Sun Life Financial creates mutual fund company to expand wealth offerings to
Canadians

Bringing top-tier U.S.-based global asset manager MFS to retail investors

TORONTO, May 13 /CNW/ - Sun Life Financial Inc. (TSX/NYSE:SLF) today announced it is expanding its wealth management capabilities by establishing its own mutual fund company and a new family of funds in Canada. The initiative includes bringing the investment capabilities of MFS Investment Management, Sun Life's U.S.-based asset manager, to Canadian retail investors.

"We are expanding our wealth business in Canada by bringing more choices and innovative products to retail investors," said Kevin Dougherty, President, Sun Life Financial Canada and President, Sun Life Global Investments. "Combined with our life insurance options, Sun Life is uniquely positioned to provide broad-based wealth management and protection solutions for Canadians through our trusted advisors."

Sun Life has $435 billion in assets under management and 300 years of experience across its operations and affiliated companies MFS, McLean Budden and Birla Sun Life Asset Management Company of India. The new fund company will harness the tremendous capabilities for investment management and innovative products across these operations as well as from a number of global strategic partners in the asset management business.

The new fund line-up will become available in the fall of 2010 through our Sun Life Financial advisors, wholesale distribution channel and segregated fund platform for inclusion in group retirement plans. The new line-up will be in addition to the funds already available to Sun Life advisors through our ongoing strategic partnership with CI Investments.

"Establishing a mutual fund company is an important step in Sun Life's strategy to grow our wealth management business in Canada," Dougherty noted. "It enhances the offerings of our advisors by providing them with an even broader suite of wealth products for our clients, along with Sun Life's industry-leading insurance products and services."

Dougherty noted that MFS' record of innovation stretches back to the 1920s when the firm invented the concept of mutual funds for the investing public.

"We are very excited to provide our advisors and clients access to MFS' global investment research, product diversity and top-tier performance, as well as high-performance offerings from McLean Budden which in the past have been primarily accessible only to pension funds, endowments and high net worth investors," he said.

Fact sheet - Sun Life Financial's new mutual fund company - www.sunlife.com/FactSheet

About Sun Life Financial

Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2010, the Sun Life Financial group of companies had total assets under management of $435 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to Editors: All figures in Canadian dollars.

For further information: Media Relations Contact: Frank Switzer, Vice-President, Corporate Communications, Tel: [phone], [email protected]; Investor Relations Contact: Phil Malek, Vice-President, Investor Relations, Tel: [phone], [email protected]