The 2004 balance is shown on a constant exchange
rate.

computers hong

Mandatory Provident Fund (MPF) product
sales in Hong Kong are included at Prudential's 36% interest in the
Hong Kong MPF operation .

internet asia

89 (2004: 1.

by japan

india commercial

The sterling results at successive
quarters and will include foreign exchange movements from earlier
periods.

by commerce

As of March
31, 2005, the Sun Life Financial group of companies had total assets
under management of CDN$366 billion.
(4) In Asia, 'Other' insurance operations include Thailand, the
Philippines and Vietnam .

economy kingdom

e solutions

The Board of Directors of Sun Life Financial Inc. also announced a
quarterly dividend of $0.89. The applicable
rate for Jackson National Life is 1.

kingdom by

Note to Editors: All figures in Canadian dollars.

solutions computers

Sun Life Financial declares quarterly dividend on Common and Preferred Shares

(8) Sales are converted using the year to date average exchange
rate applicable at the time.

This information is provided by RNS
The company news service from the London Stock Exchange

asia computers

(TSX:SLF) (NYSE:SLF)

PRESS RELEASE PRUDENTIAL PLC ANNOUNCES FIRST QUARTER 2005 NEW BUSINESS RESULTS - PART 2

The applicable
rate for Jackson National Life is 1.

by philippines

internet region

Sun Life Financial Inc.

belgium business

(TSX:SLF)(NYSE:SLF ) today announced a
quarterly shareholder dividend of 24 cents per common share, payable
June 30 , 2005, to shareholders of record at the close of business on
May 25, 2005.
(2) Represents cash received from sale of investment products.
(5) Balance includes segregated and pooled pension funds, private
finance assets and other institutional clients. Other movements
reflect the net flows arising from the cash component of a tactical
asset allocation fund managed by PPM South Africa.

hong commerce

Sun Life Financial Inc.
PART 2

Total Annual Equivalents(3)

2005 Q1 2004 Q1 +/-(%) 2005 Q1 2004 Q1 +/-(%)
YTD YTD YTD YTD
GBPm GBPm GBPm GBPm

UK Insurance
Operations
Direct to
Customer:
Individual 6 5 20% 2 2 0%

Pensions
Life - With 2 3 (33%) 0 0 0%
Profit Bond

Life - Other - - - - - -

Individual 167 151 11% 17 15 13%

Annuities

----- ----- ----- ----- ----- -----

Sub -Total 175 159 10% 19 18 6%
DWP Rebates 234 252 (7%) 23 25 (8%)
----- ----- ----- ----- ----- -----
Total 409 411 (0%) 43 43 0%
----- ----- ----- ----- ----- -----
Business to
Business:
Corporate 87 71 23% 37 35 6%

Pensions

Individual 49 48 2% 5 5 0%
Annuities
Bulk 215 139 55% 22 14 57%
Annuities

Total 351 258 36% 63 54 17%

Intermediated
Distribution :
Individual 26 21 24% 7 7 0%
Pensions
Corporate 12 67 (82% ) 3 9 (67%)
Pensions
Life - With 33 54 (39%) 3 5 (40%)
Profit Bond
Life - Other 226 142 59% 23 14 64%
Bond
Life - Other 1 1 0% 1 1 0%
Individual 269 228 18% 27 23 17%
Annuities

Sub-Total 567 513 11% 64 59 8%
DWP Rebates 80 92 (13%) 8 9 (11%)

Total 647 605 7% 72 68 6%

Partnerships:
Life - With - 1 - - 0 -
Profit Bond
Life - Other 198 164 21% 20 16 25%
Individual 44 23 91% 4 2 100%
Annuities
Bulk 25 - - 3 - -
Annuities

Total 267 188 42 % 27 19 42%

Total :

Individual 32 26 23% 10 9 11%
Pensions
Corporate 99 138 (28%) 40 44 (9%)
Pensions
Life - With 35 58 (40%) 4 6 (33%)
Profit Bond
Life - Other 226 142 59% 23 14 64%
Bond
Life - Other 199 165 21% 21 17 24%
Individual 529 450 18% 53 45 18%
Annuities
Bulk 240 139 73 % 24 14 71%
Annuities

Sub-Total 1,360 1,118 22% 173 149 16%

DWP Rebates 314 344 (9%) 31 34 (9%)

