Sun Life Financial Announces Enhancements to its Canadian Dividend Reinvestment and Share Purchase Plan



    TORONTO, May 12 /CNW/ - Sun Life Financial Inc. today announced
amendments to its Canadian Dividend Reinvestment and Share Purchase Plan (the
"Plan"). Under the amended Plan:

    
    -   Sun Life may issue common shares from treasury at a discount of up to
        5% to the average market price (as calculated under the Plan). To
        date, all common shares acquired on behalf of participants in the
        Plan have been purchased through the TSX at the market price. At this
        time and until further notice, Sun Life has determined that dividends
        paid to Plan participants will be used to purchase common shares
        issued from treasury at a discount to the average market price of 2%.

    -   Canadian-resident preferred shareholders will be able to participate
        in the Plan by electing to have dividends paid on their preferred
        shares reinvested in common shares of Sun Life Financial Inc.

    -   Sun Life will pay, on behalf of Plan participants, all fees and
        expenses associated with the purchase of common shares under the
        Plan. Participants will be responsible for brokerage commissions
        payable on the sale of common shares held through the Plan.
    

    The changes will be effective starting with the dividends payable on June
30, 2009 to common and preferred shareholders of record on May 27, 2009. The
revised Plan is contained in the Amended and Restated Offering Circular which
is available at www.sunlife.com or www.cibcmellon.com.
    Enrollment forms will be mailed this week to Canadian-resident registered
owners of common shares. Enrollment forms can also be obtained by contacting
the Plan Agent, CIBC Mellon Trust Company, at www.cibcmellon.com. The amended
Plan will apply to existing participants. Those who wish to enroll in the Plan
in time for the June 30, 2009 dividend payment must have their enrollment
forms received by CIBC Mellon Trust Company before the close of business on
May 27, 2009. Non-registered beneficial owners of common and preferred shares
should contact the intermediary through which their shares are held for
instructions and deadlines for enrolling in the Plan.
    Sun Life will announce each quarter whether common shares will be
purchased under the Plan through the TSX or be newly-issued from treasury and,
if issued from treasury, the discount to the average market price, if any. Sun
Life may amend or cancel the discount at any time, and no discount will apply
on common shares acquired by participants through the optional cash purchase
feature of the Plan.

    About Sun Life Financial

    Sun Life Financial is a leading international financial services
organization providing a diverse range of protection and wealth accumulation
products and services to individuals and corporate customers. Chartered in
1865, Sun Life Financial and its partners today have operations in key markets
worldwide, including Canada, the United States, the United Kingdom, Ireland,
Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of
March 31, 2009, the Sun Life Financial group of companies had total assets
under management of $375 billion. For more information please visit
www.sunlife.com.
    Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under ticker symbol SLF.

    Note to Editors: All figures in Canadian dollars.





For further information:

For further information: Media Relations Contact: Steve Kee, Assistant
Vice-President, Communications, Tel: (416) 979-6237, steve.kee@sunlife.com;
Investor Relations Contact: Paul Petrelli, Vice-President, Investor Relations,
Tel: (416) 204-8163, investor.relations@sunlife.com


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