Manulife Financial’s normal course issuer bid approved
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FOR IMMEDIATE RELEASE
October 31, 2003

Manulife Financial’s normal course issuer bid approved

Manulife Financial Corporation has received confirmation from the Toronto Stock Exchange that its previously announced notice of intention to make a normal course issuer bid for the purchase of up to 46,000,000 common shares has been accepted by the Toronto Stock Exchange. The bid period will commence on November 4, 2003 and expire on November 3, 2004 or such earlier date as Manulife completes purchases pursuant to the notice.

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$150.8 billion as at September 30, 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:

Media inquiries:
Donna Lindell
Corporate Communications
(416) 926-5226
donna_lindell@manulife.com
Investor Relations:
Edwina Stoate
1-800-795-9767 ext. 63490 or
(416) 926-3490
edwina_stoate@manulife.com





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