Prospectus excerpt:  The holders of the Lifeco Series F Shares will be entitled to receive quarterly non-cumulative preferential cash dividends, if, as and when declared by the Lifeco Board of Directors, on the last day of March, June, September and December in each year at a rate equal to $0.36875 per share. The initial dividend, if declared, will be payable on September 30, 2003 and will be $0.33137 per share.

Redemption by Lifeco

The Lifeco Series F Shares will not be redeemable prior to September 30, 2008. Subject to the provisions of any shares of Lifeco ranking prior to or pari passu with the Lifeco Series F Shares, and to the provisions described under ‘‘— Restrictions on Dividends and Retirement Shares’’, Lifeco may redeem on or after September 30, 2008 all, or from time to time any, of the then outstanding Lifeco Series F Shares. Such redemption may be made upon payment in cash of the amount of $26.00 per share if redeemed during the 12 months commencing September 30, 2008, $25.75 if redeemed during the 12 months commencing September 30, 2009, $25.50 if redeemed during the 12 months commencing September 30, 2010, $25.25 if redeemed during the 12 months commencing September 30, 2011 and $25.00 if redeemed on or after September 30, 2012, in each case together with an amount equal to all declared and unpaid dividends thereon to but excluding the date of redemption. Lifeco shall provide not less than 30 nor more than 60 days’ notice of such redemption to each holder of Lifeco Series F Shares to be redeemed.