board of Directors has
authorized the purchase of up to 29,580,843 common shares, representing
five per cent of the 591,616,859 currently outstanding common shares
under a renewed normal course issuer bid pursuant to the rules of the
Toronto Stock Exchange.

In its 2004 share repurchase program, Sun Life Financial Inc. bought
back 10,099,717 common shares, or approximately three per cent of the
total outstanding prior to starting the buy-back. The shares were
repurchased at an average price of $37.93 per share.

The new normal course issuer bid will start January 12, 2005 and
continue until January 11, 2006, or such earlier date as Sun Life
Financial completes its purchases. The purchases will be made through
the facilities of the Toronto Stock Exchange. The price at which Sun
Life Financial will purchase any common shares will be the market price
at the time of acquisition. Sun Life Financial will make no purchases of
common shares other than open-market purchases. Any common shares
acquired by Sun Life Financial will be cancelled.

From time to time, the market price of the common shares may not fully
reflect the value of Sun Life Financial's business and its future
business prospects. As a result, the company believes that the purchase
of its common shares may represent an appropriate and desirable use of
available funds.

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 1865, 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, China and Bermuda. As of September 30, 2004, the Sun
Life Financial group of companies had total assets under management of
CDN$355.4 billion. Sun Life Financial Inc. trades on the Toronto (TSX),
New York (NYSE) and Philippine (PSE) stock exchanges under ticker symbol
SLF.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Sun Life Financial Inc.
    Media Relations Contact: Nicholas Thomas
    Director, Media and Public Relations
    416-979-6070
    nicholas.thomas@sunlife.com
    or
    Sun Life Financial Inc.
    Investor Relations Contact: Tom Reid
    Vice-President, Investor Relations
    416-204-8163
    investor.relations@sunlife.com