Industrial Alliance acquires the Promutuel building on the Grande Allée in Quebec City, and intensifies its presence in the local landscape

    QUEBEC CITY, March 19 /CNW Telbec/ - Industrial Alliance Insurance and
Financial Services Inc. announced today that it acquired the Promutuel
building on the Grande Allée in Quebec City's Sillery neighbourhood, right
across the street from its head office. This acquisition brings the number of
buildings that Industrial Alliance owns in Canada up to 31, for a total rental
space of 3.6 million square feet, and a market value of almost $625 million.
    The Promutuel building is located at 1091 Grande Allée West, in the
Sillery sector, adjacent to the Bois de Coulonge Park and less than one
kilometer from the Plains of Abraham. It features 52,000 square feet of rental
space, on a 57,000 square foot lot with 120 exterior parking spaces. The
building houses the head office of Promutuel, an insurance and financial
services company founded 150 years ago. Promutuel will remain a tenant of the
building until spring 2009, when it moves into a new building under
construction in the Lebourgneuf neighbourhood, in Quebec City's Rivières
    "This acquisition allows Industrial Alliance to enhance its presence in
the Quebec City landscape, while profiting from a concentration of buildings
on the Grande Allée, the most famous thoroughfare in the city," said Claude
Tessier, Vice-President, Real Estate Investments. This acquisition is the
ninth building that Industrial Alliance owns in the Quebec City region, for a
total rental space of 1.7 million square feet. It owns six buildings in the
sector of Sillery, close to its head office. This is an excellent long-term
investment for Industrial Alliance, which already owns top quality real estate

    About Industrial Alliance

    Founded in 1892, Industrial Alliance Insurance and Financial
Services Inc. is a life and health insurance company that offers a wide range
of life and health insurance products, savings and retirement plans, RRSPs,
mutual and segregated funds, securities, auto and home insurance, mortgage
loans and other financial products and services. The fifth largest life and
health insurance company in Canada, 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 contributes to the financial
well-being of over three million Canadians, employs more than 2,900 people and
manages and administers over $50 billion in assets. Industrial Alliance stock
is listed on the Toronto Stock Exchange under the ticker symbol IAG.
Industrial Alliance is among the 100 largest public companies in Canada.

For further information:

For further information: Jacques Carrière, Vice-President, Investor
Relations, (418) 684-5275, cell: 418 576-3624,;

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