2006 News Releases

Boston – John Hancock today announced that Standard & Poor’s Rating Services (S&P) has upgraded the financial strength rating of its insurance subsidiaries from ‘AA+’ to ‘AAA’. The upgrades are effective today.

The upgrade was part of a broader action by S&P regarding John Hancock’s parent company, Manulife Financial; the ratings of Manulife’s insurance subsidiaries were increased from ‘AA+’ to ‘AAA’.

The AAA rating is the highest level among 21 rating categories at S&P. Manulife is one of only two publicly traded life insurance companies with ‘AAA’-rated insurance subsidiaries.

John Hancock’s rating upgrades are based on its strategic importance in the Manulife Financial Group, its stand-alone financial strength and the financial flexibility it has as part of Manulife.

“We are very pleased to obtain the highest possible rating from one of the world’s most reliable and prestigious rating agencies. This is excellent news for the company, its distributors and customers,” said John Hancock President and Chief Executive Officer, John D. DesPrez III. “John Hancock has demonstrated tremendous growth in its business performance. We have a very solid financial foundation; our sales are strong driven by ongoing product innovation, excellent distribution and the powerful John Hancock brand; and we continue to exhibit our trademark financial discipline and expense management. We look forward to continued strong growth and to being a key driver of Manulife Financial’s success.”

John Hancock Life Insurance Co., John Hancock Variable Life Insurance Co., John Hancock Life Insurance Co. (U.S.A.), and John Hancock Life Insurance Co. of New York were raised from ‘AA+’ to ‘AAA’. The outlook is stable.

About John Hancock and Manulife Financial
John Hancock is a wholly-owned subsidiary of Manulife Financial Corporation, 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, 2006.

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.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including universal life insurance, variable life, term life and whole life, as well as college savings products, fixed and variable annuities, long-term care insurance, mutual funds, 401(k) plans and various forms of business insurance.

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Contact:
Leslie Uyeda
Phone: (617) 663-4753
E-mail: ljuyeda@jhancock.com