2005 News Releases

Olympic sponsor sets up provincial headquarters in Nanjing

Nanjing, China– Manulife-Sinochem Life Insurance Co. Ltd., a subsidiary of Canadian-based Manulife Financial, the world’s fourth largest life insurance company, today officially marked the start of operations in the capital city of Nanjing, Jiangsu – site of the Company’s Branch office in the province and ninth operation across China. Manulife-Sinochem is one of the first foreign joint-venture life insurers to gain entry into Jiangsu province.

“We are delighted today to celebrate the official opening of our operation in Nanjing, the economic centre of Jiangsu province,” said Marc Sterling, Chairman, Manulife-Sinochem, at the opening ceremony press conference held at Nanjing Shangri-La Hotel. “With a double-digit GDP growth rate that has far outpaced that of China since 2001, Nanjing presents a tremendous opportunity for our company. Having received permission to expand our China operating license earlier this year to include Group Life and Health business, we are now in a position to fully service companies, families and individuals in Nanjing with a wide range of financial and medical products for all stages of life.”

In June 2005, Manulife-Sinochem received approval from the China Insurance Regulatory Commission (CIRC) to prepare its operation in Nanjing. The license in November was converted to a province-wide license, permitting Manulife-Sinochem to operate in Nanjing and to establish future offices in cities of its choice throughout Jiangsu province.

“It is our great pleasure to have sustained such strong support from the Chinese government over the years. The government’s cooperation has enabled us to rapidly grow our business, helping us to make enormous advancements on our long-term goal of becoming a nationwide insurer in China,” added Mr. Sterling. “We anticipate contributing to the growth of Nanjing’s booming economy – offering customers our newly expanded portfolio of premium products and services and offering rewarding career opportunities to talented, local people.”

Solid management and experience is Company’s leading asset
Having experienced rapid economic growth in recent years, Jiangsu Province – that has ranked number one in the country for insurance premiums since 2003 – is an attractive market both from an employer and financial services provider perspective.

“We plan to build on the local team of skilled professionals we have already hired in Nanjing and provide exciting career options across all areas of our business to many more qualified applicants,” said James Lin, General Manager, Manulife-Sinochem. “Recently recognized, for the second year in a row, as Shanghai’s “Most Trustworthy Company” in the insurance sector, this is a testament to our company’s well-earned success and a tribute to the professionalism of our people.”

“Well positioned in the competitive markets of Shanghai, Guangzhou and Beijing, we will leverage our nine years experience in the China market to launch a successful operation in Nanjing,” said Mr. Lin. “As the Official Life Insurance Partner of the Beijing 2008 Olympic Games, Manulife-Sinochem will incorporate the Olympic ideals, spirit and passion across all facets of its business so as to develop and spread the Olympic spirit to the Nanjing people.”

Rapid geographical and product expansion continues
Under the recently lifted geographical restrictions for foreign insurers by the Government, as part of its commitment to the World Trade Organization, Manulife-Sinochem has received a number of new licenses that is permitting the rapid expansion of its business.

In January 2005, CIRC granted Manulife-Sinochem license to significantly enhance its current product portfolio to include Group Life and Health and non-tax benefit Pension business, bringing its business scope in line with that of domestic insurers. In August, Manulife-Sinochem officially launched its Group Life and Health business, offering employee benefit packages to joint-ventures and small-to-medium sized companies in most cities it operates in.

“Manulife has a solid history across the world of providing organizations the products and services they require to attract and retain staff,” said Mr. Sterling. “Leveraging this expertise, we were able to swiftly put systems and products in place to be among the first of the foreign joint ventures to offer group insurance to mainlanders.”

“Once a number of pension regulations are in place, we will also use this opportunity to increase our presence in the China marketplace,” added Mr. Sterling.

At the start of the year, Manulife-Sinochem’s Guangzhou Branch license was also converted into a province-wide license for Guangdong, at the time excluding Shenzhen, giving it immediate access to a market almost 80 million strong. Later in September, Manulife-Sinochem received approval from CIRC to open a Sales Office in Shenzhen.

To date in 2005, Manulife-Sinochem has also established operations in Ningbo, Hangzhou, Foshan, Dongguan, Zhongshan and will be opening in early 2006 in Shenzhen and Shaoxing. The Company’s near-term national expansion strategy sees offices opening in close proximity to its three major operations in Shanghai, Beijing and Guangzhou.

