Investor Approval of Fund Mergers

TORONTO, March 23, 2012 /CNW/ - McLean Budden Limited (MFS McLean Budden) and Sun Life Global Investments (Canada) Inc. (Sun Life Global Investments) have received investor approval for certain mutual fund mergers announced on December 8, 2011 at special meetings of unitholders held today.

Unitholders of the applicable mutual funds have approved the merger of each Terminating Fund listed below into the applicable Continuing Fund:

In addition, regulatory approval has been granted for the applicable mergers.

As previously announced, McLean Budden Money Market Fund will be merged into Sun Life Money Market Fund.  This merger does not require unitholder approval or regulatory approval.

All of the mergers, other than the merger of McLean Budden Global Equity Fund into Sun Life MFS Global Growth Fund and the merger of McLean Budden International Equity Fund into Sun Life MFS International Growth Fund, will be effective on or about the close of business on March 30, 2012. On this date, holders of units of each relevant Terminating Fund will receive units of the applicable Continuing Fund as a result of the merger and the Terminating Fund will be wound up as soon as possible following the merger.

The merger of McLean Budden Global Equity Fund into Sun Life MFS Global Growth Fund and the merger of McLean Budden International Equity Fund into Sun Life MFS International Growth Fund will not be effective March 30, 2012 and instead, will be effective on a future date to be determined by Sun Life Global Investments that is no later than December 31, 2012. Sun Life Global Investments is also authorized by unitholders to not to proceed with these mergers if Sun Life Global Investments considers it to be in the best interest of the applicable fund and its unitholders. Sun Life Global Investments will provide 60 days' prior written notice to unitholders of McLean Budden Global Equity Fund and McLean Budden International Equity Fund before implementing the mergers involving these funds.

These mergers are in connection with the transfer of the mutual fund business of McLean Budden Limited to Sun Life Global Investments (Canada) Inc. which is expected to close on April 2, 2012.

About MFS McLean Budden
MFS Investment Management and MFS McLean Budden have US$265.5 billion in combined assets under management (as of January 31, 2012). Analysts and portfolio managers provide research from offices in Boston, Chicago, London, Mexico City, Singapore, Sydney, Tokyo, Toronto, Vancouver and Montreal. For more information, please visit: www.mcleanbudden.com.

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, their rigorous selection and monitoring process provides access to leading asset managers who use insight and innovation to manage high 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 December 31, 2011, the Sun Life Financial group of companies had total assets under management of $466 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 unless otherwise noted.