Total UK 1,674 1,462 15% 204 183 11%
Insurance
Operations

European
Insurance
Operations :
(1a)
Insurance 39 19 105% 4 2 100%
Products

Total 39 19 105% 4 2 100%

European
Insurance
Operations

Total UK & 1 ,713 1,481 16% 208 185 12%
European
Insurance
Operations

US Insurance
Operations :
(1a)
Fixed 165 323 (49%) 17 32 (47%)
Annuities
Fixed Index 127 69 84% 13 7 86%
Annuities
Variable 548 460 19% 55 46 20%
Annuities
Life 6 3 100% 3 2 50%

Sub-Total 846 855 (1%) 87 87 0%
Retail
Guaranteed 50 18 178 % 5 2 150%
Investment
Contracts
GIC - Medium 360 284 27% 36 28 29%
Term Note

Total US 1,256 1,157 9% 128 117 9%
Insurance
Operations

Asian Insurance
Operations :
(1a)

China 5 6 (17%) 4 3 33%

Hong Kong 69 66 5% 22 21 5%

India (@26%) 19 12 58% 18 11 64%
(6)

Indonesia 22 20 10% 9 9 0%

Japan 6 5 20% 2 2 0 %

Korea 31 34 (9%) 27 16 69%
Malaysia 14 10 40% 12 8 50%
Singapore 56 60 (7%) 16 15 7%
Taiwan 46 41 12% 24 32 (25%)
Other (4) 10 10 0% 8 8 0%

Total Asian 278 264 5% 142 126 13%
Insurance
Operations

Group Total 3,247 2,902 12% 478 429 11%

Schedule 1B - Actual Exchange Rates

PRUDENTIAL PLC - NEW BUSINESS - QUARTER 1 2005

TOTAL INSURANCE AND INVESTMENT NEW BUSINESS

UK & Europe US (1b)
2005 Q1 2004 Q1 +/-(%) 2005 Q1 2004 Q1 +/-(%)
YTD YTD YTD YTD
GBPm GBPm GBPm GBPm

Total 1,713 1,481 16% 1,256 1,190 6%
Insurance
Products
Total 2,092 722 190% - - -
Investment
Products -
Gross
Inflows (2)

Group Total 3,805 2,203 73% 1,256 1,190 6%

Asia(1b) Total

2005 Q1 2004 Q1 +/-(%) 2005 Q1 2004 Q1 +/-(%)
YTD YTD YTD YTD
GBPm GBPm GBPm GBPm

Total 278 264 5% 3,247 2,935 11%
Insurance
Products
Total 4,635 4,909 (6%) 6,727 5,631 19%
Investment
Products -
Gross
Inflows (2)

Group Total 4,913 5,173 (5%) 9,974 8,566 16%

INSURANCE OPERATIONS

Single Regular
2005 Q1 2004 Q1 +/-(%) 2005 Q1 2004 Q1 +/-(% )
YTD YTD YTD YTD
GBPm GBPm GBPm GBPm

UK Insurance
Operations :
Direct to
Customer:
Individual 4 3 33% 2 2 0%
Pensions
Life - With 2 3 (33%) - - -
Profit Bond
Life - Other - - - - - -
Individual 167 151 11% - - -
Annuities

Sub-Total 173 157 10% 2 2 0%
DWP Rebates 234 252 (7%) - - -

Total 407 409 (0%) 2 2 0%

Business to
Business:
Corporate 56 40 40% 31 31 0%
Pensions

Individual 49 48 2% - - -

Pensions

Bulk 215 139 55% - - -

Annuities

Total 320 227 41% 31 31 0%

Intermediated
Distribution :
Individual 21 16 31% 5 5 0%
Pensions
Corporate 10 65 (85%) 2 2 0%
Pensions
Life - With 33 54 (39%) - - -
Profit Bond
Life - Other 226 142 59% - - -
Bond
Life - Other - - - 1 1 0%
Individual 269 228 18% - - -
Annuities

