Industrial Alliance Insurance and Financial Services completes $125 million public offering

On February 24th, 2006, Industrial Alliance Insurance and Financial Services ("IA") completed a public offering of $125 million of 5 million Non-Cumulative Class A Preferred Shares, Series B. These shares were issued under a prospectus supplement to IA base shelf prospectus dated February 19, 2004.

The dealers were Scotia Capital Inc., National Bank Financial Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Desjardins Securities Inc., Industrial Alliance Securities Inc. and Merrill Lynch Canada Inc.

The dealers were represented by Yvon Martineau, Mireille Tremblay and Mark Paterson from Fasken Martineau.