Unity Life of Canada Acquires Remaining Canadian Individual Life and Health Insurance Business of The Prudential Insurance Company of America

MISSISSAUGA, ON, August 1 - Unity Life of Canada (Unity Life) today announced that following regulatory approval, it has completed its previously announced acquisition of the Canadian Intermediate and Weekly Premium life and the Canadian Individual health insurance business of The Prudential Insurance Company of America (Prudential). As from August 1, 2006, Unity Life of Canada will assume Prudential's liabilities related to this business. Certificates of Assumption will be sent to policyholders.

This acquisition adds scale to Unity Life of Canada's book of business and demonstrates the company's ongoing strategy to pursue value-added acquisitions. Unity Life will provide cost-effective, long-term protection and insurance services to these policyholders.

About Unity Life of Canada

Unity Life of Canada originated in 1898 as the Insurance Department of the Subsidiary High Court of the Ancient Order of Foresters. This was followed in 1934 with incorporation as a mutual life insurance company, and a name change to Toronto Mutual Life Insurance Company in 1939. In 2002, Toronto Mutual Life amalgamated with subsidiary company, The Western Life Assurance Company, under a new identity, Unity Life of Canada, representing renewed vigour, strength and purposes.

Unity Life's overriding mandate is the provision of financial security to our policyholders. Our vision of ensuring quality of life is met through our focus on protection, security and well being of Canadians. At the core of Unity Life is an innovative and entrepreneurial drive built on achieving quality results, our commitment to serve, success through our people and partners, a drive for continuous improvement and learning, and a passion to achieve and excel in all that we do. Whether it is bringing innovative financial solutions to market or providing the technology and infrastructure to make doing business easier, we deliver unique and targeted solutions which provide value to our policyholders.

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Geoffrey L. Harrison, Vice-President, Compliance and Assistant Corporate Secretary, [email protected]; Mervyn P. Gillson, Vice-President, Chief Underwriter, [email protected], 1-800-781-5981