2004 News Releases

Hong Kong– Manulife Financial (stock code: 0945), a Canadian-based leading financial services provider, has announced several new appointments of senior executives in its Asian division, including management changes in Manulife (International) Limited (MIL), a member of the Manulife Financial Group in Hong Kong. The announcement follows the successes and the solid growth of Manulife’s Asian businesses over the past few years, as well as the company’s preparedness for further development in the region.

Edward Lau has been appointed Senior Vice President, Regional Operations, Asia. Based in Hong Kong, Mr. Lau assumes the responsibilities for Manulife’s operations in Hong Kong and the Philippines. He will also play a pivotal role in a number of other cross-divisional projects, spearheading the development of Manulife businesses and value-added customer service initiatives in Asia.

Prior to this appointment, Mr. Lau was Senior Vice President and General Manager, Hong Kong, MIL. Under Mr. Lau’s strong leadership over the past eight years, Manulife Hong Kong – the flagship business operation of Manulife in Asia - recorded significant achievements in terms of financial results, market leadership, business growth, agency professionalism and customer acquisition. The company also gained unparalleled prestige and stature in the industry as well as among customers. Manulife has been voted the best insurance company and ranked number one in customer service for its insurance and MPF services in Hong Kong.

Mr. Lau has more than 25 years of experience in the insurance industry in Hong Kong and Canada, including various senior management positions within Manulife’s Asian division. He is presently Chairman of the Hong Kong Federation of Insurers.

Michael Huddart has been appointed General Manager, Hong Kong, MIL, with responsibility for continued growth and maintaining the leadership position of Manulife’s business operation in Hong Kong, including its insurance, provident fund, wealth management and mutual funds businesses. Mr. Huddart was formerly General Manager of Manulife Taiwan, where he successfully led the business to new heights with a premium growth of more than 1,000 per cent during his four-year tenure from 2000 to 2003. He also established Manulife Taiwan’s leadership position by introducing the first ever investment-linked as well as universal variable life products in the market.

Before moving to Taiwan, Mr. Huddart was Vice President for Business Development in Asia, based in Hong Kong. He has also been the Chief Actuary for Manulife in Indonesia as well as the President Director of Manulife’s former pension consulting business there. Mr. Huddart has more than 25 years of practical experience in the life insurance and pension consulting fields, including many leadership positions.

David Wong replaces Mr. Huddart as General Manager, Manulife Taiwan, where he will assume overall charge of the continued development of Manulife’s business operation in that market. Formerly Vice President, Distribution, Hong Kong, MIL, Mr. Wong oversaw the transformation of Manulife Hong Kong’s agency force into an expert team of financial planners with a focus on professional development and certification. He has more than 23 years’ experience in the insurance industry in Hong Kong and Canada.

Michael Chan has been appointed Vice President, Distribution, Hong Kong, MIL. He will oversee the company’s agency force and its distribution and sales strategies, as well as its continued growth and professional development. A chartered accountant by profession, Mr. Chan formerly led MIL’s Group Insurance business in Hong Kong. A twenty-year industry veteran, Mr. Chan is presently Chairman of the Medical Insurance Association Council, Hong Kong Federation of Insurers.

Nick Crouch, President and Chief Executive Officer, Manulife Provident Funds Trust Company Limited, has been appointed Vice President, Employee Benefits Operation, Hong Kong, MIL. In addition to his current responsibilities as head of Manulife Hong Kong’s Provident Funds business, he will also take charge of the company’s Group Insurance development in Hong Kong. Mr. Crouch led Manulife’s entry into the MPF market in Hong Kong and took the company to its leading position as one of Hong Kong’s preferred providers of pension funds.

About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were Cdn$156.7 billion (approximately HK$941.2 billion) as at December 31, 2003.

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:
Helena Lee / Jeanie Ho
Manulife (International) Limited
Tel: 2202 1050 / 2510 3191
Fax: 2234 6875
Email: helena_lee@manulife.com
jeanie_ho@manulife.com