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Industrial Alliance Publishes its Annual Report and Sends the Notice of Convocation for its Annual Meeting - 2003 | iA Financial Group

Quebec City,

News Release

It was today that Industrial-Alliance Life Insurance Company began sending its 2002 Annual Report and the Information Circular inviting shareholders and participating policyholders to the Company´s next General Annual and Special Meeting. This meeting will be held on Wednesday, May 7, 2003, at the Fairmont Le Château Frontenac Hotel, in Quebec City, at 2:00 p.m.

These documents are being sent to over 95,000 shareholders and over 85,000 participating policyholders over a five-day period from March 31 to April 4.

The Company´s annual report, which contains management´s discussion and analysis of results of operations and financial position and the 2002 financial statements, as well as the Information Circular, are available in the Investor Relations/Financial Reports section of the Company´s Web site at www.inalco.com. It is also possible to consult these documents on the SEDAR Web site at www.sedar.com.

Anyone interested in obtaining a printed copy of the annual report and Information Circular can contact the Investor Relations Department by telephone at (418) 684-5000, extension 5282.

About Industrial Alliance
Founded in 1892, Industrial Alliance is a life and health insurance company that offers a full line of insurance products and financial services. It is at the head of a large financial group, the Industrial Alliance Group, which is among the most solid financial institutions in the country. The Industrial Alliance Group has operations across Canada, through Industrial Alliance (Quebec City), National Life (Toronto) and Industrial Alliance Pacific (Vancouver). The seventh largest life and health insurance organization in Canada, the Industrial Alliance Group insures over 1.5 million Canadian, employs over 2,000 people and administers $16.8 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG. Today, Industrial Alliance is among the 100 largest public companies in Canada. The address of the Industrial Alliance Web site is www.inalco.com.

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