Sub-Total 559 505 11% 8 8 0%
DWP Rebates 80 92 (13%) - - -

Total 639 597 7% 8 8 0%

Partnerships:
Life - With - 1 - - - -
Profit Bond
Life - Other 198 164 21% - - -

Individual 44 23 91% - - -

Annuities
Bulk 25 - - - - -
Annuities

Total 267 188 42% - - -

Total :
Individual 25 19 32% 7 7 0%
Pensions
Corporate 66 105 (37%) 33 33 0%
Pensions
Life - With 35 58 (40 %) - - -
Profit Bond
Life - Other 226 142 59% - - -
Bond
Life - Other 198 164 21% 1 1 0 %
Individual 529 450 18% - - -
Annuities
Bulk 240 139 73% - - -
Annuities

Sub-Total 1,319 1,077 22% 41 41 0%
DWP Rebates 314 344 (9%) - - -

Total UK 1,633 1,421 15% 41 41 0%
Insurance
Operations

European
Insurance
Operations :
(1b)
Insurance 39 19 105% - - -
Products

Total 39 19 105% - - -
European
Insurance
Operations

Total UK & 1,672 1,440 16% 41 41 0%
European
Insurance
Operations

US Insurance
Operations :
(1b)
Fixed 165 332 (50%) - - -
Annuities
Fixed Index 127 71 79% - - -
Annuities
Variable 548 473 16% - - -
Annuities
Life 4 1 300% 2 2 0 %

Sub-Total 844 877 (4%) 2 2 0%
Retail
Guaranteed 50 19 163% - - -
Investment
Contracts
GIC - Medium 360 292 23% - - -
Term Note

Total US 1,254 1,188 6% 2 2 0%
Insurance
Operations

Asian
Insurance
Operations :
(1b)
China 1 3 (67%) 4 3 33 %
Hong Kong 52 52 0% 17 16 6%
India (@26%) 1 1 0% 18 11 64%
(6)
Indonesia 15 13 15 % 7 9 (22%)
Japan 5 3 67% 1 2 (50% )
Korea 4 18 (78%) 27 13 108%
Malaysia 2 2 0% 12 8 50%
Singapore 45 50 (10%) 11 10 10%
Taiwan 24 10 140% 22 30 (27%)
Other (4) 2 2 0% 8 8 0%

Total Asian 151 154 (2%) 127 110 15%
Insurance
Operations

Group Total 3,077 2,782 11% 170 153 11%

Total Annual Equivalents(3)

2005 Q1 2004 Q1 +/-(%) 2005 Q1 2004 Q1 +/-(%)
YTD YTD YTD YTD
GBPm GBPm GBPm GBPm

UK
Insurance
Operations:
Direct to
Customer:
Individual 6 5 20% 2 2 0%
Pensions
Life - 2 3 (33%) 0 0 0%
With
Profit
Bond
Life - - - - - - -
Other
Individual 167 151 11% 17 15 13%
Annuities

Sub-Total 175 159 10% 19 18 6%

DWP 234 252 (7%) 23 25 (8 %)
Rebates

Total 409 411 (0%) 43 43 0%

Business
to
Business:
Corporate 87 71 23% 37 35 6%
Pensions
Individual 49 48 2% 5 5 0%
Pensions
Bulk 215 139 55% 22 14 57%
Annuities

Total 351 258 36% 63 54 17%

Intermediated
Distribution :
Individual 26 21 24% 7 7 0%
Pensions
Corporate 12 67 (82%) 3 9 (67%)
Pensions
Life - With 33 54 (39%) 3 5 (40%)
Profit Bond
Life - Other 226 142 59% 23 14 64%
Bond
Life - Other 1 1 0% 1 1 0%
Individual 269 228 18% 27 23 17%
Annuities

Sub-Total 567 513 11% 64 59 8%
DWP Rebates 80 92 (13%) 8 9 (11%)

Total 647 605 7% 72 68 6%

Partnerships:
Life - With - 1 - - 0 -
Profit Bond
Life - Other 198 164 21% 20 16 25%
Individual 44 23 91% 4 2 100%
Annuities
Bulk 25 - - 3 - -
Annuities

Total 267 188 42% 27 19 42%

Total :
Individual 32 26 23% 10 9 11%

Pensions
Corporate 99 138 (28%) 40 44 (9%)

Pensions

Life - With 35 58 (40%) 4 6 (33%)

Profit Bond

Life - Other 226 142 59% 23 14 64%
Bond

Life - Other 199 165 21% 21 17 24%
Individual 529 450 18% 53 45 18%
Annuities
Bulk 240 139 73% 24 14 71%
Annuities

