2006 News Releases

Greater China Economic Growth Story Resonates With Clients

Boston – The John Hancock Greater China Opportunities Fund has surpassed $100 million in assets under management, Keith F. Hartstein, President and Chief Executive Officer of John Hancock Funds, said today.

The fund, which is sub-advised by MFC Global Investment Management (U.S.A.) Limited and led by Hong Kong-based Senior Portfolio Manager Pauline Dan, was launched in June of 2005. Since inception, the fund has posted an average annual return of 36.56 percent.*

“We’re very pleased with the growth of assets in the fund. We believe the economic growth in Greater China has been a unique story that has resonated with our clients,” Mr. Hartstein said. “When we launched the fund, we knew that MFC Global’s strong presence and expertise in China would provide a unique investment opportunity for experienced investors looking to take advantage of that special market. It appears that investors agree.”

Mr. Hartstein noted that as a non-diversified fund in an emerging market, the John Hancock Greater China Opportunities Fund was designed for experienced, knowledgeable investors. “At the same time, we feel it provides an excellent vehicle for balancing the exciting opportunities in China with the potential risks,” he said.

MFC Global’s Ms. Dan said despite risks that come with emerging markets, the growth potential in China remains enormous. She believes the Chinese government is seeking to cool the economy somewhat from the annual growth rates of close to 10 percent that it has experienced over the last few years.

“Nevertheless, the trajectory of China’s growth rate has actually been similar to that of Japan and Korea during their headiest days of growth,” Ms. Dan said. “All economies reach points of maturity and growth in China eventually will slow. In the near term, however, I don’t see any major obstacles to continued solid economic growth over next few years.”

MFC Global brings extensive experience in China, has solid access to information and a disciplined investment process to identify the opportunities and manage the potential risks associated with investing in China’s emerging market, Ms. Dan said. MFC Global’s Hong Kong investment team has approximately $8.4 billion (U.S.) in assets under management.

She said her process combines top-down sector allocation and bottom-up stock selection to construct the Fund’s portfolio.

“The top down macro focus helps to determine market valuation and to identify themes,” she said. “Our bottom up research involves management meetings and on site due diligence across China. MFC Global has a significant presence on the ground in Greater China which allows us to get first hand perspectives on potential investments.”

She added that the majority of the fund’s holdings, at least 80 percent of which are in equity securities of companies located in China, Hong Kong or Taiwan, are held through more liquid stock exchanges such as Hong Kong, Singapore and Taiwan.

Ms. Dan cites three key factors that she believes may make investing in China attractive to investors: an increasingly business-friendly political structure; a growing middle class with rising income levels that will make the Chinese economy less export dependent; and decreasing market volatility.

China’s political structure has encouraged private business growth by reducing its own participation in the market. State-owned enterprise now constitutes 20 percent of the economy compared to 90 percent a decade ago. Additionally, since China joined the World Trade Organization in 2000, direct foreign participation in the domestic market is growing quickly.

China’s historical advantage was low cost labor, but the rising income level among the middle class is clearly the next growth engine. The middle class now stands at around 260 million (roughly the same as the entire US population) and is expected to grow by another 100-200 million within the next decade. This is driving more spending on domestic goods and services.

Compared with high earnings volatility back in the 1990s, the market’s breadth and depth has improved substantially and management focus has shifted to profitability. Volatility is falling as the market matures and more international investors get involved.

About John Hancock Funds
The Boston-based mutual fund business unit of John Hancock Financial Services, John Hancock Funds manages $50.7 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at September 30, 2006. For more information, visit www.jhfunds.com.

About MFC Global Investment Management
MFC Global Investment Management is the diversified investment management group of Manulife Financial, with investment offices in the United States, Canada, the United Kingdom, Japan, Australia, Hong Kong, and throughout Southeast Asia. MFC Global has more than 100 years of experience managing portfolios for the Manufacturers Life Insurance Company, John Hancock Life Insurance Company, and other major clients. With more than C$230 billion (more than U.S. $205 billion) in assets under management (as at September 30, 2006), MFC Global Investment Management is a leading global investment management group. Additional information about MFC Global Investment Management may be found at www.mfcglobal.com.

Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

*Performance figures assume that all distributions are reinvested. Performance quoted without sales charges would be reduced if the sales charges were applied.

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Contact:
Brian Carmichael
Phone: (617) 663-4748
E-mail: bcarmichael@jhancock.com