Sun Life Financial announces offering of Subordinated Unsecured Debentures

    TORONTO, May 25 /CNW/ - Sun Life Financial Inc. (TSX/NYSE:SLF) announced
today that it intends to issue in Canada up to $400 million principal amount
of Series 2007-1 Subordinated Unsecured 5.40% Fixed/Floating Debentures due in
2042 pursuant to its medium term note program. The offering is expected to
close on May 29, 2007 and the proceeds will be used for general corporate
purposes, including investments in subsidiaries.
    Details of the offering will be set out in a pricing supplement that the
Company intends to issue pursuant to its short form base shelf prospectus and
its prospectus supplement dated March 12, 2007, which will be available on the
SEDAR website for Sun Life Financial Inc. at www.sedar.com. The Series 2007-1
Debentures will be sold on a best efforts agency basis by a syndicate co-led
by RBC Dominion Securities Inc. and Scotia Capital Inc.
    The Series 2007-1 Debentures have not been and will not be registered
under the United States Securities Act of 1933, as amended, and may not be
offered, sold or delivered within the United States of America and its
territories and possessions or to, or for the account or benefit of, United
States persons except in certain transactions exempt from the registration
requirements of such Act. This release does not constitute an offer to sell or
a solicitation to buy such securities in the United States.

    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
March 31, 2007, the Sun Life Financial group of companies had total assets
under management in excess of $446 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 shown in Canadian dollars unless otherwise
    noted.