Sub-Total 1,360 1,118 22% 173 149 16%
DWP Rebates 314 344 (9%) 31 34 (9%)

Total UK 1,674 1,462 15% 204 183 11%
Insurance
Operations

European
Insurance
Operations :
(1b)
Insurance 39 19 105% 4 2 100%
Products

Total 39 19 105% 4 2 100%
European
Insurance
Operations

Total UK & 1,713 1,481 16% 208 185 12%
European
Insurance
Operations

US Insurance
Operations :
(1b)
Fixed 165 332 (50%) 17 33 (48%)
Annuities
Fixed Index 127 71 79% 13 7 86%
Annuities
Variable 548 473 16 % 55 47 17%
Annuities
Life 6 3 100% 3 2 50%

Sub-Total 846 879 (4%) 87 90 (3%)
Retail
Guaranteed 50 19 163% 5 2 150%
Investment
Contracts
GIC - Medium 360 292 23% 36 29 24%
Term Note

Total US 1,256 1,190 6% 128 121 6%
Insurance
Operations

Asian Insurance
Operations :
(1b)
China 5 6 (17%) 4 3 33%
Hong Kong 69 68 1% 22 21 5%
India (@26%) 19 12 58% 18 11 64%
(6)
Indonesia 22 22 0% 9 10 (10%)

Japan 6 5 20% 2 2 0%

Korea 31 31 0% 27 15 80%

Malaysia 14 10 40% 12 8 50%

Singapore 56 60 (7%) 16 15 7%

Taiwan 46 40 15% 24 31 (23%)

Other (4) 10 10 0% 8 8 0%

Total Asian 278 264 5% 142 125 14%

Insurance
Operations

Group Total 3,247 2,935 11% 478 431 11%

Schedule 2
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 1 2005

INVESTMENT OPERATIONS

Opening FUM Gross inflows Redemptions Net inflows
GBPm GBPm GBPm GBPm
2005

M&G
Retail 11,613 801 (581) 220
Institutional(5) 17,092 1,291 (251) 1,040
------ ----- ------ -----
Total M&G 28,705 2,092 (832) 1,260
------ ----- ------ -----

Asia
India 2,144 2,699 (2,930) (231)
Taiwan 1,797 730 (893) (163)
Korea 1,426 672 (358) 314
Japan 1,638 430 (65) 365
Other Mutual 583 86 (174 ) (88)
Fund Operations
------ ----- ------ -----
Total Asian 7,588 4,617 (4,420) 197
Mutual Fund
Operations
------ ----- ------ -----
Hong Kong MPF 244 18 (6) 12
Products (@36%)
(6)
------ ----- ------ -----
Total Asian 7,832 4,635 (4,426) 209
Investment
Operations
------ ----- ------ -----

------ ----- ------ -----
Total 36,537 6,727 (5,258) 1,469
Investment
Products
------ ----- ------ -----

Other Market & Net Closing FUM
movements currency movement
movements in FUM
GBPm GBPm GBPm GBPm
2005

M&G
Retail - 33 253 11,866
Institutional(5) 69 (6) 1,103 18,195
------ ----- ------- ------
Total M&G 69 27 1,356 30,061
------ ----- ------- ------

Asia
India (21) 47 (205) 1,939
Taiwan - 50 (113) 1,684
Korea (19) 78 373 1,799
Japan - (71) 294 1,932
Other Mutual - (14) (102) 481
Fund Operations
------ ----- ------- ------
Total Asian (40) 90 247 7,835
Mutual Fund
Operations
------ -- --- ------- ------
Hong Kong MPF - (1) 11 255
Products (@36%)
(6)
------ ----- ------- ------
Total Asian (40) 89 258 8,090
Investment
Operations
------ ----- ------- ------

------ ----- ------- ------
Total 29 116 1,614 38,151
Investment
Products
----- - ----- ------- ------

Opening FUM Gross inflows Redemptions Net inflows
GBPm GBPm GBPm GBPm
2004

M&G
Retail 10,144 357 (364) (7)
Institutional (5) 14,048 365 (1,244) (879)
------ -- --- ------- ------
Total M&G 24,192 722 (1,608) (886)
------ ----- ------- ------
Asia

India 2,049 2,143 (2,326) (183)
Taiwan 2,666 1,890 (1,717) 173
Korea 933 618 (459 ) 159
Japan 411 103 (29) 74

