Great-West Lifeco Inc. today announced the closing of an offering of $300 million of the company’s first preferred shares to a syndicate of underwriters led by RBC Dominion Securities Inc. Lifeco announced the offering on March 30, 2006.

The shares will be posted for trading on the Toronto Stock Exchange under the symbol “GWO.PR.I”.

The 12 million non-cumulative first preferred shares, series I were priced at $25 per share and carry a 4.5% annual dividend.

The net proceeds will be used by the corporation for general corporate purposes.