Sun Life Selects PAM for Multiple Locations; Completes Manila Implementation

Princeton, NJ, USA - 17 October 2006

Princeton Financial Systems, a wholly owned subsidiary of State Street Corporation and leading provider of investment management and accounting systems and ASP services for global institutional investors, announced Sun Life of Canada (Philippines), a part of the Sun Life Financial group of companies, has successfully implemented Princeton Financial Systems’ PAM portfolio management and accounting system. Sun Life had licensed the system earlier this year after a thorough evaluation of the available portfolio systems. Sun Life’s Manila operations selected PAM primarily for its multi-basis accounting flexibility and unit pricing capabilities.

The successful implementation of Sun Life in Manila strengthens an existing relationship between Princeton Financial and Sun Life. Sun Life of Canada’s home office has been a PAM client for over ten years, and Princeton has also recently signed Sun Life affiliates in Hong Kong and Indonesia, both of whom are scheduled to go live later this year.

Andrew Sehulster, Princeton Financial Systems’ Managing Director Asia/Pacific stated, "We are delighted that Sun Life Financial has selected PAM to support their complex back-office operations in a number of Asian markets, and we look forward to working closely in partnership with them to satisfy their changing needs in the years to come.”

"After conducting a thorough review of the various systems available, we are confident that the PAM solution offers the best combination of automation and flexibility for both our current and future requirements," said Caesar Altarejos Jr., Senior Vice President – Finance for Sun Life Philippines. "We have also been quite impressed with the Princeton Financial team’s proactive approach to solving our unique operational issues.”

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