Sun Life Global Investments to expand its role with Sun Life Milestone Funds

TORONTO, Dec. 8, 2011 /CNW/ - Sun Life Global Investments (Canada) Inc. (Sun Life Global Investments) today announced that its in-house Portfolio Management Team will take on increased responsibilities for the Sun Life Milestone 2020 Fund, Sun Life Milestone 2025 Fund, Sun Life Milestone 2030 Fund, Sun Life Milestone 2035 Fund and Sun Life Milestone Global Equity Fund (the Funds). Subject to regulatory approval, this change is expected to be effective on or about January 3, 2012. With this transition, Sun Life Global Investments will remain the portfolio manager for the Funds and Sun Life Assurance Company of Canada will continue its role of sub-advisor. Sun Life Global Investments will continue to have access to the expertise of its affiliates in managing the Funds. Sun Capital Advisors LLC will no longer be a sub-advisor to the Funds.

Sun Life Global Investments has been overseeing Sun Capital Advisors management of the Funds to date, and will continue to work closely with them. There will be no change to the structure, objectives or strategies of the Funds and unitholders will not be affected by the transition. The defined maturity date and guaranteed value at maturity of the Sun Life Milestone 2020 Fund, Sun Life Milestone 2025 Fund, Sun Life Milestone 2030 Fund and Sun Life Milestone 2035 Fund will not be affected by the transition.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual fund values change frequently and past performance may not be repeated. Mutual funds are not generally guaranteed, although the Sun Life Milestone Funds benefit from the guarantee described below. We have structured each Sun Life Milestone Fund so that it will have sufficient assets to pay the Guaranteed Value per unit on its respective maturity date. If the net asset value per unit on the maturity date of a Sun Life Milestone Fund is less than the Guaranteed Value per unit, then Sun Life Assurance Company of Canada, as sub-advisor to the Sun Life Milestone Funds, (Sun Life, or the guarantor) has agreed to pay the shortfall to the Sun Life Milestone Fund. Any shortfall payment is subject to the financial health and creditworthiness of Sun Life. The respective maturity dates for the Sun Life Milestone Funds is June 30 of the year in the corresponding fund's name. The maturity date for a Sun Life Milestone Fund may be accelerated in certain circumstances, in which case an accelerated Guaranteed Value will be calculated using a net present value calculation. If this occurs, it is possible that you could receive less than $10 per unit, or less than your original investment. If you redeem your securities of the Sun Life Milestone Funds prior to their respective maturity dates, your redemption will be processed at the current net asset value per security, less any applicable redemption fees, and you will not benefit from the Guaranteed Value at maturity. Additional information, including specific risks associated with the Sun Life Milestone Funds, can be found in the prospectus.

Sun Life Global Investments and Sun Life Assurance Company of Canada are members of the Sun Life Financial group of companies.

About Sun Life Global Investments (Canada) Inc.
Sun Life Global Investments brings together the strength of one of Canada's most trusted names in financial services with some of the best asset managers from around the world. With a focus on risk management, our rigorous selection and monitoring process provides access to leading asset managers who use insight and innovation to manage some of the highest-quality investment solutions for Canadian investors. For more information, visit www.sunlifeglobalinvestments.com.

About Sun Life Financial
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 September 30, 2011, the Sun Life Financial group of companies had total assets under management of $459 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to Editors: All figures in Canadian dollars.