2004 News Releases

--New Portfolios and Asset Classes Added to Investment Platform--

Valhalla, NY – Continuing to provide clients with access to best-of-class investment platforms and asset allocation strategies, The Manufacturers Life Insurance Company of New York (Manulife New York) announced today enhancements to the Manufacturers Investment Trust (MIT). MIT provides the underlying investment options available in Manulife New York’s Venture® Annuities, Venture® Variable Life Insurance products, and the Venture® Series 401(k) and Pension products. ¹These enhancements include the addition of five new fund managers and six new portfolios in a variety of asset classes.

The MIT line-up is periodically revised as part of Manulife New York’s commitment to offering its clients a wide array of investment options. “Our primary goal is to provide advisors and their clients with access to the best managers in the industry,” said Bruce Speca, a representative of Manulife New York. “These additions help strengthen our already comprehensive investment platform, enhancing our clients’ ability to properly diversify their portfolios and delivering on our commitment to help provide an investment platform with the potential to offer superior risk-adjusted returns and broad diversification across asset classes, investment styles, and asset managers.”

Six New Portfolios
Changes to the MIT include the introduction of six new portfolios, further strengthening the style boxes on this platform.

• Small Company Trust, subadvised by American Century Investment Management, Inc., seeks to achieve long-term capital growth by investing primarily in the common stock of U.S. small companies. Risk is managed by broadly diversifying its investments based on the S&P Small Cap 600 Index.
• Core Equity Trust, subadvised by Legg Mason Funds Management, Inc., seeks long-term capital growth by investing, under normal market conditions, primarily in equity securities. The subadviser follows a value discipline in selecting securities and therefore seeks to purchase securities at large discounts to the subadviser’s assessment of their intrinsic values.
• Classic Value Trust, subadvised by Pzena Investment Management, LLC, seeks long-term growth of capital by normally investing at least 80% of its net assets in domestic equity securities. In managing the portfolio, the subadviser seeks to identify companies that it believes are currently undervalued relative to the market, based on estimated future earnings and cash flow.
• U.S. Global Leaders Growth Trust, subadvised by Sustainable Growth Advisers, LP, seeks long-term growth of capital by investing, under normal market conditions, primarily in common stocks of “U.S. Global Leaders.” The managers consider U.S. Global Leaders to be U.S. companies with multinational operations that typically 1) hold leading market shares of their relevant industries that result in high profit margins and high investment returns and 2) supply consumable products or services so that their revenue streams are recurring.
• Strategic Income Trust, subadvised by John Hancock Advisers, LLC, seeks high current income through investing, under normal market conditions, primarily in foreign government and corporate debt securities from developed and emerging markets, U.S. Government and agency securities, and U.S. high-yield bonds.
• Quantitative Value Trust, subadvised by MFC Global Investment Management (U.S.A.) Limited, invests primarily in high quality large-cap U.S. securities with the potential for long-term growth of capital.

Two New Variable Insurance Trusts
In addition to these new MIT portfolios, two new non-MIT Variable Insurance Trust portfolios are being made available on the Venture platform.

• John Hancock VST International Equity Index, subadvised by SSgA Funds Management, Inc., seeks to achieve the approximate aggregate total return of a foreign equity market index by attempting to track the performance of the MSCI All Country World Free ex-USA (MSCI ACWI Free ex-USA Index).
• PIMCO VIT All Asset Portfolio, subadvised by Pacific Investment Management Company LLC (PIMCO), seeks maximum real return (total return less inflation) by utilizing a dynamic asset allocation approach to invest in a portfolio of mutual funds managed by PIMCO.

“Manulife New York’s investment line-up is the cornerstone of our effort to provide clients with the opportunity to pursue financial fulfillment with a full set of diversified investment opportunities,” said James D. Gallagher, President of MIT and President, Manulife New York. “We are confident these changes can help deliver the highest likelihood of strong performance, both today and tomorrow, thereby helping to bring competitive products and maximum satisfaction to investment professionals and our clients.”

Manulife New York’s investment management team now includes:

About Manulife New York
Manulife New York is committed to offering the highest quality annuity, life insurance, and pension products to our clients. Its family of products has been built around a powerful combination of investment options chosen with the goal of providing attractive, risk adjusted returns and broad diversification across asset classes, investment styles and asset managers. With Manulife New York’s broad product lines, competitive underwriting, excellent ratings and quality customer service, Manulife New York is committed to providing quality products designed to help create and preserve wealth for our clients. Manulife New York can be found on the Internet at www.manulifenewyork.com.

^1. Venture Variable Annuities, Venture Variable Life insurance products, as well as Venture Series 401(k) and pension group annuity contracts are issued by The Manufacturers Life Insurance Company of New York, Valhalla, NY. Venture variable life and variable annuities are distributed by Manulife Financial Securities LLC through other broker/dealers appointed by Manulife Financial Securities. Manulife Wood Logan, a division of The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA), provides sales and marketing support for certain products issued by Manulife New York. Venture is a registered service mark of Manulife USA, used under license by Manulife New York.

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Variable annuities and variable life insurance products are long-term contracts designed for retirement purposes and are sold by prospectus. Variable life insurance and variable annuities have annual fees and expenses associated with them; in addition, variable life insurance has both life insurance related charges and investment management fees.

Your financial consultant can provide you with more information, including a product prospectus and a prospectus for the underlying portfolios that contain complete details on investment objectives, risks, fees, charges and expenses as well as other information about the investment company, which should be carefully considered. Please read the prospectuses carefully prior to purchasing.

Withdrawals may be subject to withdrawal charges and reduce the death benefit and contract value. In addition, withdrawals of taxable amounts will be subject to ordinary income tax and, if made prior to age 59½, a 10% IRS tax penalty may apply. Past performance is not a guarantee of future results.

Group annuity contracts are issued to qualified retirement plans by Manulife New York. Annuities and life insurance products are not deposits or obligations of, or guaranteed by any bank or financial institution. Annuities and life insurance products are not insured by the FDIC, the U.S. Government or any other government agency and are subject to risks, including the possible loss of principal.

Media Contact:
Heather Randolph
U.S. Communications
(617) 854-4342
hcarter@manulifeusa.com