2005 News Releases

Toronto– Manulife Financial Corporation expects to take charges in the third quarter ending September 30, 2005 of US$165 million after tax for the losses relating to Hurricane Katrina.

Manulife Financial provides Property Catastrophe coverage to a number of reinsurers that, in general, begin to pay limited benefits when insured losses from a catastrophic event exceed US$20 billion. The charges of US$165 million have been estimated after a review of all reinsurance contracts in force and assumes that the full limit of each contract will be paid. The Company does not expect any significant level of claims will arise from its life insurance operations.

“The devastation of this hurricane was unfathomable,” said Dominic D’Alessandro, President and Chief Executive Officer of Manulife Financial. “Manulife, John Hancock and our employees have made and are continuing to make significant contributions to the relief efforts to alleviate the distress affecting so many people. The financial impact to Manulife of the hurricane is within our risk management tolerance and does not change our financial strength.”

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$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.

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Forward-Looking Statements
This news release includes Forward-Looking statements with respect to the Company, including its business operations and strategy as well as its financial performance and condition. These statements generally can be identified by the use of Forward-Looking words such as: "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or the negative thereof or similar variations. Although management believes that the expectations reflected in such Forward-Looking statements are reasonable, such statements involve risks and uncertainties and actual results may differ materially from those expressed or implied by such Forward-Looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include among other things, general economic conditions worldwide, market factors, including global capital market activity, interest rate and currency value fluctuations, business competition, changes in government regulations or in tax laws, technological changes, changes in consumer demand for the Company's products and services, realizing increased revenue from the expansion and development of distribution channel capacity, our ability to complete strategic acquisitions and to integrate acquisitions, catastrophic events, political conditions and developments and international conflicts. The Company does not undertake to update any Forward-Looking statements.

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