people performance progress people performance progress protection Financial Solutions for Life ® November 2004

AGENDA Welcome Annual General Meeting (video) Introducing Personal Investment Portfolio enhancements McLean Budden Savings and Retirement products in – Windows They’re Back … Break (15 minutes) Franklin Templeton What we’ve done in 2003 How to make more money at RRSP time Conference 2005

AGENDA Welcome Annual General Meeting (video) Introducing Personal Investment Portfolio enhancements McLean Budden Savings and Retirement products in – Windows They’re Back … Break (15 minutes) AIM Trimark What we’ve done in 2003 How to make more money at RRSP time Conference 2005

AGENDA Welcome Annual General Meeting (video) Introducing Personal Investment Portfolio enhancements McLean Budden Savings and Retirement products in – Windows They’re Back … Break (15 minutes) Bissett What we’ve done in 2003 How to make more money at RRSP time Conference 2005

Our Vision “A team of quality employees and independent producers focused on…delivering competitive products and superior service to target markets… applying technology and continuous improvement…consistent profit, financial strength and enduring stability”

The Equitable Life Annual General Meeting Shortcut goes here

Introducing… Financial Solutions for Life®

Introducing… Financial Solutions for Life®

personal investment portfolio All of the features you liked…  Contract-Based Maturity and Death Benefit Guarantees  Internal Dollar Cost Averaging  Guaranteed Deposit Accounts and Segregated Funds in one convenient package  And more…

personal investment portfolio Some great enhancements effective January 5 th, 2004 on both in force and NEW business  Seven more segregated funds – bringing our total to SEVENTEEN!  Additional GDA Terms (61 – 119 months)  Asset Rebalancing  More materials to support your sale Investor Profiler  Moved the entire Savings and Retirement Line into a Windows ® illustration platform

personal investment portfolio Equitable Life’s Segregated Fund Selection Process

Fund Manager Selection Philosophy Funds must be “Brand Name”  Fund Managers must be easily recognizable by our producers Funds must be considered “Top Performing”  Net quarterly returns must have been in the 1 st or 2 nd quartile for at least five years The partnership must be profitable  Where we can offer recognizable brand name funds with competitive Management Expense Ratios Fund Manager will provide acceptable support  Assisting us in achieving our service standards

Possible Fund Region Categories Canada United States Developed Markets WORLD North AmericaEuropeAsia Pacific EMU Emerging Markets Eastern Europe Latin America Far East Europe & Middle East Emerging markets, specialty and sector funds are too volatile for Equitable Life and its policyholders. It is advisable to remain within developed market regions (i.e. North America, Europe, EAFE, etc.). EAFE

Current Individual Fund Offerings Equity Styles Growth Style Core/Garp Style Value Style Fixed Income Large Cap Mandate No Cap Mandate Small & Mid Cap Mandate Canadian Stock World EAFE Canada United States Asset Allocation Money Market Canadian Bond. American Growth US Equity European Asian Pacific International Int’l. Fixed Income

New Individual Fund Offerings Equity Styles Growth Style Core/Garp Style Value Style Fixed Income Large Cap Mandate No Cap Mandate Small & Mid Cap Mandate Canadian Stock World EAFE Canada United States Asset Allocation Money Market Canadian Bond. American Growth US European Asian Pacific International Int’l. Fixed Income Cdn. Dividend Income Cdn. Equity Growth European Global Balanced US Small Companies Cdn. Equity Value Global Growth

New Fund Offerings The new Segregated Funds, when combined with our existing Segregated Funds and the ability to have Guaranteed Deposit Accounts all in one package, enable you to design a portfolio to meet all of your clients’ unique investment styles and needs.

personal investment portfolio Strategic Partnerships  McLean Budden and Franklin Templeton are already strategic partners

personal investment portfolio  Mackenzie is a newer strategic alliance (in May with Linked Interest Options)  Aim Trimark and Bissett are brand new strategic partners with Equitable Life.