Other Mutual Fund 341 138 (68) 70

Operations

------ ----- ------- ------
Total Asian Mutual 6,400 4,892 (4,599) 293
Fund Operations
------ -- --- ------- ------
Hong Kong MPF 196 17 (5) 12
Products(@36%)(6)
------ ----- ------- ----- -
Total Asian 6,596 4,909 (4,604) 305
Investment
Operations
------ ----- ------- ------
------ ----- ------- ------
Total Investment 30,788 5,631 (6,212) (581)
Products
------ ----- ------- ------

Other Market & Net Closing FUM
movements currency movement
movements in FUM
GBPm GBPm GBPm GBPm

2004

M&G
Retail - 100 93 10,237
Institutional (5) 98 154 (627) 13,421
------ --- -- ------- ------
Total M&G 98 254 (534) 23,658
------ ----- ------- ------
Asia

India (20) 39 (164) 1,885
Taiwan - 46 219 2,885
Korea (5) (24) 130 1,063
Japan - 2 76 487
Other Mutual Fund - 10 80 421

Operations

------ ----- ------- ------

Total Asian Mutual (25) 73 341 6,741
Fund Operations
------ ----- ------- ------
Hong Kong MPF - (2) 10 206
Products(@36%)(6)
------ ----- ------- ------
Total Asian (25) 71 351 6,947
Investment
Operations
------ ----- ------- ------
------ ----- ------- ------
Total Investment 73 325 (183) 30,605
Products
------ ----- ------- ------

Opening FUM Gross inflows Redemptions Net inflows

% % % %

2005 movement
relative to
2004

M&G
Retail 14% 124% (60%) 3243%
Institutional 22% 254% 80% 218%
(5)
----- ----- ----- -----
Total M&G 19% 190 % 48% 242%
----- ----- ----- --- --
Asia
India 5% 26% (26%) (26%)
Taiwan (33%) (61%) 48% (194%)
Korea 53% 9% 22% 97%
Japan 299% 317% (124%) 393%
Other Mutual 71% (38%) (156%) (226%)
Fund Operations
----- ----- ----- -----
Total Asian 19% (6%) 4% (33%)
Mutual Fund
Operations
----- ----- ----- -----
Hong Kong MPF 24% 6 % (20%) 0%
Products (@
36%)(6)
----- ----- ----- -----
Total Asian 19% (6%) 4% (31%)
Investment
Operations
----- ----- ----- -----
Total 19% 19% 15% 353%
Investment
Products
----- ----- ----- -----

Other Market & Net Closing FUM
movements currency movement
movements in FUM
% % % %
2005 movement
relative to
2004

M&G
Retail - (67%) 172% 16%
Institutional (30%) (104%) 276% 36%
(5)
----- ----- ----- -----
Total M&G (30%) (89% ) 354% 27%
----- ----- ----- ---- -
Asia
India (5%) 21% (25%) 3%
Taiwan - 9% (152%) (42%)
Korea (280%) 425% 187% 69%
Japan - (3650%) 287% 297%
Other Mutual - (240%) (228%) 14%
Fund Operations
----- ----- ----- -----
Total Asian (60%) 23% (28%) 16%
Mutual Fund
Operations
----- ----- ----- -----
Hong Kong MPF - 50 % 10% 24%
Products (@
36%)(6)
----- ----- ----- -----
Total Asian (60%) 25% (26%) 16%
Investment
Operations
----- ----- ----- -----
Total (60%) (64%) 982% 25%
Investment
Products
----- ----- ----- -----

US (7) 2005 Q1 2004 Q1 +/-(%)
YTD YTD
GBPm GBPm
Curian Capital
External Funds 642 237 171%
under
Administration
----- ----- -----

Schedule 3

PRUDENTIAL PLC - NEW BUSINESS - QUARTER 1 2005 VERSUS QUARTER 4
2004 (8)

INSURANCE OPERATIONS

Single Regular
Q1 2005 Q4 2004 +/-(%) Q1 2005 Q4 2004 +/-(%)
GBPm GBPm GBPm GBPm

UK Insurance
Operations :

