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Industrial Alliance Completes Acquisition of Money Concepts and AEGON Dealer Services Canada

Quebec City,

News Release

Industrial Alliance Insurance and Financial Services Inc. ("Industrial Alliance" or "IA") is pleased to announce that it has obtained all regulatory authority approvals for the acquisition of National Financial Corporation ("NFC"), the parent company of AEGON Dealer Services Canada Inc., Money Concepts (Canada) Limited and National Financial Insurance Agency Inc. NFC is a subsidiary of AEGON Canada Inc. The closing of the transaction took place yesterday.

This transaction, which was announced on May 9, 2008, strengthens IA’s position as a leader in the distribution of mutual funds in Canada by expanding its diversified network of independent financial advisors. IA’s two mutual fund dealerships, Investia Financial Services Inc., which includes Money Concepts financial franchises, and FundEX Investments Inc., have over $17 billion in mutual fund assets under administration and over 2,500 financial advisors, making IA one of the five largest non-bank owned mutual fund dealerships in Canada.

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 fourth 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 wellbeing of over 3 million Canadians, employs more than 3,100 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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Industrial Alliance - Jacques Carrière
Vice-President, Investor Relations
Office: 418 684-5275