2005 News Releases

For the third consecutive year, 401(k) Plan Participants in John Hancock’s Lifestyle Funds Earned Better Returns On Average Than Those Who Chose Their Own Asset Allocations

Boston– Participants in John Hancock’s 401(k) plans who contributed to a Target-risk Lifestyle Fund from 2000 to 2004 experienced superior performance compared to those participants who selected their own investment options, according to a survey conducted by Burgess + Associates for John Hancock. John Hancock Lifestyle Funds are professionally managed portfolios of funds that reflect a particular investment objective and risk strategy.

According to the survey:

• Plan participants, segmented by risk score, who invested in John Hancock’s Lifestyle Funds earned investment returns that were approximately 3.15 to 4.24 percentage points higher compared to participants who adopted any other investment strategy
• More than 91 percent of participants who picked their own individual funds (Non-Lifestyle participants) would have experienced better performance if they had invested their money in a single John Hancock Lifestyle Fund
• On average, the ending balances of Non-Lifestyle Participants, segmented by risk score, would have been 17.46 percent higher at the end of the period if they had contributed to a John Hancock Lifestyle Fund

“Our Lifestyle Funds provide an easy and efficient way for participants to diversify their investments,” said Bob Boyda, Senior Vice President of John Hancock Investment Management Services, whose investment group launched John Hancock (formerly Manulife) Lifestyle Funds in 1996 as part of the investment lineup for the company’s 401(k) group annuity products. “Most importantly, Lifestyle Funds generally provide participants with peace of mind, giving them the potential to achieve steady returns and provide a buffer against market volatility through professional investment management. For example, even though 2000-2004 was marked by a prolonged market downturn, none of John Hancock’s Lifestyle Funds lost money over the duration of the period.”

John Hancock is one of the nation’s leading providers of Lifestyle Funds, with more than $24 billion in assets under management in its variable annuity, variable life and 401(k) products, as of June 30, 2005. The company now manages more Lifestyle Fund assets (not including life cycle or target-date funds) in 401(k) plans than any other provider.

“Target-risk Lifestyle Funds have become increasingly popular among our participants,” said Paul Henry, Director of Strategic Planning and Market Research for Retirement Plan Services. “By simplifying the investment selection process, Lifestyle Funds make decision-making a lot easier for the average worker, and make participation in a 401(k) plan much less intimidating -- helping more people achieve their retirement goals.”

The study included 120,048 John Hancock 401(k) plan participants divided into various Lifestyle and Non-Lifestyle groups based on the investment risk inherent of the allocation strategies they selected.

About John Hancock Retirement Plan Services
John Hancock Retirement Plan Services (previously Manulife) has been in the qualified retirement plan markets since the 1980s and has become the #1 full service provider to 401(k) plans (2005 CFO Magazine 401(k) Buyers Guide Study July 2005) "Full-service" denotes providers, including banks, insurance and mutual fund companies offering both recordkeeping and investments, as defined by CFO magazine: plans managed and asset growth based on plans inforce at December 31, 2004 (published July 2005).

In recent years, John Hancock Retirement Plan Services has earned industry and consumer recognition for participant materials that are informative and easy to understand, for offering a wide range of investment choices, and for providing excellent service.

As a result of John Hancock’s investment management process, which has been awarded Standard & Poor’s Quality Evaluation certification for the last two years, streamlined enrollment process and support, and award-winning communication material, John Hancock has become the number one provider of lifestyle funds in the 401(k) industry, according to data compiled from Pension and Investments (May 2005).

About John Hancock and Manulife Financial
John Hancock is a unit of Manulife Financial Corporation (the Company), 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$364 billion (US$297 billion) as at June 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.

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 whole life, term life, variable life, and universal life insurance, as well as college savings products, fixed and variable annuities, long-term care insurance, mutual funds and various forms of business insurance.

Insurance products are issued by the following John Hancock insurance companies: John Hancock Life Insurance Company, John Hancock Variable Life Insurance Company*, John Hancock Life Insurance Company (U.S.A.)* and John Hancock Life Insurance Company of New York.

*Not licensed in New York

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Melissa Berczuk
(617) 572-6390