Direct to
Customer:
Individual 4 2 100% 2 2 0%
Pensions
Life - With 2 2 0% - - -
Profit Bond
Individual 167 166 1% - - -
Annuities
----- ----- ----- --- -- ----- -----
Sub-Total 173 170 2% 2 2 0%
DWP Rebates 234 13 1700% - - -
----- -- --- ----- ----- ----- -----
Total 407 183 122% 2 2 0%
----- ----- ----- ----- ----- -----
Business to
Business:
Corporate 56 45 24% 31 33 (6%)
Pensions
Individual 49 68 (28%) - - -
Annuities
Bulk 215 222 (3%) - - -
Annuities
--- -- ----- ----- ----- ----- -----
Total 320 335 (4%) 31 33 (6%)
----- ----- ----- ----- ----- -----
Intermediated
Distribution:
Individual 21 10 110% 5 1 400%
Pensions
Corporate 10 7 43% 2 2 0%
Pensions
Life - With 33 43 (23%) - - -
Profit Bond
Life - Other 226 250 (10%) - - -
Bond
Life - Other - - - 1 1 0%

Individual 269 326 (17%) - - -
Annuities
----- ----- ----- ----- ----- -----
Sub -Total 559 636 (12%) 8 4 100%
DWP Rebates 80 (3) 2767% - - -
----- ----- ----- ----- ---- - -----
Total 639 633 1% 8 4 100%
----- ----- ----- ----- ----- -----
Partnerships:
Life - With - - - - - -
Profit Bond
Life - Other 198 214 (7%) - - -

Individual 44 53 (17%) - - -
Annuities
Bulk 25 1,108 (98%) - - -
Annuities
----- ----- ----- ----- ----- -----
Total 267 1,375 (81%) - - -
----- ----- ----- ----- ----- -----
Total :
Individual 25 12 108% 7 3 133%
Pensions
Corporate 66 52 27% 33 35 (6%)
Pensions
Life - With 35 45 (22%) - - -
Profit Bond
Life - Other 226 250 (10%) - - -
Bond
Life - Other 198 214 (7%) 1 1 0%

Individual 529 613 (14%) - - -
Annuities
Bulk 240 1,330 (82%) - - -
Annuities
----- ----- ----- ----- ----- -----
Sub-Total 1,139 2,516 (48%) 41 39 5%
DWP Rebates 314 10 3040% - - -
----- ----- ----- ----- ----- -----
Total UK 1,633 2,526 (35%) 41 39 5 %
Insurance
Operations
----- ----- ----- ----- ----- -----
European
Insurance
Operations :
(8)
Insurance 39 18 117% - 1 -
Products
----- ----- ----- ---- - ----- -----
Total 39 18 117% - 1 -
European
Insurance
Operations
----- ----- ----- ----- ----- - ----
----- ----- ----- ----- ----- -----
Total UK & 1,672 2,544 (34%) 41 40 3%
European
Insurance
Operations
----- ----- ----- ----- ----- -----
US Insurance
Operations :
(8)
Fixed 165 282 (41%) - - -
Annuities
Fixed Index 127 136 (7%) - - -
Annuities
Variable 548 492 11% - - -
Annuities
Life 4 6 (33%) 2 3 (33%)
----- ----- ----- ----- ----- -----
Sub-total 844 916 (8%) 2 3 (33%)
Retail
Guaranteed 50 74 (32%) - - -
Investment
Contracts
GIC - Medium 360 48 650% - - -
Term Note
----- ----- ----- ----- ----- -----

Total US 1,254 1,038 21% 2 3 (33%)

Insurance

Operations
-- --- ----- ----- ----- ----- -----
Asian
Insurance
Operations :
(8)
China 1 3 (67%) 4 5 (20%)
Hong Kong 52 94 (45%) 17 23 (26%)
India (@26%) 1 1 0% 18 8 125%
(6)
Indonesia 15 11 36% 7 8 (13 %)
Japan 5 5 0% 1 2 (50%)
Korea 4 6 (33%) 27 20 35%
Malaysia 2 2 0% 12 22 (45%)
Singapore 45 45 0% 11 16 (31%)
Taiwan 24 24 0% 22 48 (54%)
Other (4) 2 2 0% 8 10 (20%)
----- ----- ----- ----- ----- -----
Total Asian 151 193 (22%) 127 162 (22%)
Insurance
Operations
----- ----- ----- ----- ----- -----
----- ----- ----- ----- ----- -----
Group Total 3,077 3,775 (18% ) 170 205 (17%)
----- ----- ----- ----- ----- -- ---

