Disposal

Sun Life Fin.Services of Canada Inc
14 September 2001

SUN LIFE FINANCIAL ANNOUNCES SALE OF UK BANK TO PORTMAN BUILDING SOCIETY

(TORONTO, ON September 14, 2001) - Sun Life Financial Services of Canada Inc. 
(NYSE, TSE: 'SLC') announced today that it has signed a definitive agreement for
the sale of its UK subsidiary Sun Bank plc (the 'Bank') for approximately £95 
million to Portman Building Society ('Portman'). The sale is subject to certain 
conditions, including approval from regulators in the UK, and is expected to 
close in the fourth quarter.  Proceeds from the sale of the Bank are intended to
be used for general corporate purposes.

'As a result of the ongoing strategic review of all business units in the UK, we
have decided to sell Sun Bank,' said Donald A. Stewart, Chairman and Chief 
Executive Officer of Sun Life Financial. 'Achieving our shareholder objectives 
includes exiting businesses 'which are not part of our overall wealth management
and protection growth strategy.'

Based in Stevenage, UK, Sun Bank is primarily a mortgage bank and savings bank, 
with approximately £990 million of residential mortgages and residential 
investment mortgages, and total assets of more than £1.1 billion as of June 30, 
2001. In the residential mortgage market, the Bank has particular expertise in 
the complex prime mortgage segment. The Bank has a total of approximately 75,000
customers.

Portman is the fourth largest building society in the UK, with assets or 
approximately £7 billion. Based in Bournemouth, Dorset, Portman employs 
approximately 1,400 people and serves 1.5 million customers through 114 branches
primarily in the south of England.

Morgan Stanley & Co. Limited acted as financial advisors on behalf of Sun Life 
Financial for this transaction.

Sun Life Financial is a leading international financial services organization 
providing a diverse range of wealth accumulation and protection products and 
services to individuals and corporate customers. Tracing its roots back to 1871,
Sun Life Financial and its partners today have operations in key markets 
worldwide, including Canada, the United States, the United Kingdom, Hong Kong, 
the Philippines, Japan, Indonesia, India, and Bermuda. As of June 30, 2001, the 
Sun Life Financial group of companies has total assets under management of 
Cdn$326 billion.

Sun Life Financial Services of Canada Inc. trades on the Toronto (TSE), New York
(NYSE) and Philippine (PSE) stock exchanges under ticker symbol 'SLC,' and on 
the London Stock Exchange under ticker symbol 'SFC.'
 

Media Contact;

John Vincic                Francine Cleroux 
416-979-6070               514-866-2561

Investor Relations Contact:            
Tom Rice 
416-204-8163