John Hancock Announces Redemption Schedule for Auction Preferred Securities of Five Closed-End Funds ( May 8, 2008 )











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FOR IMMEDIATE RELEASE
May 8, 2008
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John Hancock Announces Redemption Schedule for Auction Preferred Securities of Five Closed-End Funds
Schedule posted on www.jhfunds.com

Boston – John Hancock Funds has announced the redemption schedule for approximately $1.6 billion in auction rate preferred securities (ARPS) issued by five of its leveraged closed-end funds.

Yesterday, John Hancock said that it would refinance and redeem the ARPS from five closed-end funds: Tax-Advantaged Dividend Income (HTD), Preferred Income (HPI), Preferred Income II (HPF), Preferred Income III (HPS), and Patriot Premium Dividend II (PDT).

Along with additional information about John Hancock ARPS, the redemption schedule has been posted on the John Hancock Funds web site, www.jhfunds.com.

The schedule is as follows:

John Hancock Closed-end Fund Name	Ticker	Series	ARPS CUSIP	Shares	Redemption Date
Tax-Advantaged Dividend Income Fund	HTD	M	41013V209	3,800	5/27/2008
Tax-Advantaged Dividend Income Fund	HTD	W	41013V407	3,800	5/22/2008
Tax-Advantaged Dividend Income Fund	HTD	TH	41013V506	3,800	5/23/2008
Tax-Advantaged Dividend Income Fund	HTD	F	41013V605	3,800	5/27/2008
Preferred Income Fund	HPI	M	41013W207	2,240	5/27/2008
Preferred Income Fund	HPI	T	41013W306	2,240	5/28/2008
Preferred Income Fund	HPI	W	41013W405	2,240	5/22/2008
Preferred Income Fund	HPI	TH	41013W504	2,240	5/23/2008
Preferred Income Fund	HPI	F	41013W603	2,240	5/27/2008
Preferred Income Fund II	HPF	M	41013X205	2,032	5/27/2008
Preferred Income Fund II	HPF	T	41013X304	2,032	5/28/2008
Preferred Income Fund II	HPF	W	41013X403	2,032	5/22/2008
Preferred Income Fund II	HPF	TH	41013X502	2,032	5/23/2008
Preferred Income Fund II	HPF	F	41013X601	2,032	5/27/2008
Preferred Income Fund III	HPS	M	41021P202	2,800	5/27/2008
Preferred Income Fund III	HPS	T	41021P301	2,800	5/28/2008
Preferred Income Fund III	HPS	W	41021P400	2,800	5/22/2008
Preferred Income Fund III	HPS	TH	41021P509	2,800	5/23/2008
Preferred Income Fund III	HPS	F	41021P608	2,800	5/27/2008
Patriot Premium Dividend Fund II	PDT	A	41013T204	500	6/26/2008
Patriot Premium Dividend Fund II	PDT	B	41013T303	500	7/3/2008
Patriot Premium Dividend Fund II	PDT	C	41013T402	685	6/2/2008
Patriot Premium Dividend Fund II	PDT	D	41013T501	700	6/11/2008
Patriot Premium Dividend Fund II	PDT	E	41013T600	525	6/24/2008
Patriot Premium Dividend Fund II	PDT	F	41013T709	600	6/30/2008

About John Hancock Funds
The Boston-based mutual fund business unit of John Hancock Financial Services, John Hancock Funds manages more than $54.1 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at March 31, 2008. John Hancock Funds are distributed by John Hancock Funds, LLC, member FINRA. For more information, please visit www.jhfunds.com.

John Hancock Financial Services is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$400 billion (US$389 billion) at March 31, 2008. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial may be found on the Internet at www.manulife.com.

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FORWARD LOOKING STATEMENTS
Certain statements made in this release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to: changes in securities or financial markets or general economic conditions, including changes in interest rates for borrowings, and other risks discussed from time to time in the fund’s filings with the Securities and Exchange Commission. John Hancock and the closed-end funds managed by John Hancock and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.

Contact:
Beth McGoldrick
(617) 663-4751
bmcgoldrick@jhancock.com