Total Annual Equivalents(3)
Q1 2005 Q4 2004 +/-(%) Q1 2005 Q4 2004 +/-(%)
GBPm GBPm GBPm GBPm

UK Insurance
Operations :
Direct to
Customer:
Individual 6 4 50% 2 2 0%
Pensions
Life - With 2 2 0% 0 0 -
Profit Bond
Individual 167 166 1 % 17 17 0%
Annuities
----- ----- ----- ----- ----- -----
Sub-Total 175 172 2% 19 19 0%
DWP Rebates 234 13 1700% 23 1 2200%
----- ----- ----- ----- ----- -----
Total 409 185 121% 43 20 115%
----- ----- ----- ----- ----- -----
Business to
Business:
Corporate 87 78 12% 37 38 (3%)
Pensions
Individual 49 68 (28%) 5 7 (29%)
Annuities
Bulk 215 222 (3%) 22 22 0%
Annuities
----- ----- ----- ----- ----- -----
Total 351 368 (5%) 63 67 (6%)
----- ----- ----- ----- ----- -----
Intermediated
Distribution
:
Individual 26 11 136% 7 2 250%
Pensions
Corporate 12 9 33% 3 3 0%
Pensions
Life - With 33 43 (23%) 3 4 (25%)
Profit Bond
Life - Other 226 250 (10%) 23 25 (8%)
Bond
Life - Other 1 1 0% 1 1 0%

Individual 269 326 (17%) 27 33 (18%)
Annuities
----- ----- ----- ----- ----- --- --
Sub-Total 567 640 (11%) 64 68 (6%)
DWP Rebates 80 (3) 2767% 8 (0) -
----- ----- ----- ----- ----- -----
Total 647 637 2% 72 67 7%
----- ----- ----- ----- ----- -----
Partnerships:
Life - With - - - - - -
Profit Bond
Life - Other 198 214 (7%) 20 21 (5%)

Individual 44 53 (17%) 4 5 (20%)
Annuities
Bulk 25 1,108 (98%) 3 111 (97%)
Annuities
----- ----- ----- ----- ----- -----
Total 267 1,375 (81% ) 27 138 (80%)
----- ----- ----- ----- ----- - ----
Total :
Individual 32 15 113% 10 4 150%
Pensions
Corporate 99 87 14% 40 40 0%
Pensions
Life - With 35 45 (22%) 4 5 (20%)
Profit Bond
Life - Other 226 250 (10%) 23 25 (8%)
Bond
Life - Other 199 215 (7%) 21 22 (5%)

Individual 529 613 (14%) 53 61 (13%)
Annuities
Bulk 240 1,330 (82 %) 24 133 (82%)
Annuities
----- ----- ----- ----- ----- -----
Sub-Total 1,360 2,555 (47%) 173 291 (41%)
DWP Rebates 314 10 3040% 31 1 3000%
----- ----- ----- ----- ----- ---- -
Total UK 1,674 2,565 (35%) 204 292 (30%)
Insurance
Operations
----- ----- ----- ----- ----- -----
European
Insurance
Operations :
(8)
Insurance 39 19 105% 4 3 33%
Products
----- ----- ----- ----- ----- -----
Total 39 19 105% 4 3 33%
European
Insurance
Operations
----- ----- ----- ----- ----- -----
-- --- ----- ----- ----- ----- -----
Total UK & 1,713 2,584 (34%) 208 294 (29%)
European
Insurance
Operations
----- ----- ----- ----- ----- -----
US Insurance
Operations :
(8)
Fixed 165 282 (41%) 17 28 (39%)
Annuities
Fixed Index 127 136 (7%) 13 14 (7%)
Annuities
Variable 548 492 11% 55 49 12 %
Annuities
Life 6 9 (33%) 3 4 (25%)
----- ----- ----- --- -- ----- -----
Sub-total 846 919 (8%) 87 95 (8%)
Retail
Guaranteed 50 74 (32%) 5 7 (29%)
Investment
Contracts
GIC - Medium 360 48 650% 36 5 620%
Term Note
----- ----- ----- ----- -- --- -----
Total US 1,256 1,041 21% 128 107 20%
Insurance
Operations
----- ----- ----- ----- ----- -----
Asian
Insurance
Operations :
(8)
China 5 8 (38%) 4 5 (20%)
Hong Kong 69 117 (41%) 22 32 (31%)
India (@26%) 19 9 111% 18 8 125%
(6)
Indonesia 22 19 16% 9 9 0%
Japan 6 7 (14%) 2 3 (33%)
Korea 31 26 19% 27 21 29%
Malaysia 14 24 (42%) 12 22 (45%)
Singapore 56 61 (8%) 16 21 (24%)
Taiwan 46 72 (36 %) 24 50 (52%)
Other (4) 10 12 (17%) 8 10 (20%)
----- ----- ----- ----- ----- -----
Total Asian 278 355 (22%) 142 181 (22%)
Insurance
Operations
----- ----- ----- ----- ----- -----
--- -- ----- ----- ----- ----- -----
Group Total 3,247 3,980 (18%) 478 583 (18%)
----- ----- ----- ----- ----- -----

