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Manulife Financial Group of Companies in Indonesia achieves 166 per cent growth for the year in premiums and deposits Reveals aggressive 2003 strategy for expansion of operations Jakarta – Manulife Indonesia today announced outstanding growth and achievement of all business lines for the year 2002. “Despite the challenges we faced in 2002, we were still able to achieve high performance and significant growth across our entire business,” said John Harrison, President Director, Manulife Indonesia, from a press conference in Jakarta. “This growth truly demonstrates Manulife’s financial strength and commitment to the Indonesian market.” 2002 highlights include (unaudited):
“For 2003, our strategy for growth and expansion will see us penetrating promising markets across the country,” added Mr. Harrison. “By year’s end we plan to have opened new branch offices in several cities in Indonesia. We look forward to providing Indonesians from every corner of this expansive country, with our portfolio of innovative financial products, as well as our promise of superior customer service. In 2002, Manulife Indonesia was recognized on both of these merits as the Life Insurance Company of the Year for the whole of Asia. This has motivated us to be more committed than ever to providing real value to our clients.” As one of Indonesia’s largest joint-venture companies, Manulife Indonesia is renowned for its comprehensive product offerings and services in the area of life insurance, employee benefits and mutual funds. “In order to meet the growing needs of Indonesians, Manulife Indonesia is constantly working on the development of innovative products in all of its three business lines,” said Adi Purnomo, Vice President Director of Manulife Indonesia. “In 2002, we introduced Living Protection and Value Protection – innovative insurance products that help our clients better protect themselves and their families. We also formed a unique distribution partnership with Deutsche Bank to market our new mutual fund, Dana Tetap Instan, to institutional and corporate clients looking for quality investment solutions that address their needs on safety, high liquidity and competitive returns. At Manulife, we take great pride in being part of an organization reputed to be a global leader in financial services.” “Our long-term goal is to serve one million customers and manage more than Rp 10 trillion of total assets by the year 2005. We have an aggressive strategy in place and are very optimistic that we will achieve these targets,” added Mr. Harrison. “For the last 12 years in a row, Manulife’s Indonesian operations have successfully demonstrated a profit.” Staff and Agent Learning Center is officially launched Today also marks the official opening of the Manulife Indonesia Learning Centre, located in Jl. Menteng Raya 21 Jakarta Pusat. The Learning Center is a training and education facility for all Manulife Indonesia employees and agency staff. The Center demonstrates Manulife’s commitment to developing quality and professional human resources and to becoming an Employer of Choice, one of the global company’s core values. “The quality of our human resources is a top priority for Manulife as customer satisfaction and business volume are directly impacted by our people,” said Nelly Husnayati, Senior Vice President of Agency Operations. “We have made a concerted effort to attract and retain exceptional men and women into our business. With the launch of the Learning Center we hope to foster an environment where skill development is a part of our professional standard in order to provide the highest quality service to all our customers.” The Manulife Indonesia Learning Center is expected to support Manulife’s strategy to expand its business and penetrate the market in the future. “We will provide first-class development programs, right from when people first join our company, in order to prepare our employees and sales force with the extensive expertise they need to best serve Indonesian’s financial services requirements,” added Ms. Husnayati. “We already have a full schedule prepared for 2003 and look forward to keeping our four training rooms in operation at all times.” About Manulife Indonesia Established in 1985, 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. Manulife Indonesia is one of the largest joint-venture insurance companies in the country and has been chosen as one of the best life insurance companies in Indonesia by Info Bank, Pilar Bisnis and Investor Magazine in 2002. The company offers the most comprehensive products and services in the life insurance industry in Indonesia. Headquartered in Jakarta, Manulife Indonesia operates through a network of 75 branches in 33 cities throughout Indonesia with the support of almost 3,600 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 Cdn$146.2 billion as at December 31, 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 further information, please contact:
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