Definity Financial Corporation Announces Agreement To Acquire Canadian Operations Of Travelers For $3.3 Billion And Concurrent $351 Million Private Placements Of Common Shares

May 27 (Reuters) - Definity Financial Corp DFY.TO:

• DEFINITY FINANCIAL CORPORATION ANNOUNCES AGREEMENT TO ACQUIRE CANADIAN OPERATIONS OF TRAVELERS FOR $3.3 BILLION AND CONCURRENT $351 MILLION PRIVATE PLACEMENTS OF COMMON SHARES

• DEFINITY FINANCIAL CORP: PROPOSED DEAL IMMEDIATELY ACCRETIVE TO OPERATING EPS

• DEFINITY FINANCIAL CORP: EXPECT ABOUT $100 MILLION (PRE-TAX) OF RUN-RATE EXPENSE SYNERGIES FROM DEAL