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Industrial Alliance Appoints a New President at its Industrial Alliance Pacific Subsidiary

Vancouver,

News Release

Yvon Charest, President and Chief Executive Officer of Industrial Alliance Insurance and Financial Services, is pleased to announce the appointment of Gerry Bouwers as President and Chief Operating Officer of Industrial Alliance Pacific Insurance and Financial Services. Prior to his appointment, Mr. Bouwers occupied the position of Vice-President and General Manager, Individual Insurance and Annuities, Canada, at Industrial Alliance Pacific. This appointment comes after the retirement of John Gill as President of Industrial Alliance Pacific, announced on May 4.

"We are proud to announce this appointment and we look forward to Mr. Bouwers leading Industrial Alliance Pacific to the next level," stated Yvon Charest. "This appointment is the continuation and crowning achievement in Mr. Bouwers’ career at Industrial Alliance Pacific. I know that he will meet his new responsibilities with great enthusiasm and vigour."

Industrial Alliance Pacific is the Vancouver-based life and health insurance subsidiary of Industrial Alliance. As the new president, Mr. Bouwers’ mandate will be to pursue the growth of individual insurance and wealth management activities in Western Canada, in close conjunction with the parent company, as well as to continue to develop Industrial Alliance Pacific’s two niche markets across the country, these being the automobile dealer creditor insurance sector (SAL) and the special markets group insurance sector (SMG).

Mr. Bouwers holds a Master’s degree in mathematics (computer science) from the University of Waterloo. He is also a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries. Mr. Bouwers, who has always worked in the field of insurance, began his career in 1974 and has occupied several positions at different life insurance companies, including North West Life and Seaboard Life. These two latter companies were acquired by Industrial Alliance in 1982 and 1999 respectively and merged in 1999 to form the company now known as Industrial Alliance Pacific.

Mr. Charest also announced the promotion of Mike Stickney as Executive Vice-President, U.S. Development, Industrial Alliance. In his new position, Mr. Stickney will be responsible for managing and developing Industrial Alliance Pacific’s U.S. operations, which are primarily concentrated in certain target markets in the north-west. He will report to the President and CEO of Industrial Alliance.

Mr. Stickney holds a Bachelor’s degree in science (mathematics) and an MBA from the University of British Columbia. He is also a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries and a Member of the American Academy of Actuaries. He began his career in 1976 at North West Life, before going on to occupy various insurance-related positions at other companies, including Seaboard Life. Prior to his appointment, Mr. Stickney occupied the position of Vice-President and General Manager, Group Insurance, at Industrial Alliance Pacific. He was head of the SAL and SMG sectors and made a solid contribution to the continued growth of these two sectors, for which Industrial Alliance Pacific has built a reputation for excellence and is an industry leader.

"We anticipate Mr. Stickney will be just as successful in managing the U.S. operations for Industrial Alliance Pacific as he was in managing the SAL and SMG businesses," emphasized Mr. Charest. "The two appointments announced today are an acknowledgement of the talent found on our team and ensure strong development and synergy perspectives for Industrial Alliance and Industrial Alliance Pacific."

About Industrial Alliance and Industrial Alliance Pacific
Industrial Alliance Pacific Insurance and Financial Services is a life and health insurance company whose origins go back to 1912. Acquired in 1982 by Industrial Alliance Insurance and Financial Services, Industrial Alliance Pacific offers the same line of products and services as the parent company for the individual insurance and wealth management sectors, which are largely integrated with the parent company. Industrial Alliance Pacific also specializes in two specific market niches: automobile dealer creditor insurance and special markets group insurance.

Founded in 1892, Industrial Alliance Insurance and Financial Services is a life and health insurance company that offers a wide range of life and health insurance products, savings and retirement plans, RRSPs, mutual and segregated funds, securities, auto and home insurance, mortgage loans and other financial products and services. The fifth largest life and health insurance company in Canada, Industrial Alliance is at the head of a large financial group – the Industrial Alliance Group – which has operations across Canada as well as in the Northwestern United States. Industrial Alliance insures over 1.7 million Canadians, employs more than 2,600 people and manages and administers $30.9 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG. Industrial Alliance is among the 100 largest public companies in Canada.

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