Sun Life Financial to redeem 8.526% Cumulative Capital Securities

    TORONTO, March 26 /CNW/ - Sun Life Financial Inc. (TSX/NYSE:  SLF) today
announced that the outstanding US$600 million principal amount of 8.526%
Cumulative Capital Securities (CUSIP: 86679PAA1) issued by Sun Life of Canada
(U.S.) Capital Trust I have been called for redemption on May 6, 2007. The
amount to be paid on redemption of a Cumulative Capital Security with a stated
amount of US$1,000 will be US$1,085.26, consisting of (1) the stated amount of
US$1,000, (2) US$42.63 of accumulated and unpaid distributions, and (3)
US$42.63 representing a pro rata share of the premium (at 104.263%) payable in
connection with the redemption of the Cumulative Capital Securities. The
premium payable in connection with the redemption will be charged to income in
the first quarter. The redemption of the Cumulative Capital Securities is part
of Sun Life Financial's ongoing management of its capital structure.

    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
December 31, 2006, the Sun Life Financial group of companies had total assets
under management of CDN$436 billion.
    Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under ticker symbol SLF.

For further information:

For further information: Media Relations Contact: Mei Ankrett, Director,
External Communications & Corporate Affairs, Tel: (416) 979-6334,; Investor Relations Contact: Kevin Strain,
Vice-President, Investor Relations, Tel: (416) 204-8163,

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