Sun Life Financial Inc. announced today that the Toronto Stock Exchange has accepted its notice of intention to make a normal course issuer bid. Under the bid, Sun Life may purchase up to 28,565,318 common shares, representing approximately 5% of the 571,848,948 currently outstanding common shares.

In its 2006 share repurchase program, Sun Life repurchased 12,168,661 common shares at an average price of $46.30 per share. The aggregate price of approximately $563 million exceeded Sun Life Financial’s medium term objective of $500 million for share repurchases. The common shares repurchased were approximately 2.1% of those outstanding prior to commencing the buy-back.

The new normal course issuer bid will commence on Jan. 12, 2007 and continue until Jan. 11, 2008, or such earlier date as the company completes its purchases. The purchases will be made through the facilities of the TSX. Any common shares acquired by the company will be cancelled.

From time to time, Sun Life Financial possesses excess capital not currently required to support its business objectives. As a result, the company believes that the purchase of its common shares may represent an appropriate and desirable use of its available funds.