personal investment portfolio Segregated Fund Family  Fixed Income Funds Money Market Fund (100% RRSP Eligible) Canadian Bond Fund (100% RRSP Eligible) Equitable Life Templeton Global Bond Fund (formerly the International Fixed Income Fund, name change effective January 5, 2004) (Eligible as foreign content only)  Balanced and Asset Allocation Asset Allocation Fund (100% RRSP Eligible) Equitable Life Trimark Global Balanced Fund (effective January 5, 2004) (Eligible as foreign content only)

personal investment portfolio Segregated Fund Family  Domestic Equity Canadian Stock Fund Equitable Life AIM Canadian Premier Fund* Equitable Life Bissett Dividend Income Fund* Equitable Life MB Canadian Equity Value Fund*  Foreign Equity Asian-Pacific Equity Fund Equitable Life Templeton Growth Fund* Equitable Life Trimark Europlus Fund* European Equity Fund International Fund * Effective January 5, 2004

personal investment portfolio Segregated Fund Family  U.S. Equity American Growth Fund Equitable Life Mackenzie Universal US Emerging Growth Fund* U.S. Equity Fund * Effective January 5, 2004

personal investment portfolio Guaranteed Deposit Accounts  Currently offer Terms of 12 – 60 months and 10 years  Effective January 5, 2004, clients can select terms from 61 – 119 months as well!

personal investment portfolio Asset Rebalancing Option  Helps ensure your clients’ asset mix remains consistent with their financial objectives  Internal transfers are performed on the elected funds to restore the asset mix chosen by the client  Can be performed on as many or as few funds as your client elects  Available on the Segregated Funds only

personal investment portfolio Opening Value Selected Rebalance Percentage Percentage End of Year Value at End of Year Value After Rebalance Percentage After Rebalance Fund 1 Fund 2 Fund 3 Fund 4 $3,000 $2,000 $5,000 $1,500 30% 20% 50% N/A $3,200 $1,900 $5,700 $1,580N/A 29.6% 17.6% 52.8% $3,240 $2,160 $5,400 $1,580N/A 30% 20% 50% Example: Your client has elected to rebalance 3 of their 4 funds on an annual basis In this example, $300 is transferred from Fund 3 ($40 to Fund 1 and $260 to Fund 2) on the rebalancing date. Fund 4 has been excluded.

personal investment portfolio Investment Profiler  Studies suggest that Asset Allocation accounts for 90% of the variability or returns in a portfolio  Equitable Life’s Investor Profiler questionnaire assists in matching the portfolio that is unique to your client based on time frame, risk tolerance and financial objectives  The results assist in determining which asset classes should be allocated to your client’s portfolio and in which proportions.

personal investment portfolio Strategic Asset Allocation  Creates a portfolio consistent with time horizon, risk tolerance and financial goals Dynamic Asset Allocation  Systematic rebalancing of a portfolio to maintain the original Strategic Asset Allocation Tactical Asset Allocation  Equitable’s actively managed Segregated Funds shift their holdings based on changes in market cycle shifts or other opportunities

personal investment portfolio With the Asset Rebalancing option and the assistance of the Investment Profiler you can meet all of your clients’ unique portfolio requirements Investment Profiles:  Conservative 100% Guaranteed (Guaranteed Deposit Accounts)

personal investment portfolio Moderate Conservative - 50% Guaranteed, 30% Balanced/Fixed Income, 20% Equity Balanced – 20% Guaranteed, 30% Balanced/ Fixed Income, 50% Equity Moderate Aggressive – 30% Balanced/Fixed Income, 70% Equity Aggressive – 10% Balanced/Fixed Income, 90% Equity

personal investment portfolio Equitable’s InvestmentsConservativeBalanced Moderate Conservative Moderate Aggressive Aggressive Guaranteed Guaranteed Deposit Accounts (Terms 12 – 120 months) Domestic Equity: Canadian Stock Equitable Life AIM Canadian Premier Equitable Life Bissett Dividend Income Equitable Life MB Canadian Equity Value Foreign Equity: Asian Pacific Equity Equitable Life Templeton Growth Fund Equitable Life Trimark Europlus Fund European Equity Fund International Fund U.S. Equity American Growth Fund Equitable Life Mackenzie Universal US Emerging Growth U.S. Equity Fund Canadian Bond Equitable Life Templeton Global Bond Asset Allocation Equitable Life Trimark Global Balanced Money Market Investment Profile Categories: Balanced/ Fixed Income Equity 100%50% 30% 20% 30% 50% 30%10% 70%90%

Investor Profiler

More Marketing Materials Financial Advisors Guide Equitable Life Investment Management Team Brochure Personal Investment Portfolio Client Brochure Protection For Your Estate More to come…

personal investment portfolio Moved the Illustrations system from DOS to Windows ® for all Savings and Retirement Products