2005 News Releases

Company reaffirms long-term commitment to Vietnam with the development of new Headquarters property

Ho Chi Minh City– Manulife Vietnam today officially broke ground for a new 6,064 square-meter building, marking the start of construction for its US$10 million Vietnam headquarters. The seven-storey building is slated for completion in September 2006 with occupancy beginning in November 2006. The new building will house Manulife Vietnam’s headquarters staff.

Manulife Vietnam was honored to welcome Mdme. Vo Thi Hiep, Director of the Management Authority for Southern Area Development of Ho Chi Minh City and Mr. Nguyen Doan Hung, Vice Chairman of State Securities Committee, at today’s ground breaking ceremony.

Plans for the building were unveiled in June 2005 by Prime Minister Phan Van Khai and Manulife President and CEO, Dominic D’Alessandro at Manulife Financial headquarters in Toronto, Canada. The classic colonial style building will incorporate several unique design elements including a large landscaped entrance plaza, complete with an architectural water feature and outdoor cafe, as well as a covered terrace on the seventh floor.

“The ground breaking for our new Manulife Vietnam headquarters building is a significant milestone in our business growth in Vietnam,” said David Matthews, General Director, Manulife Vietnam at the ceremony. “This is Manulife’s first foray into property investment in Vietnam, a move that further solidifies our long-term commitment to this country.”

“We are proud that ours will be among the first buildings to be constructed in the commercial sector of the new Saigon South urban area,” Mr. Matthews added. “This excellent commercial and residential development area is a very positive sign that Vietnam’s economy continues to move in the right direction, and we are thrilled to be front and center of the rapid expansion that is taking place.”

"With such a big scale of investment and professional business manner, we firmly believe that Manulife will be one of the important investors who will actively contribute to the accelerating development of this new southern area of Ho Chi Minh city," Mdme. Hiep said. " In the role of a government authority, we will fully support Manulife to complete the construction successfully on schedule."

“After more than six years of operations, Manulife has well established its reputation as a leading life insurer in Vietnam with distinctive strengths in professional distribution and product innovation,” continued Mr. Matthews. “We are confident the state-of-the-art Manulife Vietnam headquarters building, right in the heart of this new urban center, will further enhance the visibility and credibility of the Manulife brand.”

When complete, the new Saigon South City Center is expected to include the securities stock exchange, shopping centers, international exhibition venues, office buildings, full service banking institutions and high-rise hotels. The 2,600 ha area is an urban development project of Phu My Hung Corporation.

The development of the Manulife building will be managed by Manulife, and supported by a strong team of local project consultants and contractors, including: 02 Architecture; Duffill Watts & Tse Ltd., Consulting Engineer; and Cofico (Construction Company No. 1), General Contractor.

About Manulife (Vietnam) Limited
Manulife Vietnam - the first 100 per cent foreign-owned life insurance company licensed in Vietnam - provides financial services to more than 300,000 customers through a network of 4,000 professionally qualified agents. Manulife has been operating in Vietnam since June 1999. On June 14, 2005, Manulife Vietnam Fund Management (MVFM), a wholly owned local subsidiary of Manulife Vietnam, was granted license to operate a fund management and investment-finance consulting business, further expanding Manulife Vietnam’s product offerings for its customers.

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 (US$310 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 further information, please call:
Hang Luu,
Marketing Manager
Manulife (Vietnam) Limited
Tel: (84-8) 825 7722 Ext. 2502
Fax: (84-8) 825 7718
E-mail: Hang_Luu@manulife.com