Sun Life Financial Inc. announced today that Paul W. Derksen, executive vice-president and chief financial officer, has advised that he intends to retire in early 2007.

“Paul Derksen has made a tremendous contribution to Sun Life Financial,” said Donald A. Stewart, CEO. “Paul played a key role in taking us from a policy-holder owned company to a public company with an initial market capitalization of $5 billion, to our strong position today with a worth approaching $30 billion. He will continue to be an important member of the executive team until his departure next year.”

In commenting on his decision, Derksen noted: “Sun Life has a great management team, and we have accomplished a great deal under Don Stewart’s leadership since becoming a public company. My main focus is on the next three quarters and being part of our continued success. While I currently have no fixed plans for the period following my retirement, I look forward to spending more time with my family and enjoying a broader range of life interests.”

Derksen’s retirement will be effective after the completion of the 2006 financial reporting cycle, in early 2007. This timing enables the company to follow an orderly succession process and select the strongest possible successor.

Derksen joined Sun Life in February 2000, and was heavily involved in the Company’s initial public offering. He subsequently transformed the finance function, overseeing numerous important transactions and broad-based finance initiatives.