Industrial Alliance Securities Selects Morningstar as Provider of Independent Equity Research



    TORONTO, Dec. 18 /CNW/ - Morningstar Canada, a wholly owned subsidiary of
Morningstar, Inc. (NASDAQ:   MORN), today announced that Industrial Alliance
Securities has selected Morningstar as a third-party provider of equity
research and ratings for its financial advisors.
    Industrial Alliance Securities advisors will have access to Morningstar
equity research on approximately 2,000 stocks across 130 industries worldwide.
Morningstar's independent equity research provides advisors with global
coverage of stocks by more than 100 Morningstar analysts and insightful
reports that include an investment thesis, competitive overview, Fair Value
Estimates underpinned by rigorous valuation models, risk level assessment, and
access to the Morningstar Rating(TM) for stocks, automatically updated every
trading day by comparing analysts' Fair Value Estimates to each stock's market
price. Morningstar's equity research provides Industrial Alliance Securities
advisors with an independent perspective that helps them effectively build and
monitor client stock portfolios.
    "The Morningstar Rating(TM) for Stocks highlights great opportunities for
investors by uncovering companies trading at significant discounts to what we
consider to be their fair values. By recalculating daily, the ratings quickly
adapt to market fluctuations, which helps steer investors toward undervalued
opportunities and away from overvalued ones. The rating is also risk-adjusted,
making it more difficult for a company with above-average business risk to
earn a 5-star rating," said Scott Mackenzie, president and CEO of Morningstar
Canada.
    "Industrial Alliance Securities is proud to provide this additional tool
to its advisors," said Lise Douville, President of Industrial Alliance
Securities. "Morningstar has a great reputation and its equity research is
highly regarded in the marketplace. With this research, Industrial Alliance
Securities' advisors will be able to provide more timely, more in-depth, more
informed and more accurate advice to their clients."

    About Morningstar, Inc. and Morningstar Canada

    Morningstar, Inc. is a leading provider of independent investment
research in the United States and in major international markets. The company
offers an extensive line of Internet, software, and print-based products and
services for individuals, financial advisors, and institutions. Morningstar
provides data on more than 260,000 investment offerings, including stocks,
mutual funds, and similar vehicles. The company has operations in 18 countries
and minority ownership positions in companies based in three other countries.
Morningstar Canada is a wholly owned subsidiary of Morningstar, Inc.

    About Industrial Alliance Securities

    Created in 2002, Industrial Alliance Securities Inc. (IA Securities) is a
full-service brokerage firm. It offers a wide range of financial products and
services, such as stocks, bonds and mutual funds, designed to meet the needs
of retail and institutional investors. IA Securities also operates a capital
market division. IA Securities has operations across Canada and administers
over $2 billion in assets. It is a member of the Investment Dealers
Association of Canada and the Canadian Investor Protection Fund. IA Securities
is a wholly owned subsidiary of Industrial Alliance Insurance and Financial
Services Inc. (Industrial Alliance), the fifth largest life and health
insurance company in Canada. A century-old company, Industrial Alliance is at
the head of a large financial group, which has operations across Canada as
well as in the western United States. Industrial Alliance manages and
administers over $50 billion in assets. Its stock is listed on the Toronto
Stock Exchange under the ticker symbol IAG. It ranks among the 100 largest
public companies in Canada.

    (C)2007 Morningstar, Inc. All rights reserved.




For further information:

For further information: Media Contact: Isabell Grygianiec, (416)
484-7868, isabell.grygianiec@morningstar.com


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