INVESTMENT OPERATIONS

M&G (5) Asia Mutual Funds

Q1 2005 Q4 2004 +/-(%) Q1 2005 Q4 2004 +/-(%)
GBPm GBPm GBPm GBPm

Opening FUM 28,705 25,876 11% 7,588 6,540 16%

Gross 2,092 2,393 (13%) 4,617 5,051 (9%)
inflows
Less (832) (1,006) 17% (4,420) (4,121) (7%)
redemptions
------ ----- ----- -- --- ----- -----
Net flows 1,260 1,387 (9%) 197 930 (79%)

Other 69 122 (43%) (40) (11) (264%)

movements

Market and 27 1,321 (98%) 90 129 (30%)
currency
movements

------ ----- ----- ----- ----- -----
Net 1,356 2,830 (52%) 247 1,048 (76%)
movement in
FUM
------ ----- ----- ----- ----- -----
Closing FUM 30,061 28,705 5% 7,835 7,588 3%
------ ----- ----- ----- ----- -----

Hong Kong MPF Products(6 ) Total Investment Products

Q1 2005 Q4 2004 +/-(%) Q4 2005 Q4 2004 +/-(%)
GBPm GBPm GBPm GBPm

Opening 244 232 5% 36,537 32,648 12%
FUM

Gross 18 17 6% 6,727 7,460 (10%)
inflows
Less (6) (5) (20%) (5,258) (5,132) 2%
redemptions

Net flows 12 11 9% 1 ,469 2,328 (37%)

Other - - - 29 111 (74%)
movements

Market and (1 ) 0 - 116 1,450 (92%)
currency
movements

------ ----- ----- ----- ----- -----
Net 11 12 (8%) 1,614 3,889 (58%)
movement
in FUM
------ ----- ----- ----- ----- -----
Closing 255 244 5% 38,151 36,538 4%
FUM
------ ----- ----- ----- ----- -----

Notes to Schedules :

(1a) Insurance and investment new business for overseas operations
has been calculated using constant exchange rates. A comparison between the
results at actual exchange rates and at constant exchange rates is
given in the press release.
(6) New business in India is included at Prudential's 26 % interest
in the India life operation.

commercial hong

region commerce

406678 per Class A Non-Cumulative Preferred
Shares Series 1, payable June 30, 2005, to shareholders of record at
close of business on May 25, 2005.84).

commerce europe

economy kong

Tracing its roots back to 1865, Sun Life Financial and its
partners today have operations in key markets worldwide, including
Canada, the United States, the United Kingdom, Hong Kong, the
Philippines , Japan, Indonesia, India, China and Bermuda.
(7) Balance sheet figures have been calculated at the closing
exchange rate.

phillipines commerce

This is the same amount as paid in the previous quarter.

Sun Life Financial is a leading international financial services
organization providing a diverse range of wealth accumulation and
protection products and services to individuals and corporate
customers. trades on the Toronto (TSX), New York
(NYSE) and Philippine (PSE) stock exchanges under ticker symbol SLF.
(3) Annual Equivalents, calculated as regular new business
contributions plus 10% single new business contributions, are
subject to roundings.

phillipines by

News Editors

TORONTO----The Board of Directors
of Sun Life Financial Inc.
(1b) Insurance and investment new business for overseas operations
has been calculated using average exchange rates.