Industrial Alliance Completes Acquisition of Money Concepts and AEGON Dealer Services Canada

    QUEBEC CITY, July 2 /CNW Telbec/ - Industrial Alliance Insurance and
Financial Services Inc. ("Industrial Alliance" or "IA") is pleased to announce
that it has obtained all regulatory authority approvals for the acquisition of
National Financial Corporation ("NFC"), the parent company of AEGON Dealer
Services Canada Inc., Money Concepts (Canada) Limited and National Financial
Insurance Agency Inc. NFC is a subsidiary of AEGON Canada Inc. The closing of
the transaction took place yesterday.
    This transaction, which was announced on May 9, 2008, strengthens IA's
position as a leader in the distribution of mutual funds in Canada by
expanding its diversified network of independent financial advisors. IA's two
mutual fund dealerships, Investia Financial Services Inc., which includes
Money Concepts financial franchises, and FundEX Investments Inc., have over
$17 billion in mutual fund assets under administration and over
2,500 financial advisors, making IA one of the five largest non-bank owned
mutual fund dealerships in Canada.

    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 fourth 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
wellbeing of over 3 million Canadians, employs more than 3,100 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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