Assisted Sales Program

Canada Life's Assisted Sales Program (ASP) enabling eligible shareholders to sell their Canada Life Financial common shares was terminated as a result of the acquisition of Canada Life Financial Corporation by Great-West Lifeco Inc. on July 10, 2003.

We are pleased to announce, however, that Great-West Lifeco Inc. has established an Assisted Sales Program effective July 15, 2003 for former participants in the Canada Life Assisted Sales Program (other than those resident in the U.S.) which will facilitate the sale of Great-West common shares, 4.80% Series E preferred shares and 5.90% Series F preferred shares received by Canada Life shareholders under the Great-West transaction.

Details of the Great-West Assisted Sales Program were mailed to eligible shareholders following the July 10, 2003 acquisition.

Questions regarding the Great-West Assisted Sales Program should be directed to Computershare, at the following telephone numbers:

• Canada and the United States 1-888-284-9137
• United Kingdom 0870 702 0164
• Republic of Ireland 01 216 3100
• All other locations (011) 514-982-7555