Great-West Lifeco Announces Redemption of Series E First Preferred Shares

TSX:GWO

WINNIPEG , Nov. 5, 2009 /CNW/ - Great-West Lifeco Inc. today announced that it intends to redeem all of its outstanding Series E First Preferred Shares on December 31, 2009 . The redemption price will be $26.00 for each Series E First Preferred Share plus an amount equal to all declared and unpaid dividends, less any tax required to be deducted and withheld by the Corporation. The paid-up capital of the Series E First Preferred Shares is $22.78 per share.

A formal notice and instructions for the redemption of the Series E First Preferred Shares will be sent to shareholders in accordance with the rights, privileges, restrictions and conditions attached to the Series E First Preferred Shares.

Great-West Lifeco Inc. (TSX:GWO) is a financial services holding company with interests in the life insurance, health insurance, retirement savings, investment management and reinsurance businesses. The Company has operations in Canada , the United States , Europe and Asia through The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company, Great-West Life & Annuity Insurance Company and Putnam Investments, LLC. Lifeco and its companies have nearly $455 billion in assets under administration and are members of the Power Financial Corporation group of companies.

* Assets as of September 30, 2009

For further information: Marlene Klassen, APR, Assistant Vice-President, Communication Services, [phone]