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DPLK Manulife Indonesia achieves solid business growth in 2002 and signs five new contracts to kick start 2003 Jakarta – DPLK Manulife Indonesia, one of Indonesia’s leading pension providers, in 2002 experienced a year of solid growth with business increasing 78 per cent over the year 2001. Assets managed by DPLK Manulife Indonesia were Rp 656,8 billion as at year-end 2002, compared to Rp 370 billion for the same period the year before. At a press conference today in Jakarta, DPLK Manulife Indonesia launched the New Year in a positive direction with the signing of five defined contribution pension program agreements. Companies, with representatives conducting the official signings at the conference, are: PT. Plasindo Lestari; PT Matsushita Semiconductor Indonesia; PT. Monsanto; PT Group 4 Securitas; and, PT. Gedung Bank Exim. In December 2002, Manulife also signed an agreement with one of Indonesia’s leading banks – PT Bank Rakyat Indonesia. “The new business we have signed on today is a positive reflection of how we anticipate business to grow throughout 2003,” said John Harrison, President Director of Manulife Indonesia, accompanied by Jeffrey P. Newnam, Vice President, Group and Pension Operations and Cynthia Bondad, Assistant Vice President, Corporate Distributions from the press conference this afternoon. “As the number one foreign pension provider in the country, the growth that our DPLK business experienced in the year 2002 and the addition of this new business to our operations creates an excellent opportunity for us to further strengthen our leadership position in Indonesia’s pension market. We estimate that with the total assets we currently manage, that we have increased our market share from 19 per cent*,” added Mr. Harrison. *As reported by Indonesia DPLK association in 2001. Manulife Indonesia DPLK Performance in 2002 * Unaudited Data by December 2002 Recently, new industry regulations were introduced by the Ministry of Finance, stating that all pension companies must publicly report their financial statements, in addition to a report that describes in detail the investment results of the pension funds themselves. The new disclosures are a break through for the pension fund industry and DPLK Manulife Indonesia is in support of the government policies. “These policies provide customers with the opportunity to review their investments in greater depth,” said Mr. Newnam. “This will give DPLK participants a greater sense of security about their futures and give them the details they need to make informed choices about their pension provider. We are obligated to submit our reports to the government and to the public via media publication and we are more than happy to comply. We are pleased to provide a greater understanding of our business through public disclosures to our valued customers.” Strategy for 2003 In 2003, DPLK Manulife Indonesia has defined a proactive strategy to penetrate the potential pension fund market in large cities across Indonesia where major companies are based. “Our goal is to reach Rp 1 trillion in total assets managed through our pension program by the year 2005,” said Mr. Newnam. “As a priority for 2003, Manulife Indonesia will conduct thorough, educational training programs, teaching companies the value and importance of pension funds in order to prepare employees for a financially secure future,” said Ms. Bondad. “The complete employee benefits program offered by Manulife Indonesia comprises pension administration services, including: DPLK and DPPK services, Group, Life and Health insurance, and other employee benefits.” Manulife Indonesia is committed to providing superior customer service to its DPLK clients and to its 400,000 customers across its entire business. Frontier Marketing Research & SWA Magazine in September 2002 ranked Manulife Indonesia as one of the Top Three companies in a Client Satisfaction Survey, emphasizing just how important the ‘customer experience’ is for Manulife Indonesia. About DPLK Manulife Indonesia Established in 1985, DPLK Manulife Indonesia is one of the largest DPLK joint ventures in Indonesia, known for its financial strength, high level of professionalism and excellent service to pension program participants. DPLK Manulife Indonesia is a unit of Manulife Financial in Indonesia, along with Asuransi Jiwa Manulife Indonesia and Manulife Asset Management Indonesia (MAMI). Manulife Indonesia was awarded the ‘Life Insurance Company of the Year’ award for 2002 in Asia by Asia Insurance Review, a respected insurance publication in Asia. The company offers a portfolio of comprehensive products and services in Indonesia, ranging from individual insurance, employee benefits to mutual funds. Headquartered in Jakarta, Manulife Indonesia operates through a network of 73 branches in 33 cities throughout Indonesia with the support of almost 4,000 staff and full-time agents, who serve more than 420,000 customers. 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 Can$ 139.2 billion as at September 30, 2002. 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. - 30 - For more information, please contact:
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