Industrial-Alliance Life Insurance Company is disclosing its embedded value as of December 31, 2000 of its general funds and its individual segregated funds.

Embedded value measures the economic worth of a life insurance company, not including the value of future sales. The embedded value reached $1,393 million as at December 31, 2000, or $37.08 per common share, an increase of 19.1% compared to December 31,1999.

The embedded value of the General Funds reached $1,285 million as at December 31, 2000, up by 20.1% compared to the comparable figure at the end of 1999, and that of Individual Segregated Funds totalled $108 million, 8.0% higher than December 31, 1999.

The embedded value/book value ratio reached 2.00 as at December 31,2000, up from 1.92 as at December 31, 1999.

New sales added $65 million to the embedded value in 2000, which is $1.73 per common share, while they added $54 million, or $1.43 per common share, in 1999.

Industrial Alliance is reminding investors that the calculation of embedded value is subject to uncertainties and risks inherent in this type of valuation and is not a measure of the current or future value of the Company’s common shares.

Industrial Alliance will be presenting its embedded value on Monday, June 18, at 11:00 a.m., at the Hotel Inter-Continental Toronto, 220 Bloor Street West, Toronto, Ontario.