2006 News Releases

Tokyo - Manulife Life Insurance Co. Ltd. (Manulife Japan; President & CEO: Geoff Crickmay) officially obtained an upgrade of its financial strength rating to ‘AAA’ from ‘AA+’ from Standard & Poor’s Rating Services (S&P) as of November 7, 2006. This upgrade makes Manulife Japan the only one life insurer currently operating in Japan to be rated ‘AAA’, the highest level among 21 rating categories at S&P.

Manulife Japan’s ‘AAA’ rating is based on the company’s financial strength and strong support from Manulife Financial.

Manulife Japan’s President and CEO, Geoff Crickmay, made the following comment regarding the rating upgrade by S&P:

“We are very pleased to obtain the highest-level rating from one of the world’s most reliable rating agencies. Over the past several years, Manulife Japan has successfully achieved tremendous growth in business performance and has developed an even stronger financial foundation, through offering innovative products, through active and ongoing expansion of its sales channels, and through rigorous operation expense management. As one of the most important parts of the Manulife Financial Group, Manulife Japan will continue to focus its efforts on securing a leading position in the Japanese market, receiving strong support from Manulife Financial.”

S&P also raised the financial strength ratings on Manulife Financial’s other rated insurance subsidiaries to 'AAA' from 'AA+.' This upgrade makes Manulife one of only two publicly traded life insurance companies with 'AAA' rated insurance subsidiaries, the highest level among 21 rating categories at S&P.

About Manulife
Manulife Life Insurance Company (“Manulife Japan”), a member company of the Manulife Financial group, holds the highest level "AAA" credit rating from Standard & Poor’s, one of the world’s most reliable credit rating agencies (as of November 7, 2006).

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. Funds under management by Manulife Financial and its subsidiaries were Cdn$381 billion (US$341 billion) as at September 30.

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. Manulife Japan can be found on the Internet at www.manulife.co.jp.

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For more information, please contact
Saeko Yoshioka
Manulife Life Insurance Company
Telephone: 0424-42-7078