2004 News Releases

Hong Kong– The remarkable performance of Manulife Asset Management (Hong Kong) Limited (MAMHK)’s mutual funds has earned the Company five industry accolades in the annual Benchmark Fund of the Year Awards and the South China Morning Post (SCMP) Fund Manager of the Year Awards 2003.

The Manulife GF Emerging Eastern Europe Fund won both the Emerging Markets three-year and five-year equity categories at the Benchmark Fund of the Year Awards. It also received the award for the Europe Emerging Markets three-year equity sector in the SCMP Fund Manager of the Year Awards. According to Standard & Poor’s Micropal, the fund has delivered the most impressive performance among its peer funds with three-year and five-year returns of 141.94 per cent and 224.35 per cent, respectively, as at December 31, 2003.

“We are proud to be recognized by these awards,” said Stefan Böttcher, investment manager of Manulife GF Emerging Eastern Europe Fund. “The Emerging Eastern Europe Fund has posted not only the best long-term performance against its peers but also a very low volatility. This is the result of our active risk management. We are not only aiming to find good companies but also to try to construct well-diversified portfolios.”

The Manulife GF China Value Fund also triumphed in the Greater China three-year equity sector in the SCMP Fund Manager of the Year Awards. Investing primarily in under-valued equity securities of companies that have high exposure in the Greater China Region, the fund achieved a remarkable three-year return of 248.10 per cent as at December 31, 2003, based on Standard & Poor’s Micropal. It has been a market champion since its launch in 1998.

“We are pleased to receive the award again for the third consecutive year,” said Cheah Cheng Hye, investment manager of Manulife GF China Value Fund. “The award reaffirms our brave yet cautious investment approach in a young market such as China. The outperformance of the fund against its benchmark as well as competitors has also proved the success of our stock-picking strategy.”

Launched in October 2002 by MAMHK, the Manulife China Value 95% Capital Guaranteed Fund (AUD) also clinched the one-year award in the guaranteed/protected category at the Benchmark Fund of the Year Awards with a satisfactory one-year capital gain of 7.03 per cent and income of two per cent. The fund aims to provide investors with the opportunity to participate in the positive performance of the Manulife GF China Value Fund, while offering a 95 per cent capital guarantee after 3.5 years and a two per cent annual distribution for the first three years.

“It has always been Manulife’s focus to provide customers with the best options among the diversified asset-management capabilities in the market,” said Anne Weedon, Assistant Vice President and Chief Operating Officer of MAMHK “The China Value Fund and the Emerging Eastern European Fund have continued to yield superior returns throughout 2003, confirming that our strategy of tapping into the expertise of the best possible investment experts works extremely well for our customers. We are delighted to receive this third-party endorsement of our performance.”

About Manulife Asset Management (Hong Kong) Limited
MAMHK is a leading provider of no-load mutual funds in Hong Kong. The company has 14 funds invested in diversified global markets. Minimum amount for lump-sum investment is HK$5,000 and regular savings plans with contributions of HK$1,000 per month are also available. Switching between the funds is free of charge. MAMHK is a member of the Manulife Financial group of companies.

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