Canada Life Financial Corporation is providing investors with information on its 2001 “embedded value,” another method for estimating the Company’s economic worth. This disclosure is consistent with the intention to provide increased transparency and value- added information in its financial reporting, says Canada Life.

“EV is the sum of the value of Shareholders’ Common Equity plus the present value of
projected future distributable profits, excluding any value of future new business.” Canada Life says its EV at December 31, 2001 was $5.45 billion, or $33.98 per share, an increase of $45 million over the previous year-end.

Before shareholder dividends, the Company’s EV increased by 10.7%, with $0.99 cents per share contribution from new business activities during 2001. The value added by new business during the year represents a 24% increase over the comparable figure for the year ended December 31, 2000.

Canada Life says its EV was calculated using methods consistent with the draft
guidelines published by the Canadian Institute of Actuaries in September 2000.

Canada Life is hosting a conference call at 2:30 p.m. Wed., April 3, during which senior executives will discuss the company’s EV.