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Industrial Alliance Extends its Assisted Sales Program and is Paying the Sales Fees for a Limited Time

Quebec City,

News Release

Information Brochure

Industrial Alliance Insurance and Financial Services is pleased to announce that it is extending its Assisted Sales Program for company shares for at least another year, i.e., until March 2003. Furthermore, under a special offer, Industrial Alliance will pay the $25 fee (plus taxes) for the sale of Company shares. This special offer is available from December 10, 2001 to February 15, 2002.

The Industrial Alliance Assisted Sales Program is being offered to all registered shareholders who received Industrial Alliance shares as part of the Company´s demutualization in February 2000. Only shares received as part of the Company´s demutualization are eligible for the Assisted Sales Program. An information package on the Assisted Sales Program and the special offer has been included with the quarterly dividend payments that were mailed out today to all registered Industrial Alliance shareholders.

The Industrial Alliance Assisted Sales Program was set up in March 2000 in order to facilitate the sale of shares that policyholders received as part of Industrial Alliance’s demutualization process. The Program was slated to be in effect for a minimum period of two years, i.e., until March 2002. However, because of its popularity, Industrial Alliance has decided to extend the Program for at least one year, until March 2003.

Shareholders who wish to obtain more information about the Industrial Alliance Assisted Sales Program and the special offer are asked to contact Computershare at or toll free at 1-877-684-5000.

About Industrial Alliance
The Industrial Alliance Group is among the most solid financial institutions in the country, where it is an industry leader in insurance and financial services. The Group has operations across Canada through Industrial Alliance (Quebec City) and its subsidiaries, including IA Pacific Life (Vancouver) and National Life (Toronto). The seventh largest life and health insurer in Canada, the Industrial Alliance Group insures over 1.5 million Canadians and employs more than 2,000 people. The Group has over $14.7 billion in assets under management and under administration. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG. It is also listed on the TSE 300 and TSE 100, making Industrial Alliance one of the 100 largest public companies in Canada.

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Jacques Carrière
Vice-President, Investor Relations
Office:(418) 684-5275
Cellular:(418) 576-3624