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Industrial Alliance announces the appointment of Michel Tremblay as Executive Vice-President, Investments

Quebec City,

News Release

Yvon Charest, President and CEO of Industrial Alliance Insurance and Financial Services Inc., is pleased to announce the appointment of Michel Tremblay as Executive Vice-President, Investments. Mr. Tremblay will replace Yvon Côté, who will be leaving Industrial Alliance at the beginning of 2008, after working there for the last 38 years.

Until recently, Mr. Tremblay held the position of Chief Operating Officer, Personal and Commercial Banking and Wealth Management at National Bank of Canada. At the age of 52, Mr. Tremblay has in-depth experience with financial markets, having successively worked at the Solidarity Life Insurance Company, the Optimum Group Inc. and ING before joining the National Bank and holding various executive positions in the investment and wealth management sectors. An Actuarial Science graduate from Laval University in 1977, Mr. Tremblay became a Fellow of the Canadian Institute of Actuaries (FCIA) and of the Society of Actuaries of Chicago (FSA) in 1980 and was certified as a chartered financial analyst (CFA) in 1988. Mr. Tremblay will begin his new duties on March 17, 2008. He will be in charge of Industrial Alliance’s investment activities, which are organized in two large sectors: general fund investments, involving securities, mortgages and real estate investments, and investment funds such as segregated and mutual funds. He will be in charge of young and dynamic teams who are eager to continue contributing to the Company’s growth. Mr. Tremblay will sit on the Industrial Alliance Planning Committee.

Mr. Tremblay will replace Yvon Côté, who is leaving Industrial Alliance after 38 years at the company, 25 of which he was responsible for investments. Now age 61, Mr. Côté joined the ranks of Industrial Alliance at the end of his studies in 1969. He held successive executive positions in information systems, administration, finance and investments. Since 2002, Mr. Côté has also been part of the Industrial Alliance Planning Committee, created in that same year. Moreover, Mr. Côté will remain associated with Industrial Alliance by sitting on the board of several of its subsidiaries. 

"I’m happy that we were able to attract a person as capable as Michel Tremblay to replace a person as competent as Yvon Côté," said Yvon Charest. "I would like to thank Yvon Côté for his long and loyal service, especially for having helped train a whole generation of young fund managers and for the leading role he played when Industrial Alliance went from a mutual company to a public company in 2000. I would also like to wish Michel Tremblay the best of luck in his new duties. Mr. Tremblay is joining us during a period of intense development, particularly in the wealth management sector, and brings with him extensive experience and knowledge of financial markets. His appointment will renew and enrich our executive team and give it new vitality. I’m sure that the Company will benefit enormously from his presence."

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, which has operations across Canada, as well as in the western United States. Industrial Alliance contributes to the financial well-being of over three million Canadians, employs more than 2,900 people and manages and administers over $50 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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Jacques Carrière
Vice-President, Investor Relations
Office: 418 684-5275