Olympic sponsorship set to enhance brand in competitive marketplace
“As the Official Life Insurance Partner of the Beijing 2008 Olympic Games, our corporate sponsorship dollars go toward supporting the dedicated individuals of China who train long and hard to achieve the excellence that qualifies them for the world’s largest and most recognized sports competition,” said Robert Trieu, General Manager, Jiangsu Branch, Manulife-Sinochem. “Similarly, we, too, strive to be the “best” in our industry from the products and services we offer our customers to the extensive training we provide our management, staff and agency.”

The Beijing Olympic Games is considered the single greatest marketing opportunity this decade for companies wishing to establish leadership positions in Asia, and in particular the Greater China region. As such, Manulife-Sinochem plans to leverage the sponsorship to create a powerful and comprehensive marketing strategy that will span all facets of its life insurance business in all of its China locations, including Nanjing, over the coming years.

“Manulife-Sinochem shares the Olympic attributes of top performance and striving to be the best,” added Mr. Trieu. “As the exclusive Life Insurance Partner of the Beijing 2008 Olympic Games, we hope to communicate to our new stakeholders in Nanjing that we, too, stand for the excellence that has long been associated with the Olympic ideals. We look forward to the tremendous branding benefits that we stand to gain from our investment in the Olympic Movement.”

“This is a very exciting time for Beijing, for China, and for our company – we are thrilled to be a part of this special event and the Olympic spirit that will drive the development of Beijing, ultimately showcasing it as the magnificent city it is, to the rest of the world,” concluded Mr. Trieu.

Steadfast commitment to core competencies
The first foreign-invested joint venture life insurance company to enter China, Manulife-Sinochem opened its headquarters in Shanghai in 1996. In November 2002, Manulife-Sinochem received the first branch license granted to a foreign-invested joint venture insurance company and opened a Branch in Guangzhou. In April 2004, the Company opened its second branch operation in China’s capital city, Beijing, and one year later was the first foreign joint-venture to enter Zhejiang province, opening its third branch operation in Ningbo.

Fast becoming a major player in China’s insurance market, Manulife-Sinochem attributes its success to remaining steadfast to the company’s core competencies that include customer service effectiveness, distribution excellence and product innovation.

“In addition to being recognized as Shanghai’s “Most Trustworthy Enterprise” this year, our “Smart Baby” Par Whole Life product received Shanghai’s “Favorite Juvenile Product” award for the third year in a row. We were also awarded the honour of “Favorite Insurance Product” in the Shanghai First Insurance Product Exhibition,” said Mr. Lin. “These awards have enhanced consumer awareness of Manulife-Sinochem in the marketplace.”

Today, Manulife-Sinochem’s almost 5,000-strong staff and agency force serve approximately 220,000 customers across all cities where it operates.

About Manulife-Sinochem
Manulife-Sinochem is a joint venture company between Manulife (International) Limited (51 per cent) and China Foreign Economic and Trade Trust & Investment Company, a member of the Sinochem group (49 per cent).

About Sinochem
China Foreign Economic and Trade Trust & Investment Company (FOTIC) is a core enterprise of Sinochem. Sinochem, founded in 1950, is one of the biggest foreign trading companies in China. Sinochem has been listed among the Fortune Global 500 companies for 15 consecutive years, ranking 270th in 2004. It was ranked eighth among China’s 500 largest companies in 2004. Sinochem can be found on the Internet at www.sinochem.com.

About Manulife Financial
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$360 billion (approximately HK$2,404.3 billion) as at September 30, 2005.

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.

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For more information, please contact:

In Hong Kong:	In China:
Helena Lee/ Jeanie Ho Manulife (International) Limited Tel: (852) 2202-1050/ 2510-3191 Fax: (852) 2234-6875 helena_lee@manulife.com jeanie_ho@manulife.com	Lillian Li Manulife-Sinochem Mobile: (86) 138-1758-5553 lillian_li@manulife-sinochem.com
In Asia:	In Canada:
Kim Griffiths Manulife Financial Mobile: (852) 9091-3861 kim_griffiths@manulife.com	Peter Fuchs Manulife Financial Phone: (416) 926-6103 Peter_fuchs@manulife.com