Robert L. Reynolds named President and CEO of Great-West Lifeco U.S. subsidiary Putnam Investments, LLC

    Charles E. Haldeman Named Chairman


    Readers are referred to the cautionary note regarding Forward-Looking
    Information at the end of this release.

    WINNIPEG, June 12 2008 /CNW/ - Great-West Lifeco Inc. announced today
that The Board of Directors of its U.S. subsidiary Putnam Investments named
Robert L. "Bob" Reynolds President and Chief Executive Officer of Putnam
Investments. Charles E. "Ed" Haldeman, currently President and CEO, Putnam
Investments has been named Chairman of Putnam Investment Management, LLC. Both
appointments are effective July 1, 2008.
    "Bob brings substantial industry experience, energy, and a fresh
perspective to Putnam's leadership team," said Mr. Jeffrey Orr, Chairman of
The Board of Directors of Putnam Investments. "Along with Kevin Cronin,
Putnam's Head of Investments, and Bill Connolly, Putnam's Head of Global
Distribution, we have a very strong management team to move Putnam forward."
    "We welcome Bob to the Putnam team," said Mr. Haldeman. "I personally
look forward to working with him as we continue positioning Putnam to exceed
our clients' expectations."
    "For more than two decades, I have known Putnam as a formidable and
respected investment management company, and, quite frankly, a very tough
competitor," said Mr. Reynolds. "Putnam has a strong reputation for its broad
investment management capability, distribution prowess, and award-winning
service. I am honored and excited to join Putnam and lead a company that has
one of the great legacies in the industry."
    Mr. Reynolds was Vice Chairman and Chief Operating Officer of Fidelity
Investments from 2000 to 2007. From 1996 to 2000, he was President, Fidelity
Investments Institutional Retirement Group. Previously Mr. Reynolds held
various senior management roles within the Fidelity Investments organization,
beginning in 1984.
    A native of Clarksburg, West Virginia, Mr. Reynolds graduated from the
West Virginia University College of Business and Economics in 1974 with a
bachelor's degree in business administration, majoring in finance.

    About Putnam

    Founded in 1937, Putnam Investments is one of the nation's oldest and
largest money management firms. As of May 31, 2008, Putnam managed US $175
billion in assets, of which US $103 billion is for mutual fund investors and
US $72 billion is for institutional accounts. Putnam has offices in Boston,
London, Frankfurt, Rome, Copenhagen, Sydney, Tokyo and Singapore. For more
information, go to

    About Great-West Lifeco

    Great-West Lifeco Inc. (TSX: GWO) is a financial services holding company
with interests in the life insurance, health insurance, retirement savings,
investment management and reinsurance businesses. Lifeco has operations in
Canada, the United States, Europe and Asia through The Great-West Life
Assurance Company, London Life Insurance Company, The Canada Life Assurance
Company, Great-West Life & Annuity Insurance Company, and Putnam Investments,
LLC. Lifeco and its companies have more than $398 billion in assets under
administration and are members of the Power Financial Corporation group of

    Cautionary note regarding Forward-Looking Information

    This release contains some forward-looking statements about the Company,
including its business operations, strategy and expected financial performance
and condition. Forward-looking statements include statements that are
predictive in nature, depend upon or refer to future events or conditions, or
include words such as "expects," "anticipates," "intends," "plans,"
"believes," "estimates" or negative versions thereof and similar expressions.
In addition, any statement that may be made concerning future financial
performance (including revenues, earnings or growth rates), ongoing business
strategies or prospects, and possible future Company action is also a
forward-looking statement. Forward-looking statements are based on current
expectations and projections about future events and are inherently subject
to, among other things, risks, uncertainties and assumptions about the
Company, economic factors and the financial services industry generally,
including the insurance and mutual fund industries. They are not guarantees of
future performance, and actual events and results could differ materially from
those expressed or implied by forward-looking statements made by the Company
due to, but not limited to, important factors such as sales levels, premium
income, fee income, expense levels, mortality experience, morbidity
experience, policy lapse rates and taxes, as well as general economic,
political and market factors in North America and internationally, interest
and foreign exchange rates, global equity and capital markets, business
competition, technological change, changes in government regulations,
unexpected judicial or regulatory proceedings, catastrophic events, and the
Company's ability to complete strategic transactions and integrate
acquisitions. The reader is cautioned that the foregoing list of important
factors is not exhaustive, and there may be other factors listed in other
filings with securities regulators, including factors set out under "Risk
Management and Control Practices" in the Company's 2007 Annual Management's
Discussion and Analysis, which, along with other filings, is available for
review at The reader is also cautioned to consider these and
other factors carefully and to not place undue reliance on forward-looking
statements. Other than as specifically required by applicable law, the Company
has no intention to update any forward-looking statements whether as a result
of new information, future events or otherwise.

For further information:

For further information: Marlene Klassen, APR, Assistant Vice-President,
Communication Services, (204) 946-7705

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