Sun Life Financial declares quarterly dividend on Common and Preferred Shares

    TORONTO, July 31 /CNW/ - The Board of Directors of Sun Life Financial
Inc. (TSX/NYSE:   SLF) today announced a quarterly shareholder dividend of
$0.36 per common share, payable October 1, 2008 to shareholders of record at
the close of business on August 20, 2008. This is the same amount as paid in
the previous quarter.
    The Board of Directors of Sun Life Financial Inc. also announced the
following quarterly dividends on its Class A Non-Cumulative Preferred Shares
payable on September 30, 2008 to shareholders of record at the close of
business on August 20, 2008: $0.296875 per Series 1 share; $0.30 per Series 2
share; $0.278125 per Series 3 share; $0.278125 per Series 4 share; and
$0.28125 per Series 5 share.
    Sun Life Financial Inc. has designated the dividends referred to above as
eligible dividends for the purposes of the Income Tax Act (Canada).

    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
June 30, 2008, the Sun Life Financial group of companies had total assets
under management of $413 billion.
    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: Susan Jantzi, Senior
Manager, External Communications & Corporate Affairs, Tel: (519) 888-3160,; Investor Relations Contact: Paul Petrelli,
Vice-President, Investor Relations, Tel: (416) 204-8163,

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