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John LeBoutillier Succeeds Raymond Garneau as Chairman of the Board of Industrial Alliance

Quebec City,

News Release

Industrial Alliance Insurance and Financial Services Inc. announced today that the Board of Directors has appointed John LeBoutillier to succeed Raymond Garneau as the Company’s Chairman of the Board. Mr. LeBoutillier’s appointment took place this afternoon at a board meeting that was held immediately after the Company’s annual general and special meeting. Mr. LeBoutillier’s appointment comes after his re-election by the shareholders as director during the annual meeting.

Mr. LeBoutillier has been a member of the Industrial Alliance Board of Directors since 1997. He will serve on the Company’s Executive Committee, Human Resources and Corporate Governance Committee and Ethics Committee. He will also be Director of Industrial Alliance Pacific Insurance and Financial Services Inc., a life and health insurance subsidiary of Industrial Alliance Insurance and Financial Services Inc., whose head office is in Vancouver.

Mr. LeBoutillier, who is a lawyer by profession, an MBA graduate and a Member of the Order of Canada, began his career at Price Company Ltd. where he was employed from 1970 to 1980. He then worked for Sidbec-Dosco from 1980 to 1996, where he served as President and Chief Executive Officer of Sidbec and Sidbec-Dosco Inc. from 1983 to 1994, and of Sidbec-Dosco (Ispat) Inc. from 1994 to 1996. Mr. LeBoutillier was then named President and Chief Executive Officer of IOC Mining Company, also known as Iron Ore Company of Canada, from 1996 to 2000. He is currently President and Chairman of the Board of Mazarin Inc., and its subsidiary Société Asbestos Ltd., a company dedicated to the development of the chrysotile sector.

Mr. LeBoutillier serves on the boards of several Canadian companies. He is presently Chairman of the Board of Roctest Ltd., and a board member at Novamerican Steel Inc., Shermag Inc., and the Société générale de financement du Québec.

Mr. Garneau has stepped down as Chairman of the Industrial Alliance Board of Directors because he has reached the maximum age specified by Company regulations to serve on the board. Mr. Garneau, who is a Member of the Order of Canada, has been with Industrial Alliance since 1988, where he held the position of President and Chief Operating Officer from 1988 to 1991, and President and Chief Executive Officer from 1991 to 2000. He was appointed Chairman of the Board in 1996.

About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. 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. Industrial Alliance insures over 1.7 million Canadians, employs over 2,600 people and manages and administers $30.0 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