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Industrial Alliance Announces a Change in Investment Advisor for the Multi-Strategy Fund and the Global Trading Fund

Quebec City,

News Release

Industrial Alliance Insurance and Financial Services Inc. (Industrial Alliance) announced that Norshield Asset Management Ltd., the current investment advisor of the Multi-Strategy Fund and the Global Trading Fund, will be replaced by Lyxor Asset Management, a wholly-owned subsidiary of Société Générale.

As a result, the investment of the Multi-Strategy Fund made in preferred shares of Olympus Univest Ltd. and the investment of the Global Trading Fund made in preferred shares of Univest Diversified Fund I Ltd. will both be replaced with an investment in Class B shares of the MSCI Hedge Invest Lyxor Tracker Fund Ltd. This new investment will be composed of approximately 125 underlying funds that reflect the entire spectrum of various alternative investment strategies. This change will allow investors to benefit from maximum diversification and take advantage of the expertise of multiple fund managers.

The MSCI Hedge Invest Lyxor Tracker Fund Ltd. is managed by Lyxor Asset Management, a subsidiary of Société Générale, one of the largest financial institutions in the world. Lyxor Asset Management manages over C$60 billion in assets, making it one of the most important players in the hedge fund market.

The Multi-Strategy Fund is a segregated hedge fund offered by Industrial Alliance and its subsidiary, Industrial-Alliance Pacific Life Insurance Company, in the scope of the Alternative Investment Strategy product, as well as by The National Life Assurance Company of Canada, another subsidiary that was recently integrated with Industrial Alliance, in the scope of the Alternative Investment Strategy II product. The Global Trading Fund is a segregated hedge fund offered by The National Life Assurance Company of Canada in the scope of the Alternative Investment Strategy II product. Clients of The National Life Assurance Company of Canada also had the option of investing in these two funds indirectly through the means of a Flex Account universal life insurance policy.

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 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 $32.4 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