Implications of Lehman's Bankruptcy Filing

Scotia Capital, 16 September 2008� Sun life disclosed yesterday afternoon $334 million exposure to Lehman bonds, with about one-half the exposure to senior-ranked bonds (which trade at 40-50 cents on the dollar) and one-half to subordinate debt (which trade at 10 cents on the dollar). The company noted the exposure relates to bonds backing policy liabilities, and that a charge would be taken in