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Industrial Alliance to Hold an Investor Day in Toronto on June 20, 2006

Quebec City,

News Release

Industrial Alliance Insurance and Financial Services Inc. will be holding an Investor Day for the institutional investment community on Tuesday, June 20, 2006, from 8:30 a.m. to 12:30 p.m. (ET) at the MaRS Collaboration Centre, 101 College Street, Toronto, Ontario. The event will be hosted by Yvon Charest, President and Chief Executive Officer of Industrial Alliance, and feature presentations by Mr. Charest and other senior executives outlining the Company’s operations and strategy for growth.

Breakfast will be available on site prior to the event and the conference will be followed by a luncheon from 12:30 p.m. to 1:30 p.m. Institutional investors and financial analysts are invited to register for the conference by calling the Investor Relations Department at 418 684-5000, extension 5282, or by sending an e-mail to osee.audet@inalco.com. All related documents will be available on the Company’s website at www.inalco.com in the Investor Relations section under Events and Presentations/2006 Investor Day.

Conference Call
Those who are unable to attend the event can listen in on the conference and ask questions in real time via conference call by dialling 416 641-6440 or 1 800 215-6519 (toll-free). A recording of the conference call will be available for a one-month period as of 2:00 p.m. on Tuesday, June 20, 2006. To listen to the conference call recording, dial 416 626-4100 or 1 800 558-5253 (toll-free) and enter access code 21293724.

Webcast
The conference will also be webcasted on the Internet through a live audio feed with synchronized slides and viewers will be able to e-mail their questions. A link to the webcast will be available on the Company’s website at www.inalco.com in the Investor Relations section under Events and Presentations/2006 Investor Day. The webcast recording will also be available on the Company’s website for a period of 90 days after the event.

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 2 million Canadians, employs more than 2,700 people and manages